Last Friday, [x+1] announced a new partnership with Knowledge Networks' KN Dimestore and a "tool that allows marketers to enhance online ad campaign performance by adjusting offers and media on the fly based on real-time consumer feedback." Read the release.
[x+1] CEO John Nardone discussed the new tool and how it works.
AdExchanger.com: Can you discuss how you integrate the qualitative results of the KN Dimestore survey into the quantitative optimization of x+1's platform? And, what do you tell clients in terms of set-up time?
JN: In real time, we have the ability, at the cookie level, to see consumers response to a short form brand research survey and tie all this data back to [X+1] data environment containing large amounts of 3rd party audience attributes. This is truly revolutionary. For the first time ever we will be able to view our client’s customers in a different light, as different segments and adjust the campaign based on that data. For example, if we use the survey to understand where consumers are in the purchase funnel, we can segment and build different targeting models using [X+1]’s extensive database for folks that are near purchase or further from a purchase. We can understand in real time where a user is in the purchase funnel, re-target them with specific messaging and move them closer to a purchase and eventually get them to buy. Adding the qualitative data to the rest of [x+1]’s capabilities allows us to think of customers in a much different light and actually act upon it. Set up time is not a factor – it won’t take more than a day or so get this started as part of a campaign.
Why would a consumer want to take a KN Dimestore brand survey? Are they incentivized?
JN: People like to share their opinions, plain and simple. We don’t believe in incentivizing consumers as this may skew the results. KN Dimestore makes it easy for people to fill out the survey, leading to substantially higher response rates and more data to work with. Through this partnership, surveys are within the ad placement and do not require a person to leave the page they are on to complete it. Filling out 3-6 questions on a page they are already on is much less disruptive than other offerings, and shouldn’t take more than 30 seconds to a minute of anyone’s time.
Do advertiser clients need to contract with KN Dimestore directly or do they go through x+1? How is this billed to the advertiser?
Advertiser clients do not need to contract separately with KN Dimestore. [x+1] works directly with KN Dimestore on behalf of the advertiser to do everything from the upfront definition of campaign goals and specification to implementation and execution. Advertisers will not get a separate bill for adding a survey into their media buy. When used, the service is included as part of our product offering as a value add.
Will you use KN Dimestore brand survey data to assist with attribution modeling for x+1 clients? If not, how will you measure brand impact?
We see this data as another arrow in our data quiver. Survey results data can be used to segment customers and place them into different parts of the purchase funnel. Typically, attribution is defined as what drove a conversion event, which is usually defined as a sale. KN Dimestore technology allows us to capture additional and new types of conversions. Moving a customer from unaware to aware, from awareness to intent, and from intent to an actual purchase are all now available to us if we use the right kind of questions. This data becomes the fuel for different types of attribution analysis – which ads were better at driving awareness, which drove more purchase intent. Now we can start attributing ad impact to more than just a sale, but to all of the stages that lead up to a sale, and use that data to fine tune the campaign while it is still in market – when it can actually make an impact.
By John Ebbert