We've all been bombarded with big data in recent months. Big data is going to change everything about media buying, creative, and attribution, right? Well, maybe, but one thing is for sure: Big data is making attribution models a whole lot more accountable.
One of David Ogilvy's most famous quotes is, "If it doesn't sell, it isn't creative." For generations, companies have used everything from in-store pollsters to register scans to see what effect campaigns have had on in-store sales. Today, advancements in ad technology can enable advertisers to determine if consumers who saw an advertisement actually purchased a product -- or a competitor's. Some technologies can even optimize campaigns to drive specific actions.
During a Spotlight session at the iMedia Agency Summit in Austin, Texas, Videology revealed new research and case study results from brands that are using these technologies to drive digital strategies and improve campaign ROI. Videology's presentation focused on how brands can connect their digital in-stream video advertising, as well as mobile in-stream video and display advertising, to specific offline purchases in key verticals such as auto, CPG, retail, and others.
For years, this form of "addressability" has been regarded as the next stage in broadcast-to-digital for television. Anyone remember "convergence"? Addressable TV marries elements of digital and broadcast to make it a reality today.
Videology's presenters, Christa Rimonneau, VP, North American sales, and Aleck Schleider, VP, data and vertical products, broke it down into three steps:
- Activating the data for precise buying
- Capitalizing on convergence, since consumers watch across devices
- Delivering ROI validation, which is where so many accountability-assessing technologies are focused today
Activating the data for precise buying
Videology works with more than 25 third-party data partners to eliminate waste in buys by making them more precise, based on criteria they can glean through enormous data sets. Imagine parsing 20 billion targetable audience attributes on a daily basis. This is routine for the company's technology, and it enables it to verify its audience optimization on a vertical and behavioral basis. The company also works with Nielsen, Kantar, and Prism to make sure it is accurate as well as precise.
Capitalizing on convergence
Google research conducted last August showed that as many as four out of 10 consumers have started watching a video on one device and finished it on another. That's a compelling reason for buyers to know how to best reach any consumer, and to rely more on the insights provided by data than on the old standard of TV gross rating points. After all, study after study demonstrate that consumers recall advertiser messages as much as 64 percent more if they've been exposed to them on multiple devices.
Delivering ROI validation
Too many interactive buyers remain wed to the archaic click-through metric. But this new era sees more buyers demanding actionable and important insights from their campaigns. Branding impact, action impact, and sales impact are all measurable through the Videology platform. The ability to measure branding impact across devices, action impact against any number of KPIs dictated by the buyer, and close-loop measurement of in-store sales against a given media buy might sound like the Holy Grail. Videology is doing this today for retail, automotive, and CPG buyers. The case study used to demonstrate this in Videology's session was for an unnamed CPG buyer that saw a four-fold lift for in-store sales, thanks to Videology's optimization.
Look for more advertisers to demand this kind of technology on the front- and back-end of campaigns to come.
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