New engagement tool allows marketers to better understand consumer behaviour

Nielsen and Veda form a new alliance to help marketers and average leverage consumer data more efficiently

Nielsen and data and analytics provider, Veda, have partnered to provide marketers and advertisers with a way to better identify and track marketing strategies against actual consumer data.

The two companies claimed the new alliance means that for the first time, marketers are able to understand and segment Australian households based on validated actual financial characteristics, overlaid with consumer behaviours and attitudes alongside actual media consumption.

The new relationship utilises Veda’s demographic, behavioural and lifestyle profiles drawn from 16 million Australian consumers. The information has been developed for business to use for consumer marketing and analytics and encompasses more than 40 descriptive and predictive attributes, such as propensity to be in the market for home loans, credit cards or personal loans.

According to Veda and Nielsen, advertisers are able to plan and act more efficiently, identifying 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.

In parallel to planning, the partnership is also designed to help advertisers develop and activate segmentation, connecting with customers and prospects through Veda’s consumer data assets. This allows them to better reach consumers through digital and direct marketing channels, aligning with internal CRM capabilities.

“In this new digital age, advertisers are demanding more specific targeting and going down to a postcode level isn’t good enough anymore," Nielsen’s media industry group head Monique Perry, said. "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.

According to Perry, the new alliance aids Nielsen's 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,” she explained.

"Veda brings hard financial and household data and Nielsen’s Consumer & Media View solution provides the colour and definition to provide a vivid image of consumers - knowing what makes them tick, what they like and loathe, and how to reach them," she added. "When you integrate this with a brand’s customer data, the solution is incredibly powerful.”

Veda's chief data officer, Lionel Lopez, said 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," she added. "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.”

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Searching for social and marketing data

Many marketers, agencies - and everyone in between - get caught up on bubble references and data points. They’ll use Facebook best practice as the only best practice for Facebook executions and only consider metrics and responses of the one channel they’re expected to deliver on.

Isaac Lai

Connections strategy lead, VMLY&R Sydney

Why Australia needs more leaders

A few weeks ago, our Prime Minister, Scott Morrison took it upon himself to tell companies and their CEOs where to go when it came to societal issues. It wasn’t an organisation’s place to get involved. Instead, he said it should be left to governments to solve societies challenges.

Dan Banyard

Managing director, Edentify

3 skills you need to drive better collaboration

A study published in The Harvard Business Review found the time spent in collaborative activities at work has increased by over 50 per cent in the past two decades. Larger projects; complicated problems; tighter timeframes: These require bigger teams with specialised skillsets and diverse backgrounds, often dispersed globally.

Jen Jackson

CEO, Everyday Massive

Informative blog. Xero is a well-known revolutionized accounting software, specifically developed to provide best User Experience and mak...

NavkarConsultancyServices

Xero evolves to fit a changing marketplace

Read more

>Writes article about how to show diversity in an authentic way>All featured opinions are from white women

Jennifer Metcalfe

Food for Thought: How can brands show diversity in an authentic way?

Read more

Excellent post, congratulations !!! - Prof Paulo Coelho | https://www.drpaulocoelho.c...

Prof Paulo Coelho

The B2C and B2B marketing transformation helping Invisalign win more smiles

Read more

Great article - but regarding "For a team to achieve their full potential, Edmonson also advises leaders balance psychological safety wi...

Sim

3 skills you need to drive better collaboration - Business leadership - CMO Australia

Read more

I would invest money in machine learning. I think it's important to do that. Don't you agree?

Polly Valentine

Metcash to use AI for promotional planning optimisation in liquor division

Read more

Latest Podcast

More podcasts

Sign in