Lyre's Spirit Co follows up investment injection with global media partnership
- 10 January, 2022 10:06
Non-alcoholic spirits brand, Lyre’s, has brought on Audience Precision to support its media strategy, planning and buying as its looks to build out a bigger global presence.
The Australian company, established in 2019, has already been operating outside of Australia with 50 distribution partnerships and more than 9000 points of presence globally. It’s now looking to accelerate activity.
The brand has 15 alcohol-free products and five ready-to-drink offerings and was the brainchild of Mark Livings and Carl Hartmann. In November, Lyre’s secured a $37 million capital investment injection, bringing its market value to $500 million.
Lyre’s said the latest Audience Precision partnership followed an eight-month bespoke research study conducted by the agency to understand the right course of action for the brand to realise global opportunities. The agency was chosen for its ability to provide research, insights, strategy and execution under its ‘single red thread’ approach. This is realised through its Precise360 platform, which taps into a consumer behavioural research dataset to create psychographic-based audience segments and insights for media strategy and campaign reporting.
Lyre’s Non-Alcoholic Spirits global CMO, Paul Gloster, said the partnership with Audience Precision is a cornerstone of an ecosystem created to deliver global growth across the company’s product range.
“It takes all the learnings from years of experience working on global brands and brings them together with the highest degree of ‘smarts’ to fuel growth at pace with consistency for our teams across the world,” he commented.
According to figures quoted by Livings, the no and low alcohol category already accounts for 3 per cent of the total beverage market and is projected to grow by 31 per cent by 2024. Rising interest in alternative products to alcohol has been driven by the wellness movement as well as Covid pandemic environment.
Yet different markets are exhibiting differing level of maturity and understanding of non-alcoholic beverages. So Lyre’s has been working to build out both a more bespoke and trends-driven marketing approach to inform its plans. It’s also put an emphasis on both distribution and direct-to-consumer investment.
This work saw Gloster recently recognised on the CMO50 list of Australia’s most innovative and effective marketing leaders for 2021.
Watch: Lyre's CMO Paul Gloster talks through his approach to launch marketing
Lyre’s joins a list of recent client wins for Audience Precision, including RedEarth Energy Storage, L’Occitane and RM Williams. The Lyre’s appointment is effective immediately.
“We have the same startup mentality as Lyre’s and our bespoke research study that identified growth opportunities gave Lyre’s the confidence to appoint us to help them deliver on their global growth ambitions,” Audience Precision global CEO, Haydon Bray, said. “It’s really exciting.”
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