Shazam launches “Engagement Rate” metric
June 19, 2013
Shazam, the media engagement company, has launched the “Shazam Engagement Rate”, a new TV advertising metric that enables brands to more accurately gauge the effectiveness of television advertising campaigns.
Exclusively available to Shazam for TV advertisers, Shazam combines third-party industry data on the number of people viewing a particular ad with the number of people who engaged with that same ad through Shazam. Combining the two data points reveals which ads are resonating more or less with viewers – with insights available by show, type of show, channel, day of week, day-part mix and other key television planning dimensions.
In a speech given at Cannes Lions, Shazam CEO Rich Riley unveiled the new metric and service.
“Shazam is already enhancing how millions of consumers around the world engage with TV advertising,” said Riley. “Now, we are able to help brand marketers measure the impact of their ad campaigns using powerful data-driven insights never before available, making it possible for companies to optimize their ad spend. At the core of this innovative service, Shazam is unveiling a new television advertising engagement metric, the Shazam Engagement Rate, showing brands when and where their ad is – or is not – resonating with their target audience, providing an invaluable and exclusive service to our clients.”
The Shazam Engagement Rate is defined as Shazam tag volume for each spot that airs divided by the gross rating point (GRP) for each of those airings. Shazam licenses this GRP viewership information from Nielsen, the global provider of information and insights into what consumers watch and buy, specifically for Shazam for TV performance reporting and generating insights. Shazam takes the industry-standard Nielsen viewership data and uses it to provide perspective and context to Shazam’s consumer engagement data.
“By showing brands where they are seeing actual engagement – not just viewers, but people who are leaning in and asking for more information – Shazam is able to provide an entirely new service to advertisers: measurement and accountability on how effectively an ad campaign connects with the target audience,” continued Riley. “This is a win-win proposition for consumers and advertisers. “Consumers have a one-tap, immediate way to get more information, receive special offers, and even shop on the spot with their mobile device. And, Shazaming a TV ad is also a great way to save it for later, essentially bookmarking it. Advertisers benefit from the direct consumer engagement, and as of today, gain access to insights on the relative performance of their ads airing across television.”
The new service will be initially available to Shazam for TV advertisers in the US.