Some exciting news from Quantcast doing the rounds in the past 12 hours.
They have announced an enhancement to their product which allows marketers to precisely buy digital media against the specific audience they want.
The Lookalikes product allows marketers to identify the consumer they are after and then purchase media against this target.
The difference between this and traditional targeting methods is it allows the advertiser to define their audience – not work to publishers pre-populated groups that more often than not don’t correlate with the target you are after.
Basically through insights driven from their measurement data, Quantcast can start to build a profile around a sites users. The Quantcast data is decent … it goes well beyond age and gender and can drill into income, location, education, complimentary sites and more. It is worlds away from the depth (or lack of) one can get for digital properties from a Nielsen or Roy Morgan currently.
Quantcast also plan to extend this across to the PVR/Tivo TV area as well.
This level of addressability is becoming increasingly important.
For this to work Quantcast needs scale – which it doesn’t quite have yet. Although it’s audience measurement system and the depth that provides publishers is changing this and the two products are complimentary. In the US you can solve this problem with 1 or 2 big sites.
For publishers there’s an upside – a big one. Yield.
For an advertiser there’s an upside – a big one. Less wastage. Better targeting and data driven insight led strategy not brushstrokes across 25-54.
Quantcast hopes their upside is a cut of the revenue.
This technology is exciting, but it needs to be complimentary not a replacement. Context is still vital and the best targeting no matter how deep is wasted if the context, or the ‘where’, is off.
Personally it’s exciting. I think it solves a massive problem for publishers – it gives them real insights around their audience. Most publishers don’t really know much about their audience. It sounds crazy but it is true. Or if they do they’re not telling advertisers.
For advertisers and agencies it’s exciting too – it eliminates wastage and ties back targeting to elements that allow for an advantage through differentiation.
Anyway – Quantcast isn’t even in AU yet and you’d doubt whether they would try this market, a market notoriously difficult to enter especially in the measurement space.