IRI and Geoscape Acculturation Audiences blend IRI’s purchase behavior data and Geoscape’s multicultural segmentation
CHICAGO and MIAMI — Nov. 27, 2018 — IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, today announced an expanded relationship with Geoscape® (a Claritas company), a leading consumer data and segmentation provider to launch IRI and Geoscape Acculturation Audiences. This solution will help marketers target U.S. Hispanic and Asian households based on their level of acculturation and past purchase behavior at a level of scale and accuracy not historically available.
IRI and Geoscape Acculturation Audiences blend deterministic and probabilistic purchase behavior from IRI with Hispanic and Asian cultural segmentation systems from Geoscape to enable smarter digital targeting and more relevant messaging to a growing U.S. Hispanic and Asian population. This combination provides the two strongest signals for identifying households likely to purchase and helps advertisers reach consumers who are most likely to respond to multicultural messaging and purchase the advertised product. Ultimately, IRI and Geoscape Acculturation Audiences will improve the customer journey and drive greater efficiency and return on advertising spend.
With the U.S. population shifting at a dramatic pace, the three largest ethnic groups will reach nearly 131 million persons by 2021, with Hispanics representing more than 52 percent of that population. Based on median age and life expectancy, the lifetime value of acquiring a brand-loyal Hispanic or Asian household is 36.5 percent higher than acquiring a brand-loyal non-Hispanic white household.
“Since 2009, more than two-thirds of new Americans have identified themselves as Hispanic, making this group the growth majority,” said Mike Nazzaro, chief executive officer of Claritas. “Due to their above average digital use, marketers would benefit from shifting their media budgets to account for this growing population while ensuring they reach distinct segments with an appropriately targeted message. These new audiences will help CPG marketers capture these consumers with increased precision.”
The IRI and Geoscape partnership seeks to help consumer packaged goods (CPG) marketers better understand the growing U.S. Hispanic and Asian populations and connect with these communities via more effective messaging that is based on their cultural identity and purchasing preferences.
“Hispanic and Asian communities are eager to engage with brands that recognize and embrace their cultural identities in an authentic way,” said Nishat Mehta, president of the IRI Media Center of Excellence. “Marketers can now personalize messages for a growing, diverse and valuable population based on the combination of their historical off-line purchase behavior and ethnic identification.”
IRI and Geoscape Acculturation Audiences are available through the LiveRamp Data Store and to IRI clients through Audience Desk, IRI’s concierge audience service. These joint audiences can be published to any major data management platform (DMP), demand side platform (DSP) or advertising end point.
This is the latest in a series of new purchase-based audience solutions from IRI to help CPG marketers better plan, target, activate, measure and optimize their media investments.
For more information about how your brand can build more targeted campaigns with IRI and Geoscape Acculturation Audiences, contact IRIMedia@IRIworldwide.com.
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, The Boston Consulting Group, Clavis Insights, comScore, Data Plus Math, Edison, Experian, GfK, Gigwalk, Google, Ipsos, Jumpshot, Mastercard Advisors, MaxPoint, Omnicom, One Click Retail, Oracle, Pinterest, Research Now/SSI, Simulmedia, SPINS, Univision, Viant, Yieldbot 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 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 on 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.
Geoscape, a Claritas company, provides automated intelligence systems, unique data products, research and analytic services for companies seeking to accelerate growth by tapping into the growth of new mainstream consumers in the U.S., Canada and Europe. The online Geoscape Intelligence System (GIS), the DirecTarget® database enrichment system and a variety of geo-demographic, consumer, business and media databases enable actionable insights that lead its clients to gain significant business advantages.
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