How will the new Facebook-Dunnhumby tool quantify FCMG digital marketing spend?
Dunnhumby’s new ‘Sales Impact tool’ seems to be the first step towards addressing one of the biggest challenges facing FMCG brands – how to measure the returns of digital marketing investments on advertising platforms. With online advertising becoming a significant revenue stream for platforms such as Facebook, and new tools such as “Canvas” making waves, it’s no surprise that brands are now demanding more specific feedback on the results of their digital marketing campaigns.
The idea behind the new tool is that brands will finally get answers to questions previously dodged by traditional marketing outlets, such as “how often should I expose an audience to my adverts?” and “how do different audiences respond to different adverts?”. Arguably, the most important question that brands are hoping will be answered with the new tool is – how are my online investments influencing in-store and online sales? To answer this question, Facebook will draw on data provided by their 37 million UK monthly users, and Dunnhumby will use anonymized data gathered from 17 million UK shoppers, via a third party, Acxiom, to track the results of the Facebook campaigns that brands have run.
The two sources of data will then be cross-referenced in order to show whether those who viewed the online campaign actually went on to buy the product either in-store or online. Dunnhumby have also announced that there will be “additional modelling” in order to account for the entire UK grocery retail market. In short, their combined data will be able to determine whether an online user exposed to the campaign then made the decision to buy the product either during its run or in the eight weeks afterwards.
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You will get the latest updates on the new 'Canvas' tool for optimised mobile advertising from Caroline Gabor and Emma Fudge, Client Solution Managers at Facebook.