A campaign for DriveTime, the used car shopping site, submitted by iSpot.tv won the 2022 Advanced Advertising Award for Best Use of Data.
The campaign improved Drivetime’s return on advertising spending (ROAS) by 26%.
The Advanced Advertising Innovation Awards will be presented on September 12 in New York at the Advanced Advertising Summit.
Winners for the Advanced Advertising Innovation Awards for Best Use of Branded Content, Best Definition of Target Market, Best Use of Multiple Platforms and Best Campaign will be named over the next few days and presented at the Advanced Advertising Summit.
DriveTime was looking to boost its return on advertising spended and needed deep insights into incremental results at the network level in order to find the optimal frequency before diminishing return.
DriveTime used Integrated User Level Data from iSpot to connect linear TV ad exposure to conversion events at the individual device level, while tallying the number of impressions per device. It found that the first linear TV ad impression had the highest incremental response rate at 60%, with the response rate diminishing as frequency increases. The brand also calculated the decreasing response rate by network to determine an optimal frequency for each network.
DriveTime boosted ROAS 26% compared to the prior year by combining a 15% decrease in spend, a 6% increase in media cost and a 5% increase in media-driven site traffic. DriveTime also had a 90% increase in leads. Ultimately, the combination of incremental conversion impressions and reach analysis allowed DriveTime to fine tune their strategy and optimize media spending.
"The partnership with iSpot became our foundation for attribution and measurement, and allowed us to get to the next level,” said Patrick Littler, VP of retail strategy & analytics at DriveTime. ■
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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