Arbitron and three radio networks announced Monday (Dec. 7) a project to help refresh marketing mix models with portable people meter data. The consortium, which includes Dial-Global, Premiere Radio Networks and Westwood One, plans to target the companies which provide the models and analytics used by advertisers in the planning stages to determine the marketing mix, such as The Hudson River Group, Analytic Partners, Marketing Management Analytics, Accenture and Analytic Partners.
To help guide and coordinate the effort, the consortium has retained Sequent Partners.
While radio has been included in marketing models, the medium has not been well represented because those models have relied on less timely, less actionable diary-based data. As a result, advertisers have found it difficult to demonstrate radio's impact on product sales.
"This initiative is a major effort designed to help radio claim a larger share of marketing spend," said Carol Hanley, senior vp and chief sales officer for Arbitron.
The consortium has not yet approached the marketing mix companies, but consortium members believe it will bring more dollars to the medium.
"This project will ensure the best practices and data available are employed when determining the value of our medium to an advertiser's potential investment," said David Landau, CEO and president of Dial-Global.