August 27, 2010
Since its founding in 2006, Columbus-based startup ClearSaleing has offered advertisers a unique and revolutionary way of evaluating their digital advertising campaigns through its first-in-class attribution management solution. Now the company has announced a partnership with Mindset Media, to layer psychographic profiling into its Attribution Ecosystem™.
“Psychographics go beyond demographics to refine broad categories of people into subsets that matter to advertisers – people with the right “wiring” to buy,” explains JB Brokaw, executive director of market development for Mindset Media.
For instance, for years cereal makers have defined their target market in very broad demographic terms – women with children. But what drives some moms to buy pre-sweetened cereals and others to buy only organic cereals? The answer lies in their personality.
Despite their significance, there has never been a way to target psychographics in media advertising until Mindset Media developed the world’s first and only psychographic ad technology platform. With such targeting, advertising buys can become more beneficial and cost-effective delivering not just sales -- but profitability. And that gets to the heart of ClearSaleing's value proposition as an analytics tool – helping advertisers identify the ROI on their digital advertising campaigns.
“With the addition of psychographics, we can actually help advertisers expand their online brand,” says Dustin Engel, vice president of business development for ClearSaleing.
To develop its ad technology platform, Mindset Media for the last four years has, through cookie-enabled technology, identified and typed over 120 million unique Internet users. The company bases its profiling on 21 elements of personality known to drive buyer behavior – elements such as openness, altruism, compliance, bravado, etc. Then a rating of one to five is given within each of these elements to assign a personality profile (or mindset) to each.
As an example, Brokaw describes the attributes of a person who drives a hybrid as being a “creativity 5,openness 5, dogmatism 1 and leadership 5.” In comparison, those who gravitate towards a high performance sports car score much higher in assertiveness and bravado.
“We’re excited about this partnership,” says Engel. “With this partnership, ClearSaleing can help clients make more informed decisions that result in greater profits by giving them access to the strongest drivers of purchase decisions -- personality.”
The two companies are currently in talks with multiple online retailers to become the first users to take advantage of this first-in-class analytics solution.
Release Date: | Aug 27 2010 9:19am |
Source: | TechWeek |
Author: | TechWeek Editor |
Phone: | (614) 487-3700 |
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Email: | Editor@TechColumbus.org |