NIQ Brandbank Adds Product Data Benchmarking Features

NIQ's digital product content division Brandbank has launched a new product data optimisation solution, Content Health+, providing insights into category comparison and content benchmarking.

NIQ - previously NielsenIQ - was acquired by Advent International two years ago, and provides an understanding of consumer buying behavior through an advanced business intelligence platform with integrated predictive analytics. NIQ Brandbank provides digital product content solutions to help clients optimise omnichannel shopping experiences. The unit taps Nielsen's 25 years of experience in the field and operates in 39 countries, partnering with more than 52,000 brands.

The firm says companies miss opportunities to promote some of the most searched-for attributes of their brands, and 'with lifestyle, dietary, sustainable and ethical needs at the forefront of shopper minds' are having to re-evaluate the quality of product information shared with shoppers online, as well as comparing it with the approach of competitors. Content Health+ helps clients to identify their content strengths and weaknesses, based on their content health score and competitor rank; and then to optimise the 'effectiveness and integrity' of product content.

Specifically, users can gauge their brands' 'content health' against competitor products and identify areas of improvement; rapidly identify areas for improvement using a simple traffic light colour scheme; and drive product matching with a combination of imagery and text, ensuring matches are based on similar styles of products as well as their composition and ingredients.

Brandbank Global MD Marsha McGraw (pictured) says the new tool is 'a testament to [the firm's] continued innovation and commitment to our clients to digitalise the shopper experience'. She comments: 'You can't improve what you can't measure, and we are proud to give our clients the opportunity to optimise their product content based on actionable insights to win on the digital shelf'.

The company is online at www.niq.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.