In tough economic times, ad spend could be kept up if buyers can see data evidencing their impact.
The industry has a swathe of companies aiming to provide that evidence.
In this video interview with Beet.TV, Stephen Upstone, CEO and founder, LoopMe, explains his approach.
Surveys as ads
“We ran about a hundred million surveys in the last 12 months,” Upstone says.
“And then (we are) using that data in real time, with AI and machine learning, to drive better and better results.”
Specifically, the responses are used to understand audience feeling, and heightened consideration, purchase intent, affinity and trust. And Upstone says it works even for mid-funnel campaigns.
“If you see a video ad for an ice cream or a car, you don’t click and buy that ice cream or that car immediately, but something clicks, something that changes that can be measured,” he says.
LoopMe is a 10-year-old company with offices around the world. It previously unveiled a product upgrade aimed at using real, observed data points about consumer outcomes that flow from ad exposure to course-correct connected TV ad campaigns mid-flight.
LoopMe’s PurchaseLoop aims to go beyond “proxy” ad metrics like views and click-throughs by using a massive audience data pool and AI algorithms to identify real uplift outcomes like awareness, consideration, favorability, intent, foot traffic and offline sales.
For example, the company previously helped Audi drive a 31% increase in visits to LA dealerships, by using ad and mobile location data to recalibrate the brand’s ads.
Data to DMP
Proving ad effectiveness is particularly important as the economy tightens, Upstone suggests.
“Marketers know that they cannot give up on brand advertising,” he says. “That’s their equity, their long term value. But they want to make those adverts work a little bit harder.
“A classic brand lift survey would run to consumers on a panel and ask them what they thought about various brands…
“We are running those as adverts and then combining that data, with consumer consent, into our DMP.”