In a strategic move aimed at enhancing advertisers’ capabilities to leverage retail insights for improved marketing performance, Circana, LLC has announced an expansion of its partnership with LiveRamp (NYSE: RAMP), a leading data collaboration platform. This expanded initiative reflects a growing demand from brands for more effective advertising solutions that incorporate secure and responsible data collaboration, utilizing the innovative LiveRamp Clean Room.
Circana, a major player in the consumer sales data sector, reports tracking approximately $5.8 trillion in consumer sales, establishing itself as a leader with comprehensive, verified data that considerably surpasses many conventional data providers. This expansive dataset is underpinned by unique retailer membership loyalty card data, particularly in the U.S. consumer packaged goods (CPG) sector, which allows for superior sales coverage. Moreover, Circana’s Complete Consumer™ receipt panel, encompassing around 200,000 static households, delivers essential insights across various general merchandise categories, including luxury beauty, consumer technology, apparel, and foodservice.
The integration of Circana’s data with LiveRamp’s collaborative framework promises advertisers seamless access to rich, aggregated retail transaction data. This accessibility is poised to deliver critical omnichannel insights that can inform real-time, data-driven decision-making, potentially enhancing competitive advantages for brands in a crowded marketplace. Advertisers can utilize Circana’s premium data assets to create more nuanced consumer profiles, which are informed by actual purchasing behaviors across product categories, thereby informing more targeted marketing strategies.
Through this partnership, brands will be able to define and target high-value audiences by tapping into Circana’s aggregated purchase data, offering a reflection of genuine consumer buying patterns across various retailers. This capability enhances the effectiveness of campaign distributions via LiveRamp’s expansive data collaboration network, which spans over 150 digital destinations, facilitating advertisers in reaching their desired consumer demographics more effectively.
The partnership also focuses on enriching advertisers’ first-party data with insights derived from Circana’s purchase data directly within the LiveRamp Clean Room. This integration enables a deeper level of analytics and more granular audience activation potential, vital for businesses seeking to optimize their marketing spend. In an environment where real-time performance metrics are crucial, advertisers will benefit from the ability to measure campaign performance promptly, employing conversion attribution analytics to refine their tactics and strategically optimize their marketing efforts for improved return on investment (ROI).
“Our commitment is to deliver comprehensive data and innovative solutions that empower our clients to make informed, confident decisions leading to maximized sales outcomes,” stated Dave Slowik, executive vice president of Global Media at Circana. His sentiments were echoed by Vihan Sharma, chief revenue officer at LiveRamp, who emphasized the ongoing enhancement of advertisers’ capabilities to plan, target, activate, and measure their marketing efforts. The integration of clean room intelligence, alongside standardized data approaches, is expected to make data more interconnected and adaptive, thus delivering actionable insights more swiftly.
Circana’s expertise extends beyond mere data provision; the firm is a leader in empowering fast-moving consumer goods companies, durable manufacturers, and retailers to optimize their operational strategies through technology and predictive analytics. The Liquid Data® technology platform, which underpins Circana’s offerings, is built upon a vast and high-quality dataset, harnessing intelligent algorithms developed through decades of industry expertise. This array of resources allows clients not only to measure their market share but also to unearth the consumer behaviors that inform it, essential for strategic growth in an increasingly complex and swiftly evolving economic landscape.
In an era where data-driven decision-making is paramount, the collaboration between Circana and LiveRamp represents a forward-thinking approach to advertising strategy. As brands navigate the challenges and opportunities presented by contemporary consumer behaviors and market dynamics, access to comprehensive, actionable data through this partnership may prove vital for their ongoing success. As circumstances continue to evolve, the integration of advanced data analytics and insights will undoubtedly remain central to driving meaningful results in a highly competitive advertising environment.