Welcome to Our Syndicated Data Insights Series! Topic 1: Fundamentals of Syndicated Data
In today's data-driven world, syndicated data is a powerful tool for understanding the market, staying competitive, and making informed business decisions. But with so much data and so many platforms out there, it's easy to feel overwhelmed. That's why we're launching this Syndicated Data Insights Series - take you from "data novice" to feeling confident, savvy, and ready use data strategically.
Throughout the series, we'll start with the basics of syndicated data and gradually move into advance concepts, giving you practical steps and tips build your skills and put insights into action. Whether you're just beginning with syndicated data or looking to strengthen your foundation, we'll help you navigate, interpret, and use these insights to support your goals.
In Topic 1, we'll kick things off with the fundamentals of syndicated data - what it is, where it comes from, and why it's essential for understanding market trends and consumer behavior.
What is Syndicated Data?
Syndicated data is aggregated from retail sales activity, capturing every time a product is purchased - in-store or online. This data can include retailer sales (POS) data, shopper panel data, or both, helping you understand shopper demographics and buying behaviors. It's different from primary research because it reflects real purchases, giving you insights into actual behaviors rather than self-reported intentions.
Data providers like NielsenIQ, Circana, and SPINs each offer unique focuses. NielsenIQ and Circana provide POS and panel data, while SPINs specializes in natural and wellness insights. Selecting the right provider depends on your business needs and the data your key retailers rely on.
Why Does Syndicated Data Matter?
Competitive Insights: Defend your shelf space by knowing how you measure up against competitors.
Category and Market Performance: Track how your category is performing overall and identify growth opportunities.
Loyalty and Shopper Data
Retailer loyalty data providers like SymphonyAI and 84.51° allow you to dive even deeper into purchasing behaviors, tracking not only what's being bought but also by whom and how frequently. This data is invaluable for understanding brand loyalty, basket composition, dynamics of switching in between brands, and for creating personalized promotions that resonate.
Here's the bottom line:
You might be thinking, "This sounds great, but can my brand afford it?" or "Is this a 'must-have' or a 'nice to have'?" Imagine having data that shows your brand generates $15,000 per store annually compared to a competitor's $5,o00, or you had a great year of sales growth +5%, but then you realized that your share is down due to another brands stronger growth of +10%. Insights like these can strengthen your case in retailer meetings, helping you expand your footprint and prove your value to the category. It can also help you adjust your tactics and make improvements to grow even faster.
If your curious about which data to focus on, let's chat! Just book a free consultation using the link below👇, and we'll explore the best options for your brand to get ahead.
In our next topic, we'll get more hands-on with navigating platforms, market segmentation, and basic data interpretation. If there is anything else you would like to learn more about this topic send me a note and I would be more than happy to include in the series. Looking forward to diving into data with you!
