The “martech” landscape is growing at a phenomenal rate. In conversation with Manoj Dawane, Founder and CEO, VTION Digital Analytics, we discuss the emerging MarTech landscape, the importance of SaaS-based digital analytics, and the role of real-time consumer behavior intelligence data in driving ROI at the bottom and top of the market. ‘funnel. We also talk about the strategy used by VTION to stay ahead in the MarTech industry, and the major trends dominating the digital analytics industry.
- What do you think will fuel the growth of the SaaS-based digital analytics industry in the future?
In today’s VUCA world, the consumer has unlimited options and prefers experience over product. I think the main driver of digital analytics in our time is the availability of limitless competitive options and the fragmentation of consumer tastes. Hence, it becomes imperative to understand the choices and trends, which can only be achieved through good analytics which, in turn, will reduce the cost of acquiring new customers and increase customer revenue.
The need for a business to get the media plan right and right is becoming more and more critical as digital media becomes the preferred choice for consumers. This in turn requires a good mechanism to assess impact digital interventions.
Thus, the three pillars of numerical analysis can be summarized as follows:
- To planto maximize reach and interaction opportunities – Select the right target segments based on segment behavioral profiling
- Enablethe optimal distribution between publishers – Select the right volume, the right time and the right geographies of delivery with the right DSPs for a given target segment
- MeasureImpact – Continue to verify the impact of exposed audiences and expected outcomes/actions to modify activation parameters and deliver the most effective outcome within the allocated budget amount
- How can companies drive bottom-of-funnel and top-of-funnel ROI using real-time behavioral data?
The parameters that lead to effective ROI conversion must be clearly understood and an appropriate system must be in place to maximize returns. The key to creating an effective framework in this respect is the REAL-TIME DETERMINISTIC BEHAVIORAL DATA.
For example, top-of-funnel e-commerce ads have a direct impact on bottom-of-funnel additions to cart or number of downloads and increased engagement or visits (digital connected to retail). The metric of success can thus be envisaged clearly and a the call to action can be made based on the outcome against the inputs.
- The “martech” landscape is growing at a phenomenal rate. What is your strategy to stay ahead of the game and stay unique and relevant in this space?
- FULLY OPT-IN COMPLIANT PRIVACY COMPLIANT CONSUMER PANEL: VTION focuses on quality delivery to our customers. Our particularity lies in the fact that we provide REAL-TIME DETERMINISTIC BEHAVIORAL DATA, from a fully opt-in panel of 40,000 consumers, compliant with all data privacy laws. This is perhaps the second largest continuous consumer panel in the country and we have had this asset with us for the past 3 years. Our panel, extrapolated, represents nearly 200 million Indian urban consumers.
- INDUSTRY ADOPTION: Our data is used by both advertisers and publishers. We respond to demand and supply endsof the ecosystem.
- PATENTED END-TO-END CAPABILITY THAT WORKS AT SCALE: In addition, with our unique end-to-end capabilityof planning, activation via any DSP and, above all, measuring results to be able to optimize digital programmatic campaigns, we have an advantage.
Our goal is to offer rich returns to our customers and we will work hard to stay one step ahead.
- Please provide a brief overview of VTION and the technology you use to derive inference and consumer behavior data.
- VTION is a digital consumer intelligence company with first-party Android smartphone app usage data from 40,000 panelists in India collected passively with our patented technology
- Our panel is built and maintained to statistically represent nearly 200 million Android smartphone users in 16 states across India, which accounts for approximately 90% of overall digital spending in the country.
- The data collected relates to app usage, OTT content usage, advertisements exposed on social media and OTT and e-commerce usage within the app mapped to various product categories, research to the basket. All of this is collected in Real Time, facilitated by our patented technology
Use cases VTION is aimed at:
Regarding advertising: Is our digital advertising effective?
- Share of voice in social media and YouTube advertising
- Share of voice in e-commerce app advertising
- Competitor Ad Ex (GRP equivalent) and TG mapping
- Digital advertising effectiveness measurement and brand impact surveys
Related to products and promotions (within eCommerce apps): Are we earning a share of InApp business?
- Share of search, advertising and pricing promotions during consumer journeys
- Competitive mapping of product placements
- Deposit Rate / Drop Rate
- Purchase intention
- Basket share
Consumer profiling: how to get more accurate consumer information?
- Media planning: based on other applications used by our core TG
- Alliance planning: correlations/alliance with different brands for cross-promotions
- Please describe the trends that dominated the digital analytics industry throughout 2021-22?
The key trends dominating the digital analytics industry are:
- Consumer data privacy and the consent mechanisms that need to be in place are the two important global trends impacting digital analytics
- Regulators and policymakers issuing various directives that will force the digital world and big tech companies to change their ways are evident from the actions taken by Google and Apple.
- Google drops cookie in next 2 years and Apple makes IDFA go for permission
- Ecosystems of digital IDs that are not based on cookies / IDFA or any other such mechanism are being built. Such identity systems are unlikely to be a one-size-fits-all solution to the problem facing the digital world.
- The advent of statistically extrapolable panel-based mechanisms for understanding consumer behavior is becoming powerful