Leveling the Broadcast-Digital Playing Field With Attribution: Game-Changing Measurement Tools Quantify Reach and Results of Broadcast Radio Ad Spends
By Paul Cramer Managing Director, Enterprise Radio Solutions at Veritone
If you’ve worked in the radio industry, you know that radio is a fantastic direct-response medium, a fantastic branding medium, and a fantastic medium for reaching consumers out-of-home. Still, agencies, advertisers, and buyers today demand empirical evidence to justify the return on media spend, and that’s one thing radio hasn’t been able to comprehensively offer.
Sophisticated artificial intelligence (AI)-powered attribution tools such as Veritone Attribute allow broadcasters to correlate listener actions to a specific impetus and, in turn, better quantify both the reach of radio and the results that radio drives. By showing how a radio ad converts to website traffic for an advertiser, attribution modeling can quantify the value radio is delivering and provide deeper insights that make radio a much more effective medium for the advertisers investing in it.
Broadcast hasn’t been able to offer the same kind of analytics around the consumer journey as their digital counterparts, and as advertising has become more data-driven, we’ve seen more and more dollars shift from broadcast radio to data-driven mediums that can provide those types of insights.
Attribute is changing all of that. By leveling the playing field between broadcast and exceptionally insightful digital mediums, this technology opens up a whole new host of capabilities for broadcasters, advertisers, agencies, and buyers.
What makes Veritone Attribute unique is that it uses natural language processing and AI-based listening technology to not only detect when a radio ad was played over the air, but it also quantifies attribution from any live mentions or native advertising. This capability allows for identification of a commercial within the familiar stop set, but also the identification of the many native in-program mentions that occur during the news, traffic, weather, and even the morning show, as a radio personality does a live read or testimonial endorsement for a particular product. Attribute can determine when those actual integrations happen in the programming and then show how listeners responded on the advertiser’s website after hearing one of those on-air calls to action.
Because Attribute is also a near-real-time analytic solution, users don’t need to wait until after the radio campaign has ended to upload their post logs to determine what happened. Rather, they get insights while the campaign is on air. With this near-real-time data from Attribute, they are better able to perform campaign optimization using tools such as A-B testing of creative and placement.
While the intelligence behind Attribute is complex, the solution itself is easy to use. The radio station account executive simply invites the advertiser to connect their Google Analytics data, and from there the system can start to track any lift in website activity based on any advertising for that client on the radio station. Data from these interactions are presented in an easy-to-digest format. At that point, the account executive can choose to generate a recap report based on any timeline or any series of data and then share it with the advertiser. The process is straightforward, and it brings meaningful insights to both the person selling radio advertising and the person buying it.
More than television, more than digital, and more than social, radio is the leading reach medium in America; it’s the best way to reach the majority of Americans. Tools like Veritone Attribute introduce measurement capabilities that yield immediate and quantifiable data on just how powerful this ubiquitous medium can be as an advertising tool in today’s diverse media marketplace.
For more information, join this webinar on Dec. 12, 10 a.m. PST. Veritone’s Daniel Wong, product marketing director, will provide a live demonstration of Veritone Attribute.