IRI today announced that it has been selected to join the Marketing Mix Modeling (MMM) Program on Facebook. IRI can now leverage Facebook performance metrics to drive marketing measurement.
Marketing mix is a data-driven statistical analysis that quantifies the incremental sales impact and ROI of marketing activities, measuring both offline and online sales across channels.
IRI says the addition of the integration with Facebook allows advertisers to have a more complete picture of their total marketing spend.
“In becoming a member of the MMM Program, IRI will offer clients comprehensive insights about the performance of their total marketing spend, an increasing portion of which is invested on Facebook,” said Nishat Mehta, president of the IRI Media Center of Excellence. “Ultimately, our platform helps marketers more effectively measure the business value and outcomes of their marketing campaigns, across every relevant channel.”
“We are thrilled to have been selected to join this impressive list of providers and believe it is a recognition of the power of our analytics solutions and decision-support tools,” said KK Davey, president of Strategic Analytics at IRI. “Now, Facebook data is integrated seamlessly and quickly into our marketing data management platform (mDMP) along with other media and marketing data. We can quantify the impact of social media performance on offline and online sales, and help marketers simulate various scenarios in the IRI Marketing Foresight solution.”