New Product Offering Leverages Real-World Relationships to Influence Consumers, Strengthen Brand Messaging and Drive Purchase Consideration
NEW YORK – AdTheorent, Inc., a machine learning platform for advertising, announced its newest product offering for advertisers: AdTheorent Relationship Targeting. This targeting approach taps the power of human relationships to influence core consumer behavior and drive desired actions, delivering superior results for advertisers.
@AdTheorent launches Relationship Targeting which leverages real-world connections to influence consumers’ purchase decisions
Brand recommendations from family, co-habitants and friends are overwhelmingly influential throughout the consumer journey. Twenty to fifty percent of all purchasing decisions are influenced by word of mouth* and brands see a 200% lift in sales through marketing-induced consumer-to-consumer word of mouth. Additionally, a brand recommendation from a trusted friend is 50 times more likely to trigger a purchase. AdTheorent’s Relationship Targeting enables advertisers to harness the power of relationships — specifically, family, cohabitants or friends of the core customer/target — to influence the target consumer’s behavior toward the advertiser’s desired action or KPI. Initial campaign results indicate a strong positive correlation between the number of influencers reached and the response rate from the target audience.
How It Works
A core audience is defined through a variety of avenues depending on the advertiser, such as CRM data, location data, site pixel data, or purchase data. After the core audience is defined, AdTheorent’s Relationship Targeting algorithms leverage user device location patterns to identify groups of real-world consumer relationships. Additionally, AdTheorent’s Cross-Environment Map, which consists of more than 740MM unique device ID’s mapped to over 92MM US households, enables AdTheorent to identify core audience connections of family members, co-habitants and friends. AdTheorent’s Relationship Graph maps these connections and consists of 1.3 trillion graphed connections, an average of 14 connections per person.
A Real-life Success Story: Tapping the Power of Relationships for a Large Automotive Client
A large automotive client sought to build purchase consideration among in-market shoppers for a newly-launched vehicle. The brand partnered with AdTheorent to use advanced machine learning targeting tactics to drive in-market shopping actions on the brand website.
An in-market auto shopper will receive auto advertisements from many auto brands based on their browsing behavior. While this is a viable tactic for advertisers, AdTheorent’s machine learning models have learned that brand recommendations from family, co-habitants and friends are extremely influential. As a compliment to reaching the in-market auto shopper, reaching real-world connections (friends, family, cohabitants) of the core consumer, can influence the core consumer’s purchase decisions. AdTheorent’s Relationship Targeting leverages human relationships to influence core consumer behavior and drive results for advertisers.
AdTheorent closely partnered with the automotive client and leveraged online and offline auto purchase-intent data and geo signals to find in-market automotive shoppers. Once the core audience was identified, the automotive brand then activated AdTheorent’s Relationship Graph. With in-market auto shoppers being targeted with advertisements from a dozen automotive manufacturers every day, AdTheorent instead mapped real-world human connections to target the friends and family of in-market shoppers with additional consideration messaging, with the goal of influencing the core audience through influential relationships.
Campaign performance exceeded all previous benchmarks with regards to ad engagement, conversion rate, purchase consideration and dealer visitation. Relationship Targeting demonstrated that with a larger influence from friends and family, engagement rate performance improved and more users advanced within the purchase funnel. Conversion rates for in-market individuals who had 6+ connections who were also served advertisements outperformed the conversion rates for in-market shoppers with only one connection who had been served an ad by over 33%. Furthermore, AdTheorent proved that by utilizing this new technology, advertisers now have the ability to influence real-world word-of-mouth conversations in a very meaningful way.
“AdTheorent’s Cross-Environment Map is uniquely able to map devices to physical location, which allows us to identify and reach family members and co-habitants,” stated Matthew Groner, SVP of Product Management and Business Intelligence at AdTheorent. “AdTheorent’s Relationship Targeting is an exciting opportunity for advertisers to leverage group influence through real-world relationships to further drive results for their brand.”
AdTheorent is a machine learning-powered predictive advertising company, utilizing machine learning and advanced analytics to connect advertisers with their optimal audiences, at scale. AdTheorent’s Data Science team leverages an award-winning machine learning platform connected to a Cross-Environment Map consisting of 740MM devices across 92MM US households. AdTheorent’s platform combines millions of data attributes into custom models to drive campaign results, far outperforming industry standards, to predict and identify users most likely to engage with an advertiser’s message. AdTheorent’s Studio A\T creative organization helps advertisers develop the most effective creative assets, content and technology solutions to engage with audiences. For more information, please visit adtheorent.com.
*Source: McKinsey & Company, “A New Way to Measure Word of Mouth Marketing,” April, 2010