Visa and Oracle to offer merchants feedback on digital advertising
27 September 2016 | 4303 views | 0
Visa Inc., in partnership with Oracle, today introduced Visa Advertising Solutions, a new suite of products to help merchants understand whether their digital advertising efforts are influencing consumer purchase decisions online and in-stores.
Leveraging digital advertising and cross-device connection data from Oracle Data Cloud with aggregated purchase data from Visa Advertising Solutions, merchants can measure consumer response to advertising campaigns run on mobile, display, video and social channels, and use the insights gained to optimize their efforts.
Visa Advertising Solutions can also recommend targeted customer segments for future ad campaigns and timely offers based on past purchase behavior, which can be supplemented with demographics and consumer interests, among other data, from Oracle Data Cloud. Purchase data shared with advertisers is always aggregated and de-identified.
“Successful marketing efforts depend on rich data to measure the results and effectiveness of each channel,” said Mike Lemberger, senior vice president, loyalty and data solutions, Visa Inc. “Combined, Visa and Oracle have unique and powerful assets to help merchants connect the dots between advertising spend and business results - the holy grail of any marketing program.”
How it Works:
A retailer who wants to promote a seasonal sale selects a target audience based on a mix of demographic and aggregated, past purchase behavior data. In this situation, they choose millennial women as their target audience, and a digital ad is delivered to this group using the Oracle ID graph across multiple channels and devices. Visa Advertising Solutions offers insight into whether or not a Visa credit card purchase was made online or in-store following the merchant's digital ad views. These results help indicate the ad's effectiveness, allowing marketers to adjust the offer, creative and/or channels accordingly.
According to a recent study* from WPP research firm Kantar Millward Brown, lack of effective ROI measurement is a significant impediment to marketers in the digital space, with more than 70 percent of marketers saying they would increase their spending on digital channels if they could better measure the ROI from those channels.
“Visa Advertising Solutions and Oracle Data Cloud are empowering merchants to find their customers online and measure the results of their ad campaigns on actual sales,” said Eric Roza, senior vice president of the Oracle Data Cloud. “Working together, we can combine Visa Advertising Solutions’ unmatched purchase data and merchant relationships with the Oracle Data Cloud’s data assets and expertise in building and measuring purchase-based audiences. This allows everyone from restaurants to retailers to improve the effectiveness of their advertising by establishing a direct link between digital ads and actual sales, whether these occurred online or in traditional brick and mortar locations.”
Several national merchants piloted the Oracle Data Cloud/Visa Advertising Solutions in 2015 by measuring how advertisements placed on Twitter improved online and offline ROI.
Commenting on the successful pilot, Ali Jafari, vice president, partnerships at Twitter, said, “Visa Advertising Solutions helped merchants close the loop between online campaigns and offline sales, so they could measure the impact Twitter advertising campaigns had on offline sales. We’re excited that advertisers have the ability to measure their ROI through Visa Advertising Solutions in a way that can strengthen their bottom lines.”
Visa Advertising Solutions is available to merchants through the Oracle Data Cloud. Visa also plans to work with other strategic digital ad technology partners to offer additional Visa Advertising Solutions in the future. More information about Visa Advertising Solutions is available at www.visa.com/loyalty/advertising.
* SOURCE: Kantar Millward Brown (Millward Brown Digital), Getting Digital Right, August 2016