Australian data science and artificial intelligence leader Quantium, Fetch TV and Adgile Media have partnered to allow consumer goods business to “close the loop” and measure the impact of their TV advertising on actual sales.
Called Q.Measure TV, the partners say the solution will offer the type of reporting that advertisers have come to expect in the digital world – timely, accurate and immediately actionable.
Quantium’s executive for media & marketing, global markets, Lawrence Puang, said: “Existing solutions prove TV works. Q.Measure TV goes further in enabling advertisers to optimise their TV advertising strategies to maximise sales.
“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,” Puang said.
How Quantium works with its partners
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 3m hrs of viewing per day.
Fetch CEO Scott Lorson said: “Closed loop reporting, built on high quality first party data sets, and at a scale that reliably reflects the total market, is incredibly powerful. 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.”
Partners in pilot study
Quantium worked with a group of six FMCG organisations to pilot the new capability, including Mars Wrigley Australia, for whom marketing insights manager, Joanna Lepore, said: “We haven’t seen anything like Q.Measure TV in the Australian market; the robustness and granularity of analysis is truly impressive. 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.
“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.”
How Q.Measure TV works
Advertisers will access performance data across a range of metrics delivered through the Q.Measure TV Interactive Portal which makes extracting actionable insights incredibly simple.
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.
Q.Measure TV will officially launch to the marketplace in Q2 FY21.