Amobee’s expanded offering increases purchase conversion, decreases financial output
REDWOOD CITY, Calif. & CHICAGO–(BUSINESS WIRE)–Amobee, a global leader in advertising technology that unifies audiences to optimize results across TV, digital and social to drive customer growth, today announced an expansion of its partnership with IRI, a fast-growing, global leader in innovative solutions and services for consumer, retail and media companies, to enhance and further optimize Amobee’s Propensity Scoring (APS) product.
This new effort will allow CPG advertisers to increase their chances of engagement by bringing in rich offline purchase data signals as an additional variable into the bidding algorithm, driving performance efficiencies. IRI has the largest and most robust offline tokenized data set within the CPG industry with 500 million all-outlet loyalty cards, which represent 117 million unique households covering 93% of the total United States.
IRI predicts and assigns a value to tokenized households based on their likelihood to convert or purchase a given product. Amobee’s bidder uses these tokenized household-level scores to bid more aggressively on high-value customers and less aggressively on low-value customers.
Tests with an international manufacturer of alcohol beverages demonstrated an increase in conversion rates by almost 30% and a lowered cost per acquisition (CPA) by up to 15%. Further, when used in conjunction with IRI’s in-flight optimization Campaign Conversion Feed (CCF) solution, campaigns resulted in the advertiser successfully attracting more households into purchasing the product versus the control.
“Pairing IRI’s data with APS closes the gap for CPG advertisers so they can better utilize expansive data sets to influence the bid decisioning process and ultimately increase conversion rates,” said Dini Beretz, vice president of Business Development at Amobee. “With this important partnership, CPG brands can now reach targeted audiences and therefore see a greater financial benefit.”
Unlike e-commerce or other advertisers focused on online sales and metrics, CPG manufacturers have traditionally been unable to use sales data directly within the bid decision process. Now, CPG advertisers can directly inject IRI’s rich offline tokenized predictive scoring data as a variable in Amobee’s bid decisioning process, resulting in higher return on ad spend and delivering content to more relevant consumers.
“Working together with Amobee, we are helping CPG brands more accurately reach appropriate consumers. In order to more precisely reach audience segments, it is necessary to rely on purchase data to determine which consumers offer the greatest value,” said Jennifer Pelino, executive vice president of Global Media at IRI. “This, in concert with APS, allows us to scientifically reach consumers based on their propensity for purchase.”
Amobee helps brands, agencies, and media companies unify audiences to optimize advertising results across all linear TV, connected TV, digital and social media to drive customer growth. Amobee is a wholly owned subsidiary of Singtel, one of the largest communications technology companies in the world, which reaches more than 675 million mobile subscribers. The company operates across North America, Europe, Middle East, Asia and Australia. For more information, visit amobee.com or follow @amobee.
IRI is a fast-growing, leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, and financial services and media companies grow their businesses. With the largest repository of purchase, media, social, causal and loyalty data, all integrated into an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth.
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