July 18, 2019 / by Anna Vahromejeva
Industry heavyweights join Lynda Clarizio and Rick Erwin in a drive for data transparency.
LoopMe’s new Data Advisory Board is gaining momentum with new members Iain Jacob, formerly CEO EMEA at Publicis Media and Eric Eichmann, former CEO Criteo.
LoopMe recently received $17m funding to fuel US expansion of its award-winning AI powered advertising solutions. It has established the Data Advisory Board to explore how data is being used within the industry, open up debate on best practice and unpick how brands can best measure the effectiveness of third-party data segments, which often come with a high price tag.
Jacob comments “Many brands are still struggling to access and implement the first-party data they hold, due to siloed ways of operating and legacy technology. This makes brands extremely reliant on third party data, but the age, effectiveness or scalability of this data can be tough to assess, particularly as users switch devices. Reliable solutions that show real brand impact and that are implementable today, are what the market needs’
“We continue to see a trend towards media buying transparency and campaign measurement, on metrics such as viewability” adds Eichmann. “For performance campaigns, attribution has significantly improved thanks to better data quality and campaign metrics. For brand campaigns, where outcomes are harder to measure, attribution is still in early stages. LoopMe is at the forefront of measuring and optimizing measurable online and offline brand outcomes such as changes in intent, store visits or in-store purchases.”
While data driven advertising has become the gold standard for marketers worldwide, there is currently no framework to measure the effectiveness of data from different providers or assessing value for money.
LoopMe CEO Stephen Upstone commented “using data to optimize and measure advertising effectiveness is vital, but as yet there is very little transparency into which data drives campaign results, with some platforms still not allowing third party measurement. Many measurement platforms also offer their own data targeting solutions and agencies are buying up data providers – but who is marking their homework? It’s important these questions are answered so marketers can ensure they are investing in the best possible solution for their brand”