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How effective are social media advertisements at generating sales at grocery stores? That’s the question a new tool being added to Facebook and Instagram is looking to help answer for CPG brands.
Meta and IRI are partnering to provide brands with results that connect in-store sales and shopper marketing campaigns conducted on social media.
It means that marketers on Meta-owned Facebook and Instagram will have access to brand and product-level sales results for shopper marketing campaigns. This will be provided in the form of automated campaign measurement from a SaaS platform powered by IRI.
The platform, called Ansa, provides proprietary analytics on campaigns for specific products or retailers across hundreds of manufacturers and US retailers. It also provides hyper-local targeting recommendations and optimization, as well as analysis of a campaign’s sales lift based on the results of test media that is run in certain locations.
"Measuring the incremental omnichannel sales impact of retailer-specific social media investments has long been a challenge in the industry," said Stephanie Pegler, ecommerce marketing director at PepsiCo, in a statement announcing the partnership. "The measurement partnership between Meta and IRI enables PepsiCo to understand how its retailer-specific Meta campaigns drive omnichannel sales. This is critically important for informing how to most effectively plan and optimize Meta buys as part of our media mix."
It underscores a key consideration for brands seeking to understand results and make decisions about their investments:
What was the incremental increase in sales during a campaign, when compared to the sales that would’ve taken place during that time period without a campaign? In other words, how effective was a campaign run in one place at delivering sales in another?
These are age-old questions in marketing, but the internet’s ability to provide real campaign metrics and advances in computing power that executes complex analysis quickly are making the answer more measurable. At the same time, brands are showing up in more channels. This is just one example of a tool that is helping brands understand the full picture of how these activities impact each other, and what is driving results.
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LadderUp is aiming for 50% LGBTQ+ and BIPOC participation. Shopify will provide access to its platform.
Shipt is launching a new accelerator program designed to provide ecommerce tools for local retailers.Called LadderUp, the program is centered on equity. Target-owned delivery owned Shipt said conversations with business owners have revealed that local entrepreneurs face “gaps” in technology, but they also want to participate in ecommerce platforms. The COVID-19 pandemic was especially difficult for Black business owners, who saw earnings drop between 11-28% in 2019-2020, as compared to the earnings decrease of 5-17% for the rest of the population.
With the new program, the company’s goal is to reach at least 50% LGBTQ+ and BIPOC participation in the program.
Shipt is aiming to serve businesses in Atlanta, Birmingham, Alabama, Detroit, Houston and Washington, D.C.
Target categories include: grocery/beverage, health, beauty, and floral/gifts retailers.
“Working with small businesses to build up their capabilities is a key part of our commitment to help create healthier, more resilient and equitable communities,” said CEO Kamau Witherspoon. “We recognize the unique role that we can play in both combating hunger in under-resourced communities and boosting small, local retailers that are so vital to communities across our country.”
What will entrepreneurs receive?
Education: Business owners who are selected will receive an 8-week course with industry leaders that covers business-building topics including finances, efficiency, marketing, ecommerce 101, the basics of using Shipt, and legal knowledge.
Funding: Upon completion, retailers will provide $5,000 for businesses to invest in ecommerce.
Shopify access: Shopify, which is partnering with Shipt, is also providing to its access for a limited amount of time to help business owners build an online storefront and manage inventory. The program will also provide technical assistance.Applications are open Feb. 6- March 6.