by Alison Weiss
A recent report by PricewaterhouseCoopers (“Global Entertainment and Media Outlook 2016–2020”) forecasts that in 2017, advertisers will spend US$74.7 billion on TV advertising. This is a serious chunk of change, yet a 2016 survey by Adweek BrandShare finds approximately two-thirds of marketers and media buyers believe there is too much waste in TV advertising spending. And 80 percent charge that they don’t have the ability to target TV advertising buys as accurately as they would like.
Fortunately, this scenario is changing with Oracle Data Cloud, a data-as-a-service solution that enables advertisers to use data to reach their target TV audiences with digital precision and measure the impact of TV campaigns back to sales. Advertisers can then use Oracle Data Cloud advanced analytics to get insights about their marketing and create smarter TV advertising campaigns that more precisely target customers, leading to increased brand awareness and better return on investment (ROI).
With Oracle Data Cloud, we’re tying together the high impact of TV with the great new things you can do with advertising in the digital era.”
Eric Roza, senior vice president and general manager of Oracle Data Cloud, observes that traditional TV advertising targeted consumers based only on age and gender. As part of an effort to see beyond those limited filters to target consumers based on what they are buying in stores, Oracle Data Cloud uses US$3 trillion in household-level purchase data sourced from more than 1,500 data partners, with new partners added on a regular basis. In addition, marketers and media buyers can add their own customer relationship management (CRM) data. This enhances the efficiency of targeted TV advertising, and it also significantly improves sales performance from campaigns. “We can do a much better job of reaching the right person by leveraging data and advanced analytics,” Roza says.
Percentage of marketers and media buyers surveyed who say they don’t have the ability to target TV advertising buys as accurately as they would like (Source: Adweek BrandShare Survey)
Along with accurately identifying people with the highest likelihood of purchasing what is being advertised, advertisers will also be able to validate and measure whether an ad is actually resulting in incremental sales among the people who viewed it—functionality that has not been available before, particularly for TV advertising. For example, if a TV ad for a minivan is shown to 3 million households, with Oracle Data Cloud it’s possible to learn how many of the households viewing the ad actually went and bought a minivan within a specific time period.
According to Roza, media buyers can use Oracle Data Cloud to conduct postcampaign analysis, determining which tactics, creative, channels, demographics, and programming were most effective for the campaign based on in-store sales, and then adjust the campaign based on that information going forward.
Eventually, the objective will be to gather this intelligence while a TV advertising campaign is running and to make any necessary adjustments during its run.
“With Oracle Data Cloud, we’re tying together the high impact of TV with the great new things you can do with advertising in the digital era,” says Roza.
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