Radiocentre Ireland and TAM Ireland have joined forces to launch Ad Value, an initiative to produce detailed evidence demonstrating the return on investment from advertising in the Irish market. Miix Analytics, a Canadian based marketing mix modelling company have been appointed to run the project which involves collating evidence from existing economic econometric studies carried out in the Irish market.
The objective of the Ad Value initiative is to deliver insights specific to the Irish market around average short term profit ROI, long term profit ROI estimates, and the percentage of sales volume attributed to different media in Ireland. The Ad Value initiative is working with all Irish media agencies and their clients to provide a robust data set to deliver aggregate benchmarks for the Irish market.
Ciarán Cunningham, CEO Radiocentre Ireland said “I am very excited about this initiative and I am delighted to partner with TAM Ireland to deliver much needed benchmarks specific to Ireland around the ability of radio, television and other media to drive a positive return on investment for advertisers”
Jill McGrath, CEO TAM Ireland said “ We at TAM Ireland are thrilled to participate in this collaboration with Radiocentre Ireland, aimed at generating empirical data on the efficacy of advertising in Ireland. This research will enable advertisers to clearly understand the value that various media platforms, including TV and radio deliver through driving brand profitability.”
Miix Analytics is founded by industry veteran, Hilary Borndahl. Having spent her career on the supplier side, Hilary learned the art and science of Marketing Mix Modeling (MMM) during her role at The Modeling Group, a Nielsen boutique. Hilary is a deep subject matter expert in ROI, MMM, and advanced marketing analytics and his worked with clients such as P&G, Coca Cola, Unilever, Kellogg's and Mondelez.