Our partners at LiveRamp released a new study on People-Based Measurement and the impact it would have on marketing.
Key insights from the study include the following:
- Identity Resolution is Key to Accurate Measurement: 94 percent of marketing professionals report that a lack of “people-based” measurement capabilities makes it more difficult to create a complete view of cross-media exposure and link that view to performance metrics – such as sales and brand lift – to accurately assess marketing ROI.
- There are Common Challenges Organizations Face in Implementing People-Based Measurement: These challenges include not having the ability to link disparate data sets together for analysis (49 percent), not having identity resolution technology (48 percent), not knowing where to get started (42 percent) and not having access to enough offline sales data (42 percent).
- People-Based Measurement is the Starting Point for Creating Better Customer Experiences and Unlocking the Value of Data: Marketers and advertisers indicate the benefits of implementing people-based measurement extend beyond calculating campaign ROI:
- 75 percent of respondents indicate it will help them improve targeting and/or real-time campaign optimization
- 72 percent of respondents indicate it will help them optimize customer and prospect insights and improve product strategy, and/or improve the consumer experience
- 96 percent of respondents indicate identity resolution will be key to unlocking the value of their company’s data assets in the coming years
- While People Based-Measurement is not Yet Widely Implemented, There is Increased Investment on the Horizon:Nearly 70 percent of marketing and advertising professionals share that they have not yet implemented people-based measurement but plan to in the next three years. Additionally, over the next three years, 56 percent of respondents report that they plan to increase their in-house analytics capabilities, while 52 percent plan to invest more in marketing analytics technology.
Brian Andersen – Luma Partners
“It’s clear that identity resolution is key to solving challenges with cross-media measurement,” said Brian Andersen of LUMA Partners, “as well as helping marketers improve the consumer experience.”
LiveRamp CMO Jeff Smith
“We all know that marketers, media companies, and measurement vendors struggle to stitch together an understanding of the total
audience reached across traditional and digital channels,” said Jeff Smith, chief marketing officer at LiveRamp, “and even more importantly, tie omni-channel marketing exposure to key performance metrics like sales and brand lift. This study, however, for the first time highlights the true underlying challenge and a potential solution to this conundrum.”
AppNexus, LiveRamp™ – an Acxiom® company – and MediaMath today announced the launch of an open, technology industry consortium to make people-based marketing widely available within programmatic channels. The three companies have agreed to create a standard identity framework that enables buyers and sellers of programmatic digital advertising to create more relevant campaigns and improve consumer experience. Additional companies initially joining the consortium are Index Exchange, LiveIntent, OpenX, and Rocket Fuel.
According to Mike Ford, CEO of mobile data provider Skydeo, “Desktop data companies have a battle ahead not just competing with Facebook & Google for ad dollars but vs. the deterministic targeting of mobile. One mobile advertising ID is worth 600 cookies.”
Mobile web ad network Yieldmo recently launched its own data targeting that provides mobile web & mobile app cross channel attribution.
“Today, 48 percent of all digital advertising dollars accrue to just two companies – Facebook and Google,” said Brian O’Kelley, CEO of AppNexus. “That dynamic has placed considerable strain on the open internet companies that generate great journalism, film, music, social networking, and information. This consortium enables precision advertising comparable to that of Google and Facebook, and does so in a privacy-conscious manner. That means better outcomes for marketers, greater monetization for publishers, and more engaging content for consumers.”
The current bidding process in programmatic channels relies on proprietary identifiers such as cookies, and thus often cannot translate consumer identity across buyers and sellers, or across devices. Adding identity resolution to programmatic advertising helps marketers to deliver more-relevant content and enhances the consumer experience.
“Marketers love the fact that LiveRamp allows them to unify the people-based marketing they do with the most popular publishers with marketing in other channels,” said Travis May, President and General Manager of LiveRamp. “There’s huge demand for leveraging a deterministic, omnichannel identifier in the bidstream, as marketers want to improve their interactions with consumers by linking data from customer files and offline channels – such as in-store purchases – to media exposure in programmatic channels. The creation of this consortium will accelerate the delivery of this value to marketers and their partners in the digital media ecosystem.”
“Our clients are excited by the prospect of improved reach and precision in their marketing campaigns,” said Michael Lamb, President of MediaMath. “And we are thrilled by the opportunity to establish the strong and consistent data protection policies that consumers deserve. Upgrading this foundational piece of the infrastructure puts us on solid footing, as programmatic grows to encompass all of digital.”
Until now, the lack of a common, omnichannel, people-based identifier has created significant challenges for marketers, including the inability to coordinate campaigns across platforms, a lack of interoperability with the mobile web, and siloing across channels.
David Gosen, General Manager, Platform Solutions and SVP, International at Rocket Fuel, said, “This collaboration of businesses operating in the digital advertising space will contribute to more transparency and efficiency, which is great news for the internet and our industry. Vitally, it also creates greater relevance for the end consumer. At Rocket Fuel, we believe the future is about people, not devices, so partnering with others in the digital ecosystem to deliver this more widely is a positive move for all involved.”
“This is a natural extension of our already-deep partnership with LiveRamp and its IdentityLink service,” said LiveIntent Founder and CEO Matt Keiser. “For marketers that leverage LiveIntent’s platform for people-based marketing, the consortium expands the reach of identity-informed campaigns. For publishing brands, the consortium provides access to new identity-informed demand, increasing the value of their inventory. Marketers want access to their target audiences where they are spending time, irrespective of browser or device. Inventory sellers need to be able to provide identity resolution to buyers for targeting, measurement, and attribution. This consortium delivers what people-based marketing needs: success at the intersection of marketing and advertising.”
“Creating an open, people-based identifier across industry leaders is a major opportunity – this changes the programmatic landscape for the better, as it exposes unified methods of people-based buying to the open web,” said Andrew Casale, President and CEO at Index Exchange. “We’re extremely excited to be a part of this effort and believe it’s another positive step towards greater transparency for the industry.”
The “Live” companies have announced a people-based marketing partnership.
LiveIntent, a platform for so-called “people-based marketing” that focuses on the email channel, and LiveRamp, an Acxiom company that offers omnichannel identity resolution services, on Monday announced a partnership to offer “people-based” inventory to media buyers at scale according to a MediaPost article.
“We are just scratching the surface around people-based marketing,” LiveIntent founder and CEO Matt Keiser, told Real-Time Daily via email. “This partnership transforms regular media into people-based media, through the power of email address data, and gives marketers the ability to drive connection and frequency across channels.
“Marketing strategies now revolve around people, not devices, and with this partnership, brands can reach people programmatically, at scale. Brands can find their audiences programmatically with a level of Identity resolution previously unknown. This empowers brands to reach people wherever they are paying attention.”
One definition of “people-based marketing” is that it attempts to accurately reach consumers wherever they are (online, mobile, and in-store) and on any device. Each device offers a different experience for the consumer and invites different forms of messaging.
The combination of LiveIntent’s email inventory and LiveRamp’s acquisition of Circulate and Arbor give this partnership a great deal of volume and reach for advertisers.
“We’ve long empowered our advertising customers to buy people-based audiences across the open web and with premium publishers such as Facebook and Google,” said LiveRamp CEO Travis May. “LiveIntent’s platform offers a whole new path to crucial addressable people-based inventory from a logged-in, viewable, and fraud-free environment that is incremental to their existing efforts. Anonymized partner data securely flows into and out of the LiveIntent Platform, giving marketers the ability to close the loop on their known users. Through our partnership powered by the email address, LiveRamp will significantly increase the ease with which our customers can find their customers and prospects across LiveIntent’s audience of 145 million unique monthly people outside of the email channel. In other words, the email address, the linchpin of Identity in a modern world, will act as an identifier for brands finding their known audiences as they traverse the open web.”