Australian data science and artificial intelligence business Quantium, television subscription service Fetch TV and real-time ad measurement and analytics company Adgile Media have announced a partnership that will allow consumer goods businesses to “close the loop” and measure the impact of their TV advertising on actual sales.
The solution, Q.Measure TV, delivers reporting that is timely, accurate and immediately actionable.
“Existing solutions prove TV works. Q.Measure TV goes further in enabling advertisers to optimise their TV advertising strategies to maximise sales," says Quantium executive for media and marketing, global markets Lawrence Puang.
“This is a game changer in measurement and accountability for a sector that spends, on average, more than two-thirds of its advertising budget on TV.
“Never before have FMCG advertisers been able to see exactly who they reached at an anonymised level, to measure how those consumers have responded and then accurately optimise campaigns to drive customer acquisition and incremental sales for existing shoppers."
Adgile Media creates proprietary, rich, structured data from live and on-demand TV content to validate media schedules and fuel smart TV measurement and analytics.
Fetch TV measures the viewing behaviour of 7% of Australian TV households, across nearly three million hours of viewing per day.
“Closed loop reporting, built on high quality first party data sets, and at a scale that reliably reflects the total market, is incredibly powerful," says Fetch CEO Scott Lorson.
"It promises to reinforce the value of free-to-air TV advertising, and enhance the ability of advertisers to optimise their investment decisions for this critical media.”
Quantium worked with a group of six FMCG organisations to pilot the new capability, including Mars Wrigley Australia.
Mars Wrigley Australia marketing insights manager Joanna Lepore says the Australian market hasn't seen anything like Q.Measure TV before.
“This will be an enormous value add for brands looking to innovate in advertising, both to more accurately demonstrate ROI and to better understand our audience through their reaction," says Lepore.
"As an evidence-based company, we were proud to be part of the product development process from the very beginning, as it allowed us to see the complexity and rigour behind bringing this innovation to market.”
Advertisers will access performance data across a range of metrics delivered through the Q.Measure TV Interactive Portal.
Key data points include conversion rates, precise demographic breakdowns on consumers reached and then converted and the advertising levers that can be pulled to drive acquisition and sales.
Q.Measure TV also enables advertisers to compare the success of their campaigns with others in their category enabling them to react in real-time to changes in category marketing dynamics.
“We’re incredibly excited to combine our independent, first party, real-time TV data with such an innovative new product," says Adgile Media chief revenue officer Craig Service.
"When you have transparent data, you have transparent answers. Adgile’s role in this powerful partnership is to provide real-time granular, structured and accessible TV data to fuel Q.Measure TV, ensuring the measurement outputs are delivered with actionable speed, accuracy and calculated on transmitted only audience impressions.”
Q.Measure TV will officially launch to the marketplace in Q2 FY21.
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