Nielsen and Veda have announced a new solution to help advertisers track marketing strategies against the market as well as their own targets.
While previously advertisers could only identify and crosscheck strategies and metrics against their own performances, the new alliance between the global performance management company and provider of data and analytics provides a step-change for advertisers.
Marketers will now be able to look at Australian households based on actual financial characteristics, paired with consumer behaviours and attitudes of media consumption.
The relationship takes Veda’s demographic, behavioural and lifestyle profiles of 16 million Aussie consumers, specifically developed for business to consumer marketing and analytics.
“Veda brings hard financial and household data and Nielsen’s Consumer & Media View solution provides the colour and definition to provide a vivid image of consumers; knowing what makes them tick, what they like and loathe, and how to reach them. When you integrate this with a brand’s customer data, the solution is incredibly powerful,” head of Nielsen’s Media Industry Group Monique Perry said.
Advertisers can now identify what motivates consumers and how they interact with different brands and media, as well as find out which websites the target consumers are visiting, TV shows they’re watching, and what they’re reading and listening to.
Early studies are already showing the immense predictive capabilities the solution has, making it a “holy grail” for sales and marketing.
“In this new digital age, advertisers are demanding more specific targeting and going down to a postcode level isn’t good enough anymore,” Perry added.
“Advertisers want to know what media the household consumes and what message to present. This relationship is a crucial advancement in building profitable consumer relationships.”
“In addition, this alliance aids our clients’ strategies by integrating insights derived from their customer data. Meaning they are able to communicate specifically to the right segment, with the right message on the most effective media.
“For example, if an auto company wants to reach Australians that have a low-risk loan capacity and no defaults, Nielsen and Veda together allow a marketer to segment those people and then identify what media they consume.”
Veda’s chief data officer Lionel Lopez said the combined data mapping the partnership allows will “unleash new discoveries to improve customer experience”.