This article was submitted by Veritone. The original can be found here.
Veritone Attribute has quickly gained traction in the broadcast market since introduced last fall. Broadcast station operators of all sizes are using it to support their customers’ ads and budget-optimization efforts. Not only that, it’s quickly becoming a critical application for their business.
“Veritone Attribute helps radio and television broadcasters connect on-air advertising campaigns to an advertiser’s website activity,” said Michael Kennedy, Director of Product Management, Veritone, “I even talked about it myself here. Attribute correlates ads, including live reads, organic and in-content mentions with website traffic and transforms the data into actionable performance analytics in near real time. Broadcasters can share that data with their advertising customers to inform ad optimization and increase ROI.”
There are many reasons for the rapid adoption and acceptance in the industry, including:
1. Behavior Analytics
Attribute is among the first AI-powered solutions to include not just prerecorded spots in your attribution analytics, but live reads, in-content, and organic mentions as well — a crucial function that’s been missing from most broadcast attribution solutions. No longer are you at a disadvantage compared to your digital counterparts, because Attribute lets you and your clients analyze ad campaigns in a similar way as digital media placements.
2. Centralized Campaign Management
You can measure and manage tracking and efficacy from one self-service, centralized location through a simple and intuitive user interface.
3. Time-Saving AI Automation
Automated analysis, driven by AI and website-traffic data, significantly reduces tedious and often ineffective manual methods of analysis, yielding better results while saving both you and your clients time and money.
4. Near-Real-Time Data
AI makes it possible to deliver attribution and analytics approximately and quickly, so Attribute can determine intraday effectiveness of advertisements to help you harness the campaign’s trajectory.
5. Reports and Dashboards
That intraday data shows up on a dashboard, so your sales reps can monitor attribution analytics and download both top-level summary metrics and details for customer reports. Everybody gets rich insights into factors that influence ad performance, such as time of day, live endorsements versus recorded ads, or various creative executions.
6. Better Analytics That Translate to Greater Investment
Attribute lets you work as a partner in optimizing ad campaigns, so you can form stronger relationships with your clients and be more competitive across the broadcast and digital media marketplace. By demonstrating how well advertising works and provide insights and guidance on how to optimize campaigns, you can drive continual investment from your advertisers while raising their ROI.
7. Custom Attribution Time Span
Unlike conventional methodology, which is to attribute all website visits to a particular campaign within eight minutes of the ad running, Attribute allows you to lengthen or tighten the attribution window for any time span. So, for example, people watching television during the dinner hour will have more time to respond to the ad after dinner. You can also create custom dayparts, setting specific attribution windows for specific parts of the day that align best with the advertisers’ call to action. More here.
8. Period-Over-Period Analysis and Reporting
In a direct response to user feedback, Veritone made it easy for you to select and compare specific date ranges, which in turn makes it possible to illustrate to advertisers any lift associated with a particular campaign. Again, you’ll find more here.
9. Multi-Ad Capability
Now you can analyze advertising campaigns made up of multiple ads, enhancing the value and utility of analysis and reporting.
Marketing Pioneer John Wanamaker perhaps said it best, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Now, a century later, we are able to discover which half — and not only prevent wasted money (and time) but increase revenue.
