Very informative, interesting presentation today from Karen Gryson of Coca Cola. She spoke at the Shopper Insights in Action 2010 conference sponsored by IIR US. Her presentation focused on Coke’s research in improving POP effectiveness. That’s a very important topic of discussion considering the size of the P.O.P spend at CPG companies in aggregate. Coke cites of the $14 billion spent annually 80% is waste.
Coca Cola’s effort at getting a handle on this element of the marketing mix included a three-pronged approach. First, they would conduct POP effectiveness conjoint research. The research looked at which elements of POP needed to be “right” (turns out the key visual is most important). Next they looked at how to understand and model “breakthrough” POP. They set up a protocol using a variety of POP with respondents but unfortunately were unable to model predictive breakthrough. And, finally they turned to leveraging eye-tracking and neuroscience to get answers that respondents can’t articulate.
Coke’s conclusion: there is no secret formula to great POP but there are some key principles and benefits. Effective POP helps you “close the deal” with consumers, get your fair share of wallet, and stimulate impulse purchase making POP a marketing ROI multiplier.
So, alas, there is no secret formula for effective POP… yet. But with Coke and others continuing to research and create new insights, better POP is certainly attainable!