Singular, a marketing intelligence platform, recently released technology that calculates the return on investment across devices and platforms globally, but the company's CEO said developers are working on a model that will tell marketers in advance of launching the campaign.
The platform has access to enough cross-device data and the amount spent by some of the biggest brands in the world to build simulation models that can pre-determine the ROI investments.
This will allow marketers to predict the return based on devices and platforms used, as well as budgets and media buys, said Gadi Eliashiv, CEO and co-founder, Singular.
“It’s on the roadmap,” he said, to support brands such as Nike, Tinder, Lyft and DoorDash.
For now, the reporting platform, Cross-Device Attribution, shows the ROI as the customer journey unfolds, as marketers spend additional funds and drive consumers through devices.
Many companies under report ROI. “If someone spends $1 million on Facebook and the conversion happens on the web, brands will be able to track the consumer’s journey,” said Gadi Eliashiv, CEO and co-founder. “Companies are spending millions of dollars and the numbers are not accurate.”
The reporting platform shows the ROI as the customer journey unfolds, as marketers spend additional funds and drive consumers through devices.
The company’s goal is to track all media. Partnerships with Google, Bing, Facebook, Snap, Pinterest, and others help Singular understand the data.
“This wasn’t easy to solve because we had to understand the journey on mobile as well as we did on the web,” he said.
The platform ingests all the campaign data wherever it is created, and then brings in the attribution data. The two data sets are matched to determine the conversions and the relevant amount spent.