New Study Identifies Key Role Identity Resolution Plays in Cross-Media Measurement
October 10 2017 - 8:00AM
Business Wire
2017 State of People-Based Measurement Study
Pinpoints Person-Level Data as Key to Understanding the Omnichannel
Consumer Journey
LiveRamp®, an Acxiom® company (NASDAQ: ACXM) and leading
provider of omnichannel identity resolution, today announced the
availability of the 2017 State of People-Based Measurement Report,
conducted by Wakefield Research. The study, which surveyed 500
marketing and advertising senior professionals across the U.S.,
examines the industry’s current perception and implementation of
“people-based” measurement, defined as the use of anonymized
consumer identity data to better measure the omnichannel impact of
marketing.
Findings highlight that as consumer media consumption continues
to fragment across digital channels, the accuracy of marketing
measurement - ranging from single-channel campaign effectiveness to
more complex forms of cross-channel mix and attribution modeling –
is materially degraded without the ability to recognize consumers
on digital devices.
“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.”
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.
"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."
“These results highlight the potential for companies to leverage
identity resolution to unlock the full potential of their data,”
added Smith, “extending beyond what they have historically done
with person-level targeting to also focus on person-level
measurement. By creating an omnichannel view of their customers and
prospects that can be activated in their platform of choice,
companies can drastically improve consumers’ experience with their
brand.”
Survey Methodologies:
The 2017 State of People-Based Measurement Study was conducted
by Wakefield and involved an online survey of 500 marketing and
advertising professionals, including 100 CMOs and 400 mid- and
upper-level professionals.
For a complete look at the study please download here.
Given the market demand and interest in People-Based
Measurement, RampUp is hosting its first RampUp Virtual Summit on October 12th, dedicated
to this topic. These sessions, presented by leading measurement
experts, will cover the latest trends, technologies, and
methodologies for understanding and optimizing the cross-channel
performance of campaigns at the person level.
About LiveRamp
LiveRamp offers brands and the companies they work with identity
resolution that is integrated throughout the digital ecosystem, and
provides the foundation for omnichannel marketing. IdentityLink
transforms the technology platforms used by our clients into
people-based marketing channels that improve the relevancy of
marketing, and ultimately allow consumers to better connect with
the brands and products they love. LiveRamp is an Acxiom company
(NASDAQ: ACXM), delivering privacy-safe solutions to market and
honoring the best practices of leading associations including the
Digital Advertising Alliance's (DAA) ICON and App Choices programs.
For more information, visit www.LiveRamp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171010005774/en/
For LiveRampEmily Lynn Ashley,
619-234-0345liveramp@havasformula.com
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