Videology Partners with Korrelate to Bring Sought-after ROI Sales Data to Mobile Advertising
- Solution Allows Auto Advertisers to Evaluate Sales Lift Metrics Across Screens
- New Capability Fills Important Gap as Almost a Third of Auto Consumers Use Mobile to Shop
NEW YORK, Feb. 5, 2013 /PRNewswire/ -- Videology -- a digital advertising platform and solutions provider -- announced today that it has entered an exclusive agreement with Korrelate -- providers of the first census-based, privacy-sensitive link between digital marketing and product purchases -- to extend auto purchase measurement capabilities to mobile devices.
Through this partnership, Videology will be able to connect online in-stream video advertising, as well as mobile in-stream video and display advertising, to specific offline auto purchases. In other words, advertisers will now be able to determine how many users who saw an advertisement -- whether online, or on a mobile device -- actually purchased a vehicle, and if so, the type of vehicle purchased, as well as how different engagement metrics influenced sales.
"When we purchased Collider Media and LucidMedia last year, we stated that our objective was to break down the silos between devices and formats, and measure media ROI holistically," said Scott Ferber, Chairman and CEO, Videology. "The work that we did with Korrelate in developing this cross-screen measurement solution is a tangible example of what our overarching strategy will mean for advertisers." He added, "And in terms of the accountability that this solution now brings to mobile -- it's huge."
The capacity to more accurately track mobile-driven sales activity comes at an important time for auto marketers, with almost one-third of in-market auto shoppers now using a mobile phone as part of their auto shopping experience, according to an October 2012 study by J.D. Power & Associates. The study states that in 2012, "31 percent of in-market vehicle shoppers have visited automotive websites via their smartphone, compared with 24 percent in 2011 and 17 percent in 2010. These same shoppers access third party sites and manufacturer sites at similar rates (69% and 68%, respectively). Additionally, more than one-half (53%) of these in-market shoppers access automotive content while physically at the dealership."
Videology has been working with Korrelate to help auto advertisers connect online in-stream video advertising to offline auto sales using vehicle data from Polk for more than a year, and to-date, the results have shown significant sales lift across a variety of scenarios. Perhaps even more importantly, the depth of insights that can be gleaned from Korrelate data can dramatically inform future campaign planning and media optimization.
For instance, in a recent sales event campaign for a domestic automaker, the overall campaign drove a 10% sales lift across all models among those exposed to the campaign versus those not exposed. However, further analysis showed a 20% sales lift for those exposed to a particular creative execution, and a 110% sales lift among those exposed to video ads on a particular premium content site, and a 120% increase for those exposed to the message 10+ times.
"The level of detail that we can offer auto advertisers as to the type of format, creative, sites and frequency levels that drive the greatest sales lift is invaluable to helping advertisers shape and drive efficiencies of future campaigns," said Dan Jaye, CEO of Korrelate. "The work that we did with Videology to extend these capabilities across mobile devices is the logical next step in the evolution of digital measurement. But more importantly, it fills a growing need from our collective auto marketing clients."
Bringing together online and offline data at scale, Korrelate (korrelate.com) goes beyond clicks and actions to provide actionable insights against online behaviors.
Korrelate's O2O™ (online-to-offline) dual-blind attribution platform provides marketers with a census-based definitive link between digital campaigns and offline purchases without compromising the users' privacy. As an unbiased attribution partner, we do not sell media or data; our goal is to provide actionable insights to all parties engaged in the digital ecosystem to help improve targeting, maximize lift and optimize spend. Korrelate can be reached at firstname.lastname@example.org, or by visiting our website at www.korrelate.com.
Videology (videologygroup.com) is an enterprise media technology for agencies and publishers. Videology provides end-to-end, holistic, cross-device and cross-format solutions to improve ROI for advertisers, agencies and publishers.
Videology, Inc., is a privately-held, venture-backed company, whose investors include NEA, Valhalla Partners and Comcast Ventures. Videology is headquartered in Baltimore, MD, with key offices in New York, Austin, Toronto, London, Paris, Madrid, Singapore, Sydney and sales teams across North America.
For more information, contact Michele Skettino at Michele@videologygroup.com or 917-653-0073.