IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, today announced new, innovative audience solutions for IRI Verified Audiences to improve how CPG manufacturers and retailers reach their consumers. As the only 100 percent deterministic audiences based on purchase behavior, IRI Verified Audiences enable unprecedented personalization, targeting and messaging capabilities that improve marketing performance compared to other providers that rely on modeled behaviors.
The six new audience solutions announced today enhance IRI Verified Audiences to include audiences built on a combination of product attributes, longitudinal household purchase behavior price sensitivity, product purchase cycles and seasonal purchase patterns in a more diverse array of categories than ever before.
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“IRI’s continued investment in Verified Audiences — the only audience solution capable of tailoring marketing campaigns toward households with a proven purchase history in a particular product or category — has helped our clients deliver greater relevance to their consumers and deploy their marketing resources with maximum efficiency, for optimal return,” said Nishat Mehta, president of the IRI Media Center of Excellence. “With these latest solutions, IRI clients can reach households at the most critical times in their purchase cycle or based on their price sensitivity, and improve campaigns in-flight based on frequently updated conversion data. These cutting-edge, industry-leading solutions leverage resources from IRI’s vast data assets, and demonstrate our continued commitment to leveraging data and insights to deliver the best consumer experience, driving growth for our clients.”
The six new IRI Verified Audiences solutions IRI announced today include:
- IRI Purchase-Cycle Verified Audiences: IRI can now create audiences based on a de-identified household’s purchase cycle, leveraging average category, sub-category and brand purchase cycles from the proprietary IRI Consumer Network of over 100,000 households. The solution categorizes relevant product buyers in IRI’s 350 million loyalty card dataset into buckets based on the time elapsed since their last purchase, helping marketers to target early, late or off-cycle households.
- IRI Share-of-Wallet Verified Audiences: This solution helps IRI clients to create, target and activate audiences based on a de-identified household’s brand loyalty, helping marketers to specifically target de-identified households that have opportunities to grow their loyalty to a brand within a given category.
- IRI Price-Sensitivity Verified Audiences: IRI has segmented its loyalty card households into price sensitivity groups based on how they shop the store, including frequency, spend, engagement with sales and ads, and more. Marketers can target audiences who are identified as most price sensitive, least price sensitive, opportunistic shoppers and mainstream shoppers with unparalleled accuracy.
- IRI In-Flight Conversion Verified Audiences: IFC Verified Audiences help advertisers and their agencies to optimize media campaign tactics around offline sales data — rather than traditional metrics like viewability, clicks and impressions — for greater and more efficient sales conversion. Advertisers using this new IRI solution receive purchase conversion audiences on a weekly basis, allowing them to adjust strategies in-flight and maximize campaign return.
- IRI Lifestyle Verified Audiences: IRI’s Lifestyle Verified Audiences solution allows marketers to target households based on lifestyle and interest-based purchase behavior, including purchases in the weeks leading up to holidays and other events, and other key product purchase patterns. This unique solution helps retailers to activate purchasers in areas of the store as they are about to stock up on select items or categories.
- IRI Random-Weight Verified Audiences: Leveraging IRI’s proprietary FreshLook™ sales data, this solution helps marketers and retailers to target households based on their previous purchases in random-weight categories, such as produce, bakery, meat or cheese.
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IRI Purchase-Cycle, Share-of-Wallet, Price-Sensitivity, Lifestyle and In-Flight Conversion Verified Audiences are available to IRI clients today, either separately or in conjunction with IRI’s other industry-leading media capabilities. Random-Weight Verified Audiences will be available in the market later this summer.