The years since the Great Recession have seen substantial changes in consumer behavior and marketing strategies. Financial needs have driven shoppers to shop smarter, using all available sources of information to identify products that best meet their needs and at the lowest price. These behaviors trained marketers to rely more on promotions and discounting to drive consumer engagement. While the recession has ended, overreliance on price-based promotions has not. Unfortunately, brands are locked into a cycle of commoditization, and margins are being squeezed to near extinction.
To help marketers determine the most efficient media allocations and guide media organizations to better sync with marketers’ needs, IRI and Turner partnered to mine an array of marketing mix studies conducted over a multi-year period. They assessed marketing spend across 62 brands representing $20 billion in sales and $3 billion in marketing spend across food, beverages, health care, beauty and home care aisles.
IRI and Turner’s joint paper, “Drive Growth with Media Parity: Shifting 10 Percent of Promotion Spending to Media Advertising Will Increase Marketing ROI by 10 to 25 Percent,” discusses their results and provides guidance to CPG manufacturers and retailers and their media partners on how to harness the joint power of digital and television media to build targeted and contextually appropriate brand stories that set off a compelling and positive marketing ROI cycle.
95% of CPG, retail, and health and beauty companies in the Fortune 100 work with us.