Clients to get new predictive consumer insights
4 November, 2015: In the past, advertisers could only identify and track marketing strategies against their own targets and not the market. Also, these metrics didn’t take into account the real size of spend and were hard to customise.
Today Nielsen, a global performance management company and Veda, a leading provider of data and analytics in Australia and New Zealand, announce a unique solution to resolve this challenge.
This new alliance provides a step-change for advertisers. For the first time, marketers are be able to understand and segment Australian households based on validated actual financial characteristics, overlaid with consumer behaviours and attitudes alongside actual media consumption.
This relationship utilises Veda’s rich demographic, behavioural and lifestyle profiles drawn from 16 million Australian consumers. The information has been specifically developed for business to consumer marketing and analytics. It comprises over 40 descriptive and predictive attributes, such as propensity to be in the market for home loans, credit cards or personal loans.
This financial information has been combined with existing consumer attitudes and real media currency data - providing big benefits for advertisers. The combined data sets are integrated straightaway - meaning it’s fast and actionable.
Advertisers are able to plan and act with speed; identify what motivates consumers and how they interact with different brands and media. It shows which websites target consumers are visiting, the television programs they are watching and what they are reading or listening to. Early studies have also shown that the solution has immense predictive capabilities - a holy grail for sales and marketing executives.
In parallel to planning, advertisers can develop and activate segmentation; connecting with customers and prospects through Veda’s extensive consumer data assets. This allows them to better reach consumers through digital and direct marketing channels, aligning with internal CRM capabilities.
Monique Perry, head of Nielsen’s Media Industry Group, said, “In this new digital age, advertisers are demanding more specific targeting and going down to a postcode level isn’t good enough anymore. Advertisers want to know what media the household consumes and what message to present. This relationship is a crucial advancement in building profitable consumer relationships.”
“In addition, this alliance aids our clients’ strategies by integrating insights derived from their customer data. Meaning they are able to communicate specifically to the right segment, with the right message on the most effective media.”
“For example, if an auto company wants to reach Australians that have a low-risk loan capacity and no defaults, Nielsen and Veda together allow a marketer to segment those people and then identify what media they consume - using actual data from Veda’s finance currency information alongside media currency information within Nielsen Consumer & Media View,” explained Perry.
“Brands and marketers need more predictable, high quality outcomes from media investment and we believe this solution provides better predictability and measurability than any other solution. Veda brings hard financial and household data and Nielsen’s Consumer & Media View solution provides the colour and definition to provide an image of consumers - what makes them tick, what they like and loathe, and how to reach them. When you integrate this with a brand’s customer data, the solution is incredibly powerful.”
Lionel Lopez, Chief Data Officer at Veda, says: “The combined data mapping that the partnership between Nielsen and Veda creates will unleash new discoveries to improve customer experience.
“In the short term the relationship will enhance campaign management selection and create more rounded client segmentation. The next wave will offer enhanced measurement of ROI and personalised channel performance through Veda’s marketing services. Finally, Nielsen and Veda will provide a data source that can be used in collaboration with our customers and partners to deliver innovative solutions,” concluded Lopez.
Veda (ASX:VED) is a data analytics company and the leading provider of credit information and analysis in Australia and New Zealand. From its core credit bureau business established in 1967, Veda has expanded to deliver a suite of credit and other analytical products targeted to consumers and specific industry segments.
Veda is built on the largest, most comprehensive and current data source in Australia and New Zealand with information on around 20 million credit active people and 5.7 million commercial entities. The breadth and depth of our data, and the knowledge it delivers help customers take a proactive and informed approach in making decisions.
Veda’s customers use data intelligence provided by Veda to make decisions on credit risk, verify identity and employee background, reduce identity theft and fraud, and undertake digital marketing strategies. www.veda.com.au
Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers Watch and Buy. Nielsen's Watch segment provides media and advertising clients with Total Audience measurement services across all devices where content — video, audio and text — is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry's only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen provides its clients with both world-class measurement as well as analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries that cover more than 90 percent of the world's population. For more information, visit www.nielsen.com.
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