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
In this latest episode of our Conversations over a Cuppa with CMO series, we catch up with Jane Power, who stepped into the director of marketing and transformation role at GenesisCare in April 2020.
Understanding the core principles of Behavioural Economics will give players in the travel industry a major competitive advantage when restrictions lift and travellers begin to book again. And there are a few insights in here for the rest of the marketing community, too.
Unicorns, the Sunken City of Atlantis, Zeus: They are very famous. So famous in fact, that we often think twice about whether they are real or not. Sometimes if we talk about something widely enough, and for long enough, even the strangest fiction can seem like fact. But ultimately it is still fiction - stories we make up and tell ourselves over and over until we believe.
At a time of uncertainty and economic hardship, customer retention takes on much greater importance. CX Lavender’s Linda O’Grady examines the big grey area between ‘all’ and ‘best’ customers when deciding who is worth fighting for and how.
Thanks for sharing. You might want to check this website https://lagimcardgame.com/. An up and coming strategic card game wherein the cha...
Pierce Fabreverg
Board games distributor partners with Deliveroo in business strategy pivot
Such an important campaign, dyslexia certainly need more awareness. Amazing to see the work Code Read is doing. On the same note we are a...
Hugo
New campaign aims to build understanding around scope and impact of dyslexia
Great Job on this article! It demonstrates how much creativity, strategy and effort actually goes to produce such unique logo and brandin...
Pierce Fabreverg
Does your brand need a personality review? - Brand vision - CMO Australia
Here’s an article on solving the most complex customer queries without a delay. Hope it helpswww.engati.com/blog/address...
soham
How to manage social media during Covid-19
Thank you for explaining the rules. This article covers the principles of design, which arrange the elements of art into a composition. ...
Pierce Fabreverg
Reports: Brands have an important role to play during the COVID-19 crisis - if they're useful