Visual IQ, which supports analytics and attribution modeling to understand how media performs, will integrate BlueKai's data on millions of unique consumers. The partnership to combine the data and analytics provides insight into the media and the messages prompting specific types of consumers to make a purchase.
The combined data tells brands which audiences have the highest value, how to find them, and what media will most likely persuade them to convert. It tells brands whether the audience segment correlates with a specific household income or likes and dislikes.
These types of nuances will create a fledgling industry for advertising and marketing geared toward helping brands find and connect with their target audience. This isn't data for the sake of audience targeting, such as lookalike modeling, but niche services that will help brands achieve better ROI results.
This means finding the correct data and having the ability to process it using insights gleaned from data in CRM, purchasing, inventory and enterprise resource-planning platforms. For major companies like Williams-Sonoma or Best Buy, these systems need to connect before real-time audience ad targeting can work.
"The advertising industry, especially the ad-tech side, remains so complex with so many players and middlemen that pulling together all the data remains a huge challenge," said Phil Gross, director of product management at Visual IQ. "The attribution space just recently turned the corner from the early adopters to the early majority implementing modeling. Two years ago companies wanted to know why they should do attribution, but now they want to know what we offer that's different."
The push to improve performance entices many marketers to dip their toe in audience buying and lookalike modeling, per Gross. As the measurement sophistication in marketing organizations continues, the pressure is on to understand the performance of the data. He said lookalike modeling needs a similar metric to display advertising and other media. Having one yardstick to measure the results is crucial to the adoption of some of these technologies.
Brands and agencies using Visual IQ’s IQ Intelligence Suite or
the BlueKai Data Management platform can upgrade to the joint offering to better understand the audiences driving the highest return on investment. The companies said customers in financial
services, and travel and hospitality sectors who are using the combined platforms are seeing results.
"Numbers" photo from shutterstock.