IRI partners with Experian to help brands identify most valuable purchasers
IRI announced a strategic collaboration with Experian aimed to help marketers engage and identify customers with more relevant media to drive a better return on advertising spend and improve shopping experiences. The joint effort enables marketers to leverage IRI ProScores, an audience targeting solution built from household purchase data that predicts the likelihood of consumers to purchase specific consumer packaged goods (CPG) brands and categories. As part of the agreement, Experian’s clients will have direct access to IRI ProScores.
IRI ProScores is the industry’s most advanced, purchase-based, predictive shopper insights solution. It leverages demographic and other consumer data from Experian’s ConsumerView database and integrates it with IRI’s consumer purchase data to identify the most valuable purchasers. Marketers can utilize the information to determine consumers who have the propensity to purchase products within a specific category, subcategory or brand and deliver targeted communications with significantly enhanced relevancy to individual shoppers. Many IRI clients have experienced more than a 200 percent lift in product sales for ad campaigns using IRI ProScores as a targeting element.
Srishti Gupta, president of the IRI Media Center of Excellence, said, “We’re thrilled with today’s announcement, which expands our partner ecosystem and demonstrates the continued adoption of IRI ProScores by leading marketing and technology companies. CPG purchase propensity scores have long been used by IRI clients to drive marketing personalization and effectiveness, and this expanded relationship opens up our valuable data assets to Experian’s clients and partners, enabling them to drive unique and personalized experiences for customers.”
Kevin Dean, president of Experian Targeting, said, “In an age when consumers are constantly on the go and are bombarded with marketing messages, there’s an expectation for brands to deliver only highly personalized and extremely relevant communications to them. Through our collaboration with IRI, we’re able to help marketers adapt to this environment and identify the target audiences for each marketing campaign, helping them to improve customer loyalty and see greater return on investment.”