A panel of industry leaders dove into the nuts and bolts of transforming traditional digital media spend into a powerhouse of precision marketing through a case study for Hershey's.
Lou Paskalis, Chief Strategy Officer at Ad Fontes Media, steered the conversation, discussing how data science has become a pivotal element in strategic media allocation. Vinny Rinaldi from Hershey's, along with Tylynn Pettrey from Chalice, outlined how they leveraged data to optimize Hershey's seasonal marketing, particularly during the high-stakes period of Halloween.
Rinaldi discussed the crucial role of targeted media spending to ensure product sell-through by November 1st, aiming to avoid post-Halloween markdowns and maximize next season's sales. If there's too much leftover product on the shelves this year, the retailer will reduce their order volume next year. Conversely, if they sell out, they will almost certainly increase their order next season.
The panel focused on how data science can refine media spending to target specific geographic areas that promise the highest sales, moving beyond traditional broad-spectrum campaigns that fail to address localized market conditions.
