CPG companies significantly trail their retail peers in accessible consumer data to make effective business decisions, with some estimates that they have less than 10% of all traffic and customer relationship databases (CRM). This disparity provides an opportunity for brands to partner with merchants, through analytics companies such as Evidnt, to capture and activate the largely untapped data. Further, Boston Consulting Group’s research with CPG leaders revealed that nearly 90% cited data collection, activation, and scaling as key obstacles to their marketing goals.
With this challenge in mind, we built the Evidnt Impact Measurement.
Evidnt’s Impact Measurement platform provides real-time media measurement, insights, and opportunities for optimization. Our advanced analytics simplifies the collection of data through seamless and cookieless integrations with publishers, marketers, and media partners. Through direct point of sale integrations with tens of thousands of merchants, we provide unprecedented scale without any collection of buyer personal information (PII).
“At Nextdoor, we’ve used Evidnt’s Impact Measurement solution to understand how our CPG advertiser’s initiatives are driving both national, and local omnichannel sales results. For a category like CPG that is always looking for more granular insights, we’ve been impressed with the speed and actionability of the reporting to drive results for our partners” stated Colin Johnson, Head of Retail and CPG at Nextdoor.
Facebook accounts for nearly a quarter of all advertising spending, close to $50B in US, with continual growth above 10% over the next few years. Recently, Facebook has warned that it expects revenue growth to slow down “significantly” in the second half of 2021 (source: BBC).
Similarly, Snapchat and other social platforms have also seen a significant decline in investment, identifying privacy changes as the biggest challenges marketers are facing in measuring the full value of investments.
The slow down in growth can be directly attributed to numerous privacy changes, in particular Apple iOS updates, which is leading to underreporting in digital metrics by an estimated 15%. These limitations in mobile tracking and deep off-line sales insights can leave brands guessing for the real-world sales impact of their social investments.
Now, with Impact Measurement for Social, brands can access real-time sales data to deliver optimizations that drive sales growth and market share, beyond clicks and impressions on social media platforms.