BZZAGENT AND SYMPHONYIRI REVEAL 6.7% SALES LIFT OF SOCIAL MARKETING FOR CPG PRODUCTS
BOSTON, MA--(Marketwire - Apr 2, 2012) - BzzAgent, the social marketing arm of dunnhumby, and SymphonyIRI Group, Inc. today announced social marketing, when used to build widespread consumer advocacy, generates an average sales lift of 6.7% for CPG brands. Companies in the analysis used BzzAgent's social marketing practices to build consumer advocacy and SymphonyIRI's Matched Market Analysis to measure the sales attributed to these programs.
The study is based on 11 social marketing programs conducted between 2010 and 2012 for a variety of food, beverage and personal care products sold nationally at grocery, drug and mass retailers in the United States. Although results varied by product category, food and beverage products saw an average sales lift at 6.3%, while sales for personal care products jumped an average of 7.2%.
"Consumer advocacy in social media can make a significant business impact for all types of CPG products," said Dave Balter, founder and CEO of BzzAgent. "Now with proven measurement practices like Matched Market Analysis, brand marketers can confidently invest in social marketing."
Unlike most social marketing measurement practices using Facebook "likes" and qualitative "engagement" assessments to determine success, SymphonyIRI's Matched Market Analysis evaluates store-level transactions to determine sales impact. When applied to social media marketing programs like BzzAgent, marketers can see the effect of these programs, which leverage the same proven measurement method(s) used with all other types of media.
"Accurate media measurement data is critical for marketing success," Srishti Gupta, executive vice president, New Media Solutions, SymphonyIRI. "This type of sales analysis in social media isn't possible without the use of proven and trusted measurement practices like Matched Market Analysis as well as extremely robust point-of-sale data."
Source:http://about.bzzagent.com/word-of-mouth/press/index/type/2/year/2012/ident/19294
BZZAGENT VALIDATES SOCIAL MARKETING ROI WITH MARKETING MIX MODELING
Average ROI of $1.50 Determined by Leading Measurement Firms
BOSTON, MA--(Marketwire - Jan 23, 2012) - BzzAgent, the social marketing arm of dunnhumby, announces that the company's social marketing campaigns have been successfully evaluated in Marketing Mix Modeling (MMM) analysis for several of the world's largest CPG companies. MMM is considered the gold standard for quantifying drivers of business performance across all marketing channels and activities. Analysis conducted by three leading measurement firms -- Nielsen, Genpact and Foresight ROI -- has demonstrated a positive ROI for social marketing compared to other media, delivering an average return of $1.50 for every dollar spent.
The successful evaluation of social marketing in these sophisticated MMM studies enables marketers to move beyond inexact metrics of engagement so social marketing can be measured apples-to-apples to other marketing initiatives using the same financial metrics.
"This answers the debate within the marketing industry about whether social media can be measured against the sales impact of traditional media," said Dave Balter, CEO of BzzAgent. "The analysis of these market mix modeling studies proves that with the right marketing activities and data collection practices, social marketing can be a very effective investment for CPG brand managers."
The Marketing Mix Modeling analysis of BzzAgent CPG social marketing programs by top measurement firms took place between 2009 and 2011. The average return of $1.50 for every dollar spent is an example of the results social marketing can deliver for CPG companies. ROI analysis practices differ in every company, so a lower ROI may still represent a very successful campaign when evaluated in the context of the overall marketing plan.
BzzAgent specializes in helping brand marketers use social marketing to build brand advocacy and drive product sales. The company identifies the right consumers and engages them in activities that spread authentic product opinions to a wide audience in-person and online across social networks, blogs and consumer review sites. BzzAgent enlists "Agents" to generate widespread discussion of consumer products among their peers in-person and online across social media sites. The company has 850,000 Agents and an addressable network of 400 million shoppers worldwide through the loyalty programs managed by parent company dunnhumby.
Source:http://about.bzzagent.com/word-of-mouth/press/index/type/2/year/2012/ident/18928
Average ROI of $1.50 Determined by Leading Measurement Firms
BOSTON, MA--(Marketwire - Jan 23, 2012) - BzzAgent, the social marketing arm of dunnhumby, announces that the company's social marketing campaigns have been successfully evaluated in Marketing Mix Modeling (MMM) analysis for several of the world's largest CPG companies. MMM is considered the gold standard for quantifying drivers of business performance across all marketing channels and activities. Analysis conducted by three leading measurement firms -- Nielsen, Genpact and Foresight ROI -- has demonstrated a positive ROI for social marketing compared to other media, delivering an average return of $1.50 for every dollar spent.
The successful evaluation of social marketing in these sophisticated MMM studies enables marketers to move beyond inexact metrics of engagement so social marketing can be measured apples-to-apples to other marketing initiatives using the same financial metrics.
"This answers the debate within the marketing industry about whether social media can be measured against the sales impact of traditional media," said Dave Balter, CEO of BzzAgent. "The analysis of these market mix modeling studies proves that with the right marketing activities and data collection practices, social marketing can be a very effective investment for CPG brand managers."
The Marketing Mix Modeling analysis of BzzAgent CPG social marketing programs by top measurement firms took place between 2009 and 2011. The average return of $1.50 for every dollar spent is an example of the results social marketing can deliver for CPG companies. ROI analysis practices differ in every company, so a lower ROI may still represent a very successful campaign when evaluated in the context of the overall marketing plan.
BzzAgent specializes in helping brand marketers use social marketing to build brand advocacy and drive product sales. The company identifies the right consumers and engages them in activities that spread authentic product opinions to a wide audience in-person and online across social networks, blogs and consumer review sites. BzzAgent enlists "Agents" to generate widespread discussion of consumer products among their peers in-person and online across social media sites. The company has 850,000 Agents and an addressable network of 400 million shoppers worldwide through the loyalty programs managed by parent company dunnhumby.
Source:http://about.bzzagent.com/word-of-mouth/press/index/type/2/year/2012/ident/18928
About BzzAgent
BzzAgent, a dunnhumby company, is a social marketing company that accelerates word of mouth to drive sales. Powered by an addressable network of over 400 million shoppers around the world, BzzAgent creates measurable business results for marketers through an influential advocate network, a powerful engagement platform, and a proven analytics approach. BzzAgent has been at the vanguard of word of mouth marketing since 2001, running more than 2,000 programs for global companies including Unilever, Wrigley, L'Oreal, and Michelin. For more information visit: http://about.bzzagent.com.
About SymphonyIRI Group, Inc.
SymphonyIRI Group, formerly named Information Resources, Inc. ("IRI"), is the global leader in innovative solutions and services for driving revenue and profit growth in CPG, retail and healthcare companies. SymphonyIRI offers two families of solutions: Core IRI solutions for market measurement and Symphony Advantage solutions for enabling new growth opportunities in marketing, sales, shopper marketing and category management. SymphonyIRI solutions uniquely combine content, analytics and technology to deliver maximum impact. SymphonyIRI helps companies create, plan and execute forward-looking, shopper-centric strategies across every level of the organization. For more information, visit: http://www.SymphonyIRI.com.
BzzAgent, a dunnhumby company, is a social marketing company that accelerates word of mouth to drive sales. Powered by an addressable network of over 400 million shoppers around the world, BzzAgent creates measurable business results for marketers through an influential advocate network, a powerful engagement platform, and a proven analytics approach. BzzAgent has been at the vanguard of word of mouth marketing since 2001, running more than 2,000 programs for global companies including Unilever, Wrigley, L'Oreal, and Michelin. For more information visit: http://about.bzzagent.com.
About SymphonyIRI Group, Inc.
SymphonyIRI Group, formerly named Information Resources, Inc. ("IRI"), is the global leader in innovative solutions and services for driving revenue and profit growth in CPG, retail and healthcare companies. SymphonyIRI offers two families of solutions: Core IRI solutions for market measurement and Symphony Advantage solutions for enabling new growth opportunities in marketing, sales, shopper marketing and category management. SymphonyIRI solutions uniquely combine content, analytics and technology to deliver maximum impact. SymphonyIRI helps companies create, plan and execute forward-looking, shopper-centric strategies across every level of the organization. For more information, visit: http://www.SymphonyIRI.com.
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