What Happens When You Combine Cuebiq Data With VideoAmp?
Excerpts from article originally published by MediaPost’s Joe Mandese on Oct 23, 2023. EssilorLuxottica’s Caroline Proto took the stage at MediaPost’s TV & Video Insider Summit to discuss the work her and the company have done using VideoAmp data and solutions paired with Cubeiq’s data.
Joe Mandese writes:
I’m the first to admit that I’ve been one of the biggest critics of the accelerated shift to alternative TV currencies, but that’s because I was mainly looking at the downsides: the erosion of a common denominator, a lack of industry standards, marketplace obfuscation and confusion, and much more vendor grading of their own homework. Today I saw a wonderful upside that I’d like to share with you.
It took place during MediaPost’s TV & Video Insider Summit here and it was presented by Caroline Proto, director of global media at eyeglasses marketing giant Luxottica, who gave us a behind-the-scenes look at how putting two different sources of data together can create something much bigger than a four.
The sources were location-data platform Cuebiq and TV and CTV audience measurement platform VideoAmp, which Proto’s team began working with two years ago to develop a real-time system for tracking and analyzing the “cost-per-store-visit” yield buys on various TV networks and CTV platforms delivered.
“We got them in a room and we said, ‘We need you guys to play nice in the sandbox,” Proto told the summit attendees, adding: “We need to find a solution for you to take your foot traffic data from Cuebiq and ingest it into the VideoAmp dashboard and layer it with your TV data,’ so we could start seeing what was the actual effect on our TV investments into our actual foot traffic in stores.”
While she didn’t divulge specific results, Proto said the data helped inform plans and buys based on the ability of specific networks to yield foot traffic, as well as what the optimum frequency of spots should be before they plateaued.
She said Luxottica’s team is still working with Cuebiq and VideoAmp to test and refine the data, but that a test with an unnamed but “very efficient cost-per-store-visit” network shows some very promising results.
“We did see our foot traffic increase,” she said, adding “It was a rather large number” increase from 2022 to 2023 — and that moving forward, Luxottica plans to allocate its TV/CTV advertising investments using the data in future buys during 2024 and upcoming upfronts.