Retailers, like CPG companies, need to keep an eye on their marketing spend when reaching out to their target consumers. For example, Del Monte Foods partnered with Amobee for its Sales Accelerator solution, which lets consumer packaged goods clients connect digital ad impressions to offline purchase data while a campaign is still running, giving it an opportunity to make mid-campaign adjustments and more effectively reach consumers.
“It’s really all about driving more effectiveness and efficiency with your media dollars,” said Jennifer Reiner, Senior Director Omnichannel Marketing & Ecommerce at Del Monte in an interview with Retail TouchPoints. “As you can imagine, we’re running potentially millions of dollars through the data management platform. We can now determine which consumer segment is responding the best to our messaging, and we can shift media to the groups where we’re seeing the best results.”
By seeing the cost associated with reaching different groups, companies can determine if they atre ultimately getting the desired outcome for the amount they are spending. In Del Monte’s case, Oracle Data Cloud provided Amobee with offline transaction data on a weekly basis, which gave marketers insight into how consumers were interacting with the ads across channels, devices and segments. The result was a 63% drop in the cost per purchase and a 250% increase in the purchase rate, according to Amobee.
Retailers should also look for ways to tailor their efforts to particular demographics. The purchase rate among Millennials exposed to Del Monte’s campaign grew 225%, according to Amobee. The CPG company was able to shift more media to Millennials after it saw their response to the advertising.
“That was very exciting to see, and I think we feel very confident investing more media dollars into digital to reach these consumers,” said Reiner. “We know that they like tailored messages, and that they want to hear from us through other campaigns we’ve done in the past. I think this just reinforces some of the conversion with those consumer segments.”
CPG companies gather large amounts of data from shoppers’ carts, which helps them identify granular consumer segments and engage in purchase-based targeting. Retailers can likewise use data to consider who should be targeted by ads.
“As you can imagine, we have a number of different ways we can set up the audience we want to go after based on our marketing objectives,” said Reiner. “We have consumer audiences that we’ve identified, and we’re also looking at other metrics as well in terms of an ad on desktop versus mobile, or potentially we can look at geographies. There’s a whole multitude of ways you can slice the data in order to determine how you’re creating all these different audience segments.”