Nielsen said it launched Compass, a global database of campaign outcomes that will allow brands to compare the performance of their marketing efforts against historic benchmarks.
Elements tracked in the Nielsen Compass database include pricing, promotions and media platforms, providing a common measurement language for buyers, sellers and agencies.
Nielsen said about 25,000 campaigns, with their return on investment, in 100 categories and 50 countries go into the Compass database.
“There has never been a more dynamic and challenging time to be a marketer. Each year, billions of advertising dollars go to waste as marketers rely on incomplete data when making decisions on their cross-media strategies especially when attempting to scale across countries and brands,” said Matt Krepsik, marketing effectiveness, product leader, Nielsen. “Our mission is to deliver outcome measurement around the world so marketers can maximize their ROI, move with velocity and be budget friendly. We launched Nielsen Compass as an answer to an industry calling for better outcome reporting measurement.”
Nielsen said that brands that leveraged Nielsen Compass have been able to optimize and increase their effectiveness of their cross-media investments incrementally by up to 70% more than brands that have solely relied on market perceptions and gut feelings for their media allocation.
With Nielsen Compass, advertisers and agencies are able to collaboratively make data driven budgeting and planning decisions with greater coverage of the portfolio, the company said. And by working closely with media buyers, publishers now have scaled insights to prove the value of their platform over another and better monetize their ad inventory.
This dataset offers flexible delivery methods based on client needs, including an interactive user-interface, dynamic reports with advanced calculations via file delivery, as well as feeding directly into Nielsen’s media planning suite.
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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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