By Srishti Gupta
Whether advertising budgets are large or small, all CPG marketers (and their agencies) want to be more efficient, improve targeting and maximize reach to the people they want to influence. Digital advertising, with its many targeting techniques, has made it easier for marketers to reach specific consumers while television advertising has long been much more challenging. But, exciting new tracking and measurement tools can help marketers tie TV viewing to actual purchase data.
Chris Wilson, president of National Television at Rentrak, and I recently presented “Who Says Watching TV Is Bad for You?” at the Ad Age Data Conference. We discussed the numerous benefits of linking TV consumption and purchase behavior, including the ability to drastically improve targeting. Instead of simply targeting people at the household level, marketers can air ads during the specific shows their target audiences are most likely to watch. This means reaching heavy buyers, as well as purchasers of competitive and adjacent brands and categories.
If you want to improve ROI on your television spend, the first step is to complete an analysis of your brand’s existing media plan. What networks and shows are running the ads, and when? How well is it working? After initial diagnostic testing, brands can begin reallocating media spend to be more efficient. For example, advertising on additional shows or underutilized long-tail networks can enhance marketing efficiencies.
Whether you want to reduce media spend while maintaining exposure or want to keep your same TV ad budget but maximize results, you must define target consumer groups, and then reach them on the networks and shows they prefer.
Optimizing TV advertising can have monumental results. Chris and I shared four recent case studies of leading CPG brands that worked with IRI and Rentrak to reduce their media spends by a minimum of 13.9 percent to an astounding 40.1 percent – all while maintaining the same degree of continuous exposure. Combining IRI’s Proscores with Rentrak’s insight into the exact television commercials being viewed on more than 31 million TV sets, it is finally possible to match the commercials people are watching with what they buy, creating countless opportunities to enhance media efficiency.
Want to hear more about how it works? You can reach me atSrishti.Gupta@iriworldwide.com.