Understanding Lifetime Value Of Consumers Driven By Specific Ad Creative
Power Digital Chief Strategy Officer Ben Dutter says the company recently introduced a platform designed with support from Meta and its business engineering team. It connects a brand’s ad creative with their own first-party data.
Creative Affinity is one model within the application nova intelligence. It is managed by the company in the nova cloud data platform and connects a client’s ad creative with their first-party data. It also provides a nuanced understanding of the lifetime value of customers driven by specific ad creative.
“When a user is on Meta, we know when the user becomes a customer of the brand and we can tie business-level metrics to the customer,” Dutter says. “Creative was always relegated to just the point of the purchase.”
If a consumer clicks on the ad to make a purchase, marketers can see that the revenue was driven from the ad.
Technology now can identify users over time and track their lifetime value. Advertisers can see the effectiveness of creative targeting against real audience insights that bridge the gap between creative direction and profitable growth.
Rather than rely on top-of-funnel or granular insights to analyze and determine effectiveness, this goes a layer deeper to provide brands with the instant feedback needed to iterate and optimize creative, ultimately driving a higher incremental return on ad spend.
Creative has been long been debated as the new targeting tool, but Dutter says that until now it was not a clear solution that eliminated guesswork around delivery.
The lifetime value of a customer is identified by first-party data, the brand and Meta. There is a system to tag and track the individual.
It took more than a year to build the tool, which is part of a bigger platform, nova intelligence, which the company has been building for about eight years.
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