[Marketing Week] Bob Koigi: Tech revolutionizes ad impact measurement
Advertisers are increasingly turning to tech solutions to accurately measure the impact of their ads and maximize the effectiveness of each campaign while it is still in progress.
This has particularly been pronounced in radio and podcast advertising, as audio consumption continues to record meteoric rise.
Tech companies are cashing in, by introducing innovations that allow advertisers access to data insights that they can plan campaigns against and making it easy for advertisers to tailor conversion metrics to best suit their campaign goals.
Global player in digital audio and podcast advertising solutions AdsWizz, is the latest to join the fray, by introducing AdsWizz attribution technology that enable advertisers to see which conversions can be attributed to their audio ads. AdsWizz attribution technology is the first solution to combine cross-device audio ad tracking and attribution reporting in the same platform.
In a study of 600 campaigns that have used AdsWizz attribution technology, advertisers saw a 4.0% average conversion rate of ad impressions, and of the campaigns tracking purchase related conversions, 82% of advertisers were able to attribute a purchase to the audio advertising campaign.
Still on innovations that continue to redefine operations in media, advertising and marketing space, Advertising Bureau of Canada (IAB Canada) recently selected Quantcast Choice, a solution from global advertising technology company Quantcast, as its consent management platform (CMP).
Quantcast Choice, implemented across more than 3 million publisher and marketer domains globally, solves for compliance and consent with consumer privacy, transparency, and trust at its core. It supports the Transparency and Consent Framework (TCF) 2.0 and other key privacy regulations and industry standards.
Quantcast Choice increases control and decreases complexity for website owners needing to know which vendors and partners have access to consent data. Additionally, Quantcast Choice helps publishers and brands maximize advertising revenue and optimize consent rates.
In the partnership front, Catalina, a company involved in in shopper intelligence and omni-channel media solutions, has announced its interoperability with Verizon Media ConnectID to enable robust measurement capabilities for CPG advertisers in a cookieless world.
Verizon Media ConnectID enables advertisers to reach their audiences and provide people with relevant and useful connections with brands without the need for cookies.
Altice is launching its new free VOD platform for live TV, replays and exclusive content. Called RMC BFM Play, this new platform provides easy access to the programs of the RMC and BFM channels, integrating all the features made possible by digital technology, and promoting the news, analysis and discovery themes of the Group's channels.
The Black-owned network, which features a mix of original programming and content from a host of familiar networks, was a participant in Mediabrands first annual Equity Upfront™. Created by MAGNA, the Equity Upfront™ showcased Black-owned and targeted media businesses to advertisers. Subsequently, Mediabrands pledged it would collaborate with clients across the network to invest a minimum of 5% in Black-owned media channels in aggregate by 2023.
In other news, The Institute of Practitioners in Advertising, IPA, has announced that ClickThrough Marketing, CNS Media, DDB Remedy, GottaBe! Marketing, Lavery Rowe, Media Bounty and One Black Bear have been elected into IPA membership at its quarterly council meeting.