Pinterest Looks to Big Data to Help Advertisers Maximize Sales Lift
Big data and predictive analytics solution IRI is cozying up to one of the Web's social media elite in Pinterest.
IRI has announced a partnership with Pinterest that will enable the companies to measure advertising campaigns in order to create a lift in sales for brands leveraging the platform.
The new IRI Lift for Pinterest solution, which is expected to launch in Q3 2017, will integrate Pinterest’s advertising exposure data with IRI’s big data assets to link advertising exposure on Pinterest to actual offline purchases, both on Pinterest itself and on other platforms (as far down as the specific product and household levels).
Marketers will be able to see campaign analytics with 80 percent more accurate results according to the companies and be able to use the information to adjust campaign to ensure that they are delivering relevant messaging to their consumers. The solution also will enable measurement of engagement via loyalty and lifetime value analytics as well as analysis of Pinterest KPIs like pins, pin close-ups, pin click-throughs, repins, time spent and number of visits for a deeper understanding of sales performance and its drivers.
“The integration with Pinterest builds upon the success of IRI Lift, the industry’s leading solution to deliver deeper, more accurate and granular campaign results in real time and on the fly,” said Andrew Appel, president and chief executive officer, IRI.
“This transformative partnership will bring to life IRI’s vision of driving media personalization and relevancy with real-time measurement through a distinctive media asset like Pinterest. With tools such as IRI Lift for Pinterest, advertisers and agencies will have the ability to develop long-term personal relationships with brands, and gain insight into which elements of a digital campaign are most effective at driving short-term offline sales and long-term brand resonance.”