New partnership squashes notoriously low audience
match rates for paid advertising, resulting in better return on ad
spend
NEW
YORK, April 17, 2024 /PRNewswire/ -- GrowthLoop,
the leading composable customer data platform (CDP) provider, today
announced a new partnership with TransUnion, a global information
and insights company known for its robust identity graph. This
partnership pairs GrowthLoop's best-in-class unified audience layer
with TransUnion's TruAudience® Marketing Solutions, which provides
high-quality data on more than 98 percent of consumers across the
country. Together, they help solve a significant pain point for
marketers: overspending on ad campaigns that often fail to reach
their target audience.
The disparities between a company's first-party data collected
from its owned channels and the data from third-party advertising
platforms like Facebook and Google Ads have led to match rates
hovering at a mere 20-40%. This number will only continue to
decline as Google phases out third-party cookie support in Chrome.
Low match rates mean digital advertising campaigns reach the wrong
audience, or worse, create a poor user experience for individuals
who should be excluded from campaigns, such as recent
purchasers.
Marketing teams burn budgets on incorrectly targeted campaigns,
which drives poor return on ad spend (ROAS) and unnecessarily high
customer acquisition costs. By partnering with TransUnion,
GrowthLoop is helping marketing teams tackle this challenge head
on, providing the enhanced identity resolution and activation
capabilities needed to boost addressable reach and maximize return
on ad spend.
"Low match rates are detrimental to advertising campaigns. False
positive matches, driven by 'fuzzy match' algorithms, can be even
worse. Marketers have struggled with this challenge for far too
long, but we don't have to accept this as the status quo," said
Anthony Rotio, Chief Data Strategy
Officer of GrowthLoop. "Precisely targeted advertising is crucial
for marketers, especially in the wake of ongoing third-party cookie
deprecation. Our partnership with TransUnion can help marketers
spend their advertising dollars wisely, reaching the right
customers without disrupting audiences who might benefit from a
different campaign in the future."
Through this partnership with TransUnion, new and existing
GrowthLoop customers will have the option to toggle on Enhanced
Match Rate within the platform. This enables greater reach and
better engagement for GrowthLoop's enterprise customers in
industries including financial services, healthcare, technology,
telecommunications, sports, entertainment, retail, consumer
packaged goods, and more.
"When testing the new solution, we were able to more than double
match rates between audiences and paid media partners in many
cases,'' added Rotio.
Key Benefits of GrowthLoop's Enhanced Match Rate
- Reach more of your audience - Marketers can engage
a higher percentage of their key audience on paid channels,
ensuring maximum exposure, reducing the risk of losing market share
to competitors, and optimizing return on ad spend.
- Better suppression - Marketers can feel confident
that they are excluding their current customers, as well as those
who have already completed the goal conversion of the
campaign.
- Optimize ABM strategies - Important account-based
marketing (ABM) initiatives succeed in reaching the right targets
with the right messages.
- Provide a seamless cross-channel experience - Customers
receive consistent and accurate messaging across channels,
enhancing brand loyalty and overall satisfaction.
- Reach more of your desired customers on paid channels -
Marketers can expand their reach and attract new customers by
overcoming the limitations of low match rates and eliminating the
need for third-party cookies.
- Learn more from campaigns - Larger audience sizes
provide more meaningful data, so marketers can derive valuable
insights for optimizing future paid campaigns.
- Reach business goals - With more effective paid
advertising campaigns, marketers can confidently work toward and
achieve their revenue goals.
"TransUnion is excited to partner with GrowthLoop to deliver a
solution that directly addresses the challenge of engaging
consumers in the digital landscape," said Douglas Feit, VP of Channel Sales at TransUnion.
"Marketers must manage cookie deprecation and improve
addressability with identity-based activation to effectively
achieve performance in their customer acquisition and
retention."
The GrowthLoop Enhanced Match Rate solution will be available in
the first half of 2024. To learn more, please contact sales or
request a demo at https://www.growthloop.com/contact-us.
About GrowthLoop
GrowthLoop provides the leading
composable customer data platform (CDP) for marketers to build
audience segments, orchestrate cross-channel journeys, and assess
campaign results through the data cloud. It offers centralized
control over data and intelligence, freeing teams from vendor
lock-in and fostering an environment of channel innovation. For
more information, please visit www.GrowthLoop.com.
About TransUnion (NYSE: TRU)
TransUnion is a
global information and insights company with over 13,000 associates
operating in more than 30 countries. We make trust possible by
ensuring each person is reliably represented in the marketplace. We
do this with a Tru™ picture of each person: an
actionable view of consumers, stewarded with care. Through our
acquisitions and technology investments we have developed
innovative solutions that extend beyond our strong foundation in
core credit into areas such as marketing,
fraud, risk and advanced analytics. As a result,
consumers and businesses can transact with confidence and achieve
great things. We call this Information for Good® — and it leads to
economic opportunity, great experiences and personal empowerment
for millions of people around the world.
https://www.transunion.com/business
Media Contact
press@growthloop.com
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SOURCE GrowthLoop