New Study Reveals Artificial Intelligence Plays Critical Role in Maximizing TV and Radio Ad Performance
September 15 2020 - 8:00AM
Business Wire
Inaugural report from Veritone supported by
Alteryx gives broadcasters and advertisers insights and strategies
to deliver effective ad campaigns
Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first
operating system for artificial intelligence, aiWARE™, today
announced the findings of a new research study on the effectiveness
of broadcast advertising campaigns, which reveal the critical role
that Artificial Intelligence (AI) plays in optimizing broadcast ad
performance.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20200915005420/en/
Veritone's inaugural Uplift Study reveals
why broadcast advertising attribution with AI matters. (Graphic:
Business Wire)
The inaugural report — Veritone Uplift Study: Attribution
Insights and Strategies to Deliver Effective Broadcast Advertising
Campaigns — is based on a 15-month analysis of more than 250 local
and national campaigns across 100 television and radio stations in
the U.S. and Canada. The study, intended to provide campaign and
creative tips to increase website lift and new customers, found
that live reads, organic mentions and visual integration vastly
improve campaign performance and outperform prerecorded spots by
more than double — but most radio and TV stations aren’t able to
automatically and accurately measure in-content live reads and
organic mentions.
“Whether you’re a broadcaster or an advertiser, the inability to
measure live ad reads and organic brand mentions in near real-time
means you can’t fully maximize the value and effectiveness of a
campaign,” said Ryan Steelberg, president of Veritone. “This is
where AI plays a critical role. By providing broadcasters and
advertisers the capability and data they need to quantify an ad
campaign’s success and measure lift in real-time, AI becomes a game
changer, elevating the value of the dynamic broadcast advertising
business.”
Key findings from the study include:
- The average campaign lift, or measurement of an
advertisement’s impact on website traffic, across the 250 broadcast
advertising campaigns evaluated was 6.6%. When compared with
the average clickthrough rate of leading digital tactics –– like
display ads (0.64%), Facebook ads (0.90%) and email marketing
(2.6%) –– this result shows that broadcast advertising can
outperform digital advertising in driving traffic to advertisers’
websites.
- Shorter spot lengths (those under 10 seconds) were nearly
four times more likely to drive lift than longer 60-second
spots. Shorter ads increase brand recall and ensure that
listeners capture all necessary information in the spot, especially
the web call to action.
- Time matters. Morning and midday spots generated the
most lift during the day, and midweek spots –– especially on
Thursdays –– performed best during the week. Mid-month was the
sweet spot for maximizing lift, as weeks two and three saw higher
lift than the first and last weeks of the month.
- Live reads were two times more effective at driving
responses than prerecorded spots –– particularly in large
markets, where live reads were 12 times more effective than those
in medium markets, and during midday, when live reads were three
times more effective in generating lift than prerecorded
spots.
- COVID-19, which was in full effect in Q2, showed no negative
impact thus far on broadcast advertising performance. In fact,
Veritone’s analysis saw an average campaign lift of 6.5% for both
Q1 and Q2 of 2020.
The report is based on a 15-month analysis of aggregated data
from Veritone Attribute, concluding in June 2020. Veritone
leveraged Alteryx with Veritone’s aiWARE to enable the use of
Intelligent Process Automation (IPA) to build the analytical model
into a simple yet powerful workflow to complete the analysis.
Details on these and other findings are included in the full
report, which can be downloaded here:
https://unlock.veritone.com/uplift_study_white_paper
About Veritone
Veritone (NASDAQ: VERI) is a leading provider of artificial
intelligence (AI) technology and solutions. The company’s
proprietary operating system, aiWARE™, powers a diverse set of AI
applications and intelligent process automation solutions that are
transforming both commercial and government organizations. aiWARE
orchestrates an expanding ecosystem of machine learning models to
transform audio, video, and other data sources into actionable
intelligence. The company’s AI developer tools enable its customers
and partners to easily develop and deploy custom applications that
leverage the power of AI to dramatically improve operational
efficiency and unlock untapped opportunities. Veritone is
headquartered in Costa Mesa, California, and has offices in Denver,
London, New York and San Diego. To learn more, visit
Veritone.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200915005420/en/
Allison Zullo Walker Sands, for Veritone
veritone@walkersands.com 312-241-1474
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