ABC and CBS were among a handful of companies represented at a meeting Friday for a presentation regarding a new measurement format that ties advertisement to actual product sales.
More than 40 ad sales executives from programmers including A&E Networks, AMC Networks, CW, ESPN, Viacom, Fox, Discovery, Turner, NBCUniversal and Hallmark met to discuss project “Thor,” a new product from Data Plus Math that maps out attribution and outcomes.
“We’ve been clamoring for a great industry-level provider on attribution for an obvious reason. We fully believe that when the TV ad platform’s effect on sales outcomes can be widely known, we’ll have the sophisticated data advertisers want in order to double-down on the TV ad platform,” said Sean Cunningham, chief executive of the Video Advertising Board, in a statement. “The next step in our attribution quest is accelerating both terrific forensic data and predictive data capabilities, pressing for the solution with the features that advertisers most need.”
According to Variety, the presentation was “well received” and though the initiative is still in the development stage, testing could begin by the end of the year.
RELATED: ComScore launching new product to measure ad impact on actual store visits
The project is similar to a new measurement product announced earlier this month by ad metrics firm ComScore in partnership with PlaceIQ. PlaceIQ’s PVR measures lift in retail visits resulting from TV, mobile and desktop advertising. ComScore will match its ad exposure data to location data from PlaceIQ to measure the overall and individual impact of campaign components such as TV networks, digital publishers, dayparts and placements, according to a release.
“Auto dealerships, restaurants, travel providers and retailers all have the challenge of connecting the dots between ad exposures and in-store foot traffic,” said Steve Ahlberg, senior vice president of advertising products at ComScore, in the statement. “Today’s launch gives marketers access to the neutral, third-party data they need to make those connections, and to ultimately optimize their marketing mix. ComScore is excited to partner with PlaceIQ, a premier provider of advanced location data and analytics, to launch this product, which is available to our clients today.”