CHICAGO & NEW YORK--(BUSINESS WIRE)--PlaceIQ, the company building a new model of consumer behavior with location data and insights, and IRI®, the global leader in innovative solutions and services for consumer, retail and media companies, today announced they are collaborating to measure the value of location-based marketing efforts, linking offline sales back to out-of-home sponsorships, so marketers can finally understand the true effect of these difficult-to-measure campaigns.
A leading consumer products company turned to PlaceIQ and IRI to find out if its sports stadium sponsorship drives sales among stadium visitors for its flagship brand and entire product portfolio at retailers. The lift in product purchases by visitors to the sponsored stadium was twice that of a control group. For an entire sports season, the brand attributed more than $3 million in off-premise sales to visitors of its sponsored stadiums.
“Relevance Is Everything” is a new joint PlaceIQ and IRI white paper that details the results of this study and offers best practices for layering purchase and location data. This valuable case study will be featured onstage at the 2018 IRI Growth Summit, a leading industry gathering of CPG, retail and technology brands taking place April 16-18 in Las Vegas, Nevada.
The case study explains how PlaceIQ and IRI measured the return for sponsorship on the brand’s sales and also provided insight into the affinities of its audience (stadium visitors), including which dining establishments, airports, hotels and retailers they frequent. Other key insights include the average distance travelled by sports fans to the stadiums and the effect of fans’ attendance at multiple sporting events over the season on off-premise purchases.
PlaceIQ and IRI data set integrations enable the ability to assess the path to purchase, serve ads at the right time and close the loop to in-store sales. These insights inform marketing decisions, from media channel investments, messaging and creative development to partnerships with new retailers and field marketing activations.
“Layering IRI’s purchase data and PlaceIQ’s advanced location data provides a holistic view of customers, from initial awareness to in-store purchases,” said Duncan McCall, chief executive officer and co-founder of PlaceIQ. “While it is a key part of building brand awareness among sports audiences, quantifying the value of stadium sponsorships is complex. These are substantial marketing investments that require a true understanding of sports audiences as a starting point to justify spending. We’ve worked with large brands for years to help them understand audiences, such as stadium visitors, their affinities outside the sports realm, and the effect marketing has on driving real-world visitation — and the solutions we offer are made even stronger today through this partnership.”
“Our joint work is focused on giving brands peace of mind that their marketing dollars are being used effectively,” said Jennifer Pelino, senior vice president, IRI Media Center of Excellence. “The ability to measure uplift in purchases from the unique audience for an event such as a stadium visitation provides much needed visibility into the return on investment. This, in turn, provides valuable insight into how different products within a brand’s portfolio are benefitting from sponsorship. These critical insights can be used by brands to optimize marketing decisions across the board.”
Beyond targeting, purchase and location data can be integrated for use cases such as:
- Path to Purchase Assessment: Understand travel routes for consumer audiences before they purchase products in store
- Events and Sponsorships: Quantify the impact of event sponsorship on future in-store sales
- Store or Pop-Up Placement: Place stores or pop-up shops in locations that are most convenient to your target shoppers
- Household Profiling: Understand how your consumers engage across the retail landscape and outside of your industry
The collaboration between PlaceIQ and IRI empowers brand and agency clients by providing a more holistic view of customer journeys. PlaceIQ’s location-based insights consist of 190 million unique, anonymous device signals across the United States, and IRI’s purchase data is representative of more than 100 million households and 80 percent of the U.S. market.
IRI and PlaceIQ Expand Partnership Press Release: https://www.iriworldwide.com/en-US/Insights/news/PlaceIQ-and-IRI-Launch-Expanded-Partnership-to-Augment-IRI%E2%80%99s-Vast-CPG-and-Retail-Big-Data-Cloud-Offe
About the IRI Partner Ecosystem:
IRI fundamentally believes that delivering differentiated growth for clients requires deep, highly integrated partnering with a variety of best-of-breed companies. As such, IRI works closely with a broad range of industry leaders across multiple industries and sectors to create innovative joint solutions, services and access to capabilities to help its clients more effectively collaborate and compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its open ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such leading companies as 84.51°, Adobe, Alphonso, The Boston Consulting Group, comScore, Experian, GfK, Gigwalk, Ipsos, Limbik, Mastercard Advisors, MaxPoint, Pinterest, Oracle, Research Now, Simulmedia, SPINS, Survey Sampling International, Univision, Viant and others.
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events – a change in consumer buying habits, big data’s coming into its own, advanced analytics and personalized consumer activation — is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated into an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.
PlaceIQ is a leading data and technology provider that powers critical business and marketing decisions with location data, analytics and insights. An early industry pioneer, PlaceIQ has become the standard for fueling better decisions by marketers, analysts and publishers through powerful, location-based consumer insights, real-world measurement and attribution.
With PlaceIQ, companies can uncover opportunities within the consumer journey by learning about and connecting with location-based audiences, measuring real-world ROI and applying insights that drive intelligent marketing and successful business outcomes.