This initiative will offer select clients access to Veritone Attribute, to help them better understand how their radio media spend is helping to build their brand and business, and how to make their campaigns more effective. Veritone Attribute is focused on demonstrating the return of radio investment in terms of online activity and engagement, and is the first of a series of tools being rolled out by Primedia Broadcasting to effectively measure return on investment (ROI).
The challenge:
Ebiquity’s 2018 Re-Evaluating Media study, conducted in the UK, revealed that advertisers and agencies rate increasing campaign ROI as among the top two most important things that a media channel needs to offer.
However, radio stations have traditionally struggled to correlate media pressure with online results (a process known as attribution) in an ongoing way. This means that not only are there few benchmarks for how radio can impact online traffic and conversion, but there are also virtually no learnings around how radio activity can be optimised to ensure the best online response.
While there is some international evidence around radio’s “online multiplier” effect (Radiocentre), South Africa is particularly lacking in local data in this area – and the country often presents a very different playing field to other international markets.
The solution:
Veritone Attribute allows the correlation of radio commercial and live read delivery to traffic on an advertiser’s online analytics platform, establishing a path to broadcast media attribution for website traffic and actions taken online. This is done in near real-time, elevating response measurement to new levels of precision. The automation takes the time and effort out of attribution and provides ongoing intelligence, meaning campaigns can become increasingly effective over time.
Offered at no charge to Primedia clients with appropriate campaigns, the tool gives insight into the best use of station mix, format, duration, creative, day of week and time of day to drive maximum online response.
The Future:
According to the UK’s Institute of Practitioners in Advertising (IPA) Databank, successful, long-term brand building campaigns need to do three things:
- Reach a wide audience
- Make an emotional connection
- Create brand fame
We already have evidence around radio’s ability to do these three things (IPA, WARC, Radiocentre), but in a media world that finds itself increasingly under pressure in terms of budget, broadcast media platforms need to start proving that they also deliver against the short-term metrics of response as well.
This tool offers advertisers a new understanding of what a customer’s media investment does on radio, and a powerful new way to take control of it.
