605, an advanced data and analytics company focused on the media and entertainment industries, has launched The 605 Impact Index, a new, scientifically-based approach for measuring the impact of TV advertising on both branding and sales, also known as the ‘top and bottom of the marketing funnel.’ Building on its pioneering TV analytics work with blue-chip clients like Walmart and Uber, 605 says it developed the Impact Index as a more complete measure of the business impact of TV advertising which will deliver clients actionable insights to optimise both brand marketing and sales outcomes from their TV advertising investments.
“It’s no secret that the legacy TV measurement system has not kept pace with modern day marketing demands,” said Ben Tatta, Co-Founder and President of 605. “Although recent developments in the field of TV attribution are a move in the right direction, most of these solutions focus on sales attribution only. These ‘bottom-funnel’ methods fail to capture the enormous impact TV delivers in terms of brand awareness, perception and favourability. After years of conducting full-funnel attribution, 605 developed the Impact Index as a turn-key solution for measuring the total impact of TV advertising in a scientific, yet easy-to-implement way.”
Unlike attribution models derived from sample data, the Impact Index leverages one of the industry’s largest matchable TV datasets combined with custom, first-party research, to benchmark qualitative brand metrics such as brand awareness and favourability. The result is a new, expansive set of metrics designed to measure TV attribution, from the top to the bottom of the marketing funnel.
Commenting on 605’s approach to data, research and insights, Aaron Bernstein, Senior Director of Insights and Advocacy at Walmart said, “Over the past few years, 605 and Walmart Corporate Affairs have worked together to identify the relationship between television, brand reputation and consumer purchasing behaviour, which has yielded tremendous results.”
“While we all still call it TV, what those two letters mean for data-savvy advertisers has greatly evolved in just the past few quarters,” said Sean Cunningham, President and CEO of the Video Advertising Bureau (VAB). “What hasn’t changed is consumers spending the vast majority of their viewing time with premium TV video content. TV continues to deliver real impact against all audiences in scale, just as more advanced TV data insights for advertisers are rapidly rising.”