Columbus, OH, May 3, 2017– Clarivoy, the automotive industry’s leading provider of Multi-Touch Attribution, today announced it has added a series of “Linear Time Decay” models to the dashboard for its proprietary TV Analytics solution.
Named the winner of the 2016 DrivingSales Innovation Cup Award for the Most Innovative Dealership Solution of 2016, Clarivoy’s proprietary TV Analytics solution stringently maps online traffic to TV ads, matching advertising spot data with website visitors and granting advertisers a transparent snapshot of which TV ads truly influence sales. With the new integration, after a spot runs, credit is assigned for the inbound web traffic following the spot for a certain amount of time, termed a ‘response window.’
While other models weight all the attributed responses within the window equally — whether the response is seconds after the TV spot ran, or seconds before the window ends — Clarivoy’s Linear Time Decay model assigns diminishing importance to the web responses as they get further and further in time from when the TV spot aired. It follows a straight line from full credit, up to one minute after the start of the window, to zero credit at the end of the window.
“We believe this model is closer to what actually happens when experiencing a TV spot, said Clarivoy CEO Steve White. “A convincing TV spot may motivate a potential buyer to take immediate action to start researching their next big purchase. However, attention spans are short and there are many ‘shiny objects’ along the way so the consumer can easily get distracted from their original purchase journey. We factor this into our analysis of the impact that spot had on their purchase decision and this helps us more accurately assess the value of any recently run TV campaigns,” White added.
Using TV Analytics, dealers were able to make data-driven decisions for their media buys that helped decrease their cost per website visitor as much as 2X. TV Analytics also provided the visibility one auto dealer group needed to intelligently broaden their cable reach, maximize the investment they make in TV, reallocate more spend (16%) to cable and reduce their cost per attributed website visitor by 62 percent.
Agencies also greatly benefit from this solution. In fact, by combining TV Analytics data with cost information, one agency shifted their investment in underperforming spots to local insertion and upgraded other national inventory to higher converting and more socially active networks. As a result they achieved a 40 percent lift in their schedule’s performance.
Clarivoy’s intuitive TV Analytics dashboard lets dealers quickly visualize the impact of their advertising:
- Identifies which networks, programs, creatives and dayparts convert potential consumers into buyers.
- Optimizes cost per response by identifying the most efficient website traffic drivers.
- Powered by a proprietary graph model, the solution extracts “important influences” from hundreds of spots and months of data, assigning true proportional credit.
Commenting on future developments, White stated, “We are now looking at non-linear models for TV Attribution, which might further approximate the real response curve. We are also planning more sophisticated models for Multi-Touch Attribution than the symmetrical parabolic model we currently offer. When it comes to understanding the results of their advertising, dealers can’t afford to guess anymore. Clarivoy plans to continue to lead the industry by providing the most accurate and insightful views possible.”
For more information, or to sign up for a product demonstration, visit: http://www.clarivoy.com
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Clarivoy is the auto industry’s leading provider of Multi-Touch Sales Attribution. Their solutions reveal more about their clients’ customers, their advertising and their path to success so they can drive more sales. The company’s proprietary TV Analytics solution was named the winner of the 2016 DrivingSales Innovation Cup Award for the Most Innovative Dealership Solution of 2016. Clarivoy’s proprietary technology grants marketers incomparable visibility into their customers and campaigns – across all channels, all devices – online and offline. Armed with this new information, marketers can stop guessing and start knowing what is working and what is not. http://www.clarivoy.com
Author: Digital Dealer
Digital Dealer exists to help dealers and their managers sell more vehicles more profitably by creating the best live events and media in the industry.