Marketing attribution provider LeadsRx is aligning its advertising attribution platform with Triton Digital's Omny Studio podcast platform and Tap Advertising Server. As a result, LeadsRx says it will now be able to provide attribution studies for podcasts hosted on the Omny Studio platform, as well as for ads served by Triton's Advertising Platform.
Triton Senior VP Daryl Battaglia says the LeadsRx attribution will help with understanding how podcast advertising contributes to outcomes alongside other channels that marketers use for ad campaigns. “It’s important to bring the other media types into the mix,” he said. “That’s why I’m a fan of the LeadsRx approach. It does take a multimedia approach and captures many of those touchpoints with the listener and takes them all into account,” Battaglia said on LeadsRx’s Attribution Marketing Podcast.
LeadsRx has been ramping up its podcast capabilities during the past few years as marketer interest in the medium has grown. Last June it began to offer advertisers real-time podcast advertising data alongside other advertising mediums. LeadsRx says the capability means advertisers will more easily evaluate their return on podcast advertising and make mid-campaign changes that will help reduce wasted ad spend.
Because LeadsRx receives information about podcast advertising the moment an ad is played or when the podcast is downloaded, the system in turn provides real-time feedback on campaign performance. This allows marketers to adjust, such as changing advertising messaging, during the campaign period to reduce the chance advertising budgets are exhausted on poorly performing ads.
LeadsRx Director of Marketing Lucas Sommer said it puts podcasting on even footing with radio, television, Facebook, and Google. “The value of the podcast advertisement that got the brand name into the consumer’s head or reminded them of the product or service existed, is not getting credit because the digital tool – the Google analytics – isn’t aware that the podcast happened,” he said on the company’s podcast.
How does it work? LeadsRx says it can connect the dots between a podcast ad and an in-store or online visit that ends up as a purchase through a five-step process. First, it receives information from the podcast server that anonymously identifies the individual when the podcast is downloaded or streamed. Then, depending on how and where the podcast is consumed, identifiers may include an IP address, timestamp, episode ID, and an advertising ID from the individual’s mobile device. LeadsRx stores that information and later compares it against similar identity data it receives from people who visit physical businesses. By matching the data, LeadsRx can attribute the in-person visit back to the podcast advertising campaign that helped drive them there. Finally, those optimization insights are made available in real time allowing for in-flight marketing changes to podcast advertising campaigns. Those outcomes, or “conversions,” often result in revenue for an advertiser and are therefore highly valued as Key Performance Indicators by marketers.
“The growth has been tremendous, but it feels like the big wave hasn’t even come yet, both in terms of content creation and in terms of advertisers,” said Sommers.
While return on investment is a growing focus, Battaglia said the growth of advertising to date has been less focused on attribution. “Any brand or their ad agency just wants to be where consumers are, where they’re watching or listening,” he said. “And podcasts have clearly taken off.”
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