How BuzzFeed Used Marketing Mix Modeling to Help CPG Advertisers

October 29, 2019 Ginna Hall

Is your advertising working? How do you know? BuzzFeed advertisers have the proof and so can you.

As a leading independent digital media company, BuzzFeed leverages data and innovation to reach hundreds of millions of people around the world.

To deliver maximum value to CPG advertisers, BuzzFeed decided to commission its own marketing mix modeling study to understand how its campaigns are driving value and return on investment. Nielsen, known for its leading statistical approaches and extensive datasets, was a perfect fit for the role.

“CPG brands rely on Nielsen for its currency-quality data and trusted, independent measurement. By commissioning our own MMM analysis, we were able to pull back the veil to see how BuzzFeed's cross-platform approach compares to other marketing channels,” said Josh Peters, Director - Data Partnerships, BuzzFeed.

“Leveraging a trusted third party like Nielsen allowed us to do this without bias or guesswork. The findings have been invaluable and given us the data we need to recommend the best possible product mix to meet our advertisers' goals. We're proud to be able to showcase how BuzzFeed is driving stronger ROI for our clients compared to many traditional tactics including TV, print, OOH and radio.”

>> Register now and learn more: 5 Things You Didn't Know about Buzzfeed Advertising: Insights from an Exclusive Marketing Mix Modeling Study on November 19 at 1:00 PM ET. <<

Proving the Impact of Advertising

BuzzFeed made a name for itself with a cross-platform distribution model that largely ushered in the era of “viral media.” Since then, the platform has grown in popularity among millennial audiences and now reaches 83% of millennials per month.

To help consumer packaged goods (CPG) companies and others tap into this large and powerful generation of buyers, BuzzFeed expanded its catalog of advertising options. Offerings now range from lists and quizzes to custom native content, branded videos, standard and programmatic display, commerce offerings and more.

CPG marketers are under more pressure than ever before to prove the business impact of their efforts. That means spending more on what’s working and spending efficiently for the best outcomes.

Many of these marketers rely on third-party measurement providers to assess the impact of their advertising – including their investments in BuzzFeed. BuzzFeed wanted access to insights and learnings about how its campaign executions performed, but lacked the transparency intoperformance it needed to support advertising recommendations with objective data.

BuzzFeed’s goal was to leverage data to customize campaigns for CPG advertisers and create the ideal mix to maximize their ROI in the BuzzFeed platform.

Actionable Performance Insights

Nielsen’s Marketing Mix Modeling solution provided BuzzFeed with clear and actionable performance insights it needed to demonstrate the effectiveness of its platform and deliver optimized plans for CPG advertisers.

Nielsen began by conducting a meta-category marketing mix modeling analysis of ten brands in the prepared foods and liquor categories. The advertising tactics analyzed in the study included BuzzFeed’s native content, display and custom video offerings.

BuzzFeed sourced the exposure data for the analysis, while Nielsen’s Ad Intel service provided data on TV, radio and OOH spend, in-store activations, and other digital activities for the same set of advertisers. The results were then rolled up to determine the average volume contribution and ROI for each tactic.

BuzzFeed learned actionable takeaways to help CPG advertisers maximize effectiveness. For example:

  • In the liquor category, BuzzFeed video had the strongest volume response among other BuzzFeed tactics and can serve as a powerful vehicle for helping brands increase market share.
  • Increasing weekly video impressions could boost average effectiveness as much as 13% for liquor brands.
  • In the prepared foods category, BuzzFeed display drove the highest efficiency while native content yielded highest effectiveness.
  • Increasing weekly native content impression levels could boost average effectiveness as much as 10% for prepared food brands.

Leveraging insights from the marketing mix modeling analysis, BuzzFeed is now able to make more informed, data-backed optimization recommendations for CPG advertisers so they can make the most out of their investments in the platform.

The findings have also spurred ongoing product development and packaging discussions centered around tailored solutions and media mixes that serve specific verticals.

Learn More > Webinar

Register for our webinar and learn how BuzzFeed proved the value of advertising to help CPG companies maximize value.

5 Things You Didn't Know about Buzzfeed Advertising: Insights from an Exclusive Marketing Mix Modeling Study

Join Josh Peters, Director, Data Partnerships and Shari Cleary, SVP of Research, Insights & Brand Planning at BuzzFeed, as well as Matt Malone, Sr. Manager, Marketing Effectiveness at Nielsen, as they share the findings from a BuzzFeed-commissioned marketing mix modeling study that showed how their campaigns are driving value and ROI for advertisers. 

You’ll learn:

  • How BuzzFeed advertising impacted sales for CPG brands
  • How to optimize campaigns for better sales impact and efficiency across the media mix
  • Why marketing mix modeling plays a critical role in a modern performance measurement strategy
  • Tactical recommendations to make ROAS stronger overall for marketers on any channel

Date: Tuesday, November 19
Time: 1:00 PM ET

Can't make the live webinar? Register anyway and we'll send a link to the video recording to view on demand.

 

 

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