LAS VEGAS – Is the advertising industry stuck on so-called intermediate metrics when judging the performance of their video campaigns? Oren Harnevo thinks so.
The CEO and Co-Founder of Eyeview believes there’s no substitute for actual outcomes, meaning a person sees a video and then buys something.
“A lot of the video campaigns you see out there are optimizing toward hitting a demo, or targeting a DMA, or making sure the videos are completed, or they’re viewable and a lot of intermediate metrics like recall,” Harnevo says in an interview with Beet.TV at CES 2017.
Eyeview’s VideoIQ platform infuses consumer, brand and retail data into a decisioning engine to programmatically deliver one-to-one personalized video. One of the company’s recent case studies details a $7.83 return for every $1 in ad spend for TriHonda—representing dealers in Connecticut, New Jersey and New York.
“What’s special about focusing on outcome is that it kind of cures a lot of the ills and worries of the industry right now,” says Harnevo.
He cites “crazy, unprecedented” hacking attacks and “almost about $5 million fraud a day with video ads, and that gets advertisers very frightened and it should be.”
He says focusing on sales rises above such concerns because Eyeview is buying real people. “You can’t fraud a sale,” says Harnevo. “You can fraud a completion. You can fraud a viewable demo but you can’t fraud a store sale.”
Eyeview uses data partners that vary by business category, including marketers’ first-party CRM data, Nielsen Catalina and others in consumer packaged-goods, Cardlytics and MasterCard in financial services and, as in the case of TriHonda vehicles, J.D. Power and Associates.
“It’s really closing the loop from the view of a real person all the way to the end to see if they actually bought,” is how Harnevo describes the process.
Screens are becoming less important, according to Harnevo. “We need to make sure that we can find this individual again or find any person again. It doesn’t matter where he’s at,” he adds. “For us it’s television, Facebook, mobile.”
This video was produced as part Beet.TV’s coverage of CES 2017 presented by 605. For more videos from the series, please visit this page.
