Good Digital Analytics can reduce the cost of acquiring new customers and increase the revenue from the customer base

The ‘Martech’ landscape is growing at a phenomenal pace. In conversation with Manoj Dawane, Founder and CEO, VTION Digital Analytics, we discuss the emerging MarTech landscape, importance of SaaS based Digital Analytics and the role of real time consumer behavior intelligence data in driving ROI at the bottom and top funnel. We also talk about the strategy used by VTION to stay ahead in the MarTech industry, and the major trends that have been dominating the digital analytics sector.

1. What do you think will fuel the growth of the SaaS based digital analytics sector in future?

In today’s VUCA world, the consumer has unlimited options and they prefer experience over products. I believe that the key driver for digital analytics in this era is the availability of unlimited competitive options and the fragmentation of consumer tastes. Therefore, it becomes imperative to understand the choices and the trends alike, which can only be derived through good analytics which in turn will reduce the cost of acquiring new customers and increase the revenue from the customer base.

The necessity for a company to get their media plan correct and apt is becoming more and more critical with digital medium becoming the preferred choice of consumers. This in turn requires a good mechanism to assess impact of the digital interventions.

Thus the three pillars of digital analytics can be summarised as:

1. Planfor maximising reach and opportunity to interact – Select the right target segments based on behavioural profiling of segments
2. Activatethe optimum spread between publishers – Select the right volume, time and geographies of delivery with the right DSPs for a given target segment
3. MeasureImpact – Continue checking the impact of exposed audiences and expected outcomes / actions to modify the activation parameters and deliver the most effective result in the allocated amount of budget

2. How can companies drive ROI at the bottom and top funnel using real time behavioral data? 

Parameters that lead to an effective ROI conversion should be clearly understood and a proper system should be put in place for maximising the returns. Key component for making an effective framework in this regard is the REAL TIME DETERMINISTIC BEHAVIOURAL DATA.

For instance, the advertisements in the e-commerce at the top funnel directly impact the bottom funnel additions in cart or the number of downloads and increase in engagement or walk-ins (digital connected to retail). The success metric can thus be envisaged clearly and a call to action can be taken based on the outcome vs inputs.

3. The ‘Martech’ landscape is growing at a phenomenal pace. What is your strategy to remain ahead and stay unique and relevant in this space? 

• PRIVACY COMPLIANT FULLY OPT-IN REPRESENTATIVE CONSUMER PANEL: VTION is focused on quality delivery to our customers. Our uniqueness lies in the fact that we provide REAL TIME DETERMINISTIC BEHAVIOURAL DATA, derived from a fully opt in panel of 40,000 consumers, compliant to all data privacy laws. This is possibly the second largest continuous consumer panel in the country and we have had this asset with us over the last 3 years. Our panel, when extrapolated, represents close to 200 Mn urban Indian consumers.
• ADOPTION BY INDUSTRY: Our data is being used by both advertisers and publishers. We cater to both the demand and supply endsof the ecosystem.
• PATENTED END-TO-END CAPABILITY THAT OPERATES AT SCALE: Further, with our unique end to end capabilityof planning, activating via any DSP and most importantly, measuring outcomes to be able to optimise digital programmatic campaigns, we have an edge.

Our purpose is to deliver rich returns to our customers and we will work hard to keep ahead.

4. Please give a brief about VTION and the technology that you use for deriving the inference and consumer behavior data.  

VTION Background: 

1. VTION is a digital consumer intelligence company with first party Android smartphone applications usage data from 40,000 panelists in India collected passively with our patented technology
2. Our panel is built and maintained to statistically represent nearly 200Mn Android smartphone users in 16 states across India, which account for about 90% of the overall digital spends in the country
3. Data collected is on App Usage, OTT Content Usage, Ads exposed on Social Media & OTT and Ecommerce In App usage mapped to various product categories from searches to Cart. All this is collected in Real Time, facilitated by our patented technology

Use Cases VTION is catering to: 

Advertising Related : Is our Digital Advertising effective ?

• Share of Voice in Social Media Advertising and YouTube
• Share of Voice within the Ecommerce App Advertising
• Competitor Ad Ex (GRP equivalent) and TG mapping
• Efficacy Measurement of Digital Advertising and Brand Lift Surveys

Product & Promotions Related (Within Ecommerce Apps) : Are we winning share of InApp activities?

• Share of Search, Ads and Pricing Promotions during consumer journeys
• Competitor Mapping of product placements
• Drop off rates / Abandonment rates
• Purchase Intent
• Share of Cart

Consumer Profiling: How to derive sharper consumer insights?

•   Media Planning: Based on other Apps used by our core TG
•   Alliances Planning: Correlations/ alliance with various brands for cross promotions

5. Please elaborate the trends that have been dominating the digital analytics sector throughout the year 2021-22?  

Major trends dominating the digital analytics sector are:

1. Privacy of consumer data and consent mechanisms that need to be in place are the two important global trends that impact digital analytics
2. Regulators and policy makers publishing various guidelines that will demand the digital world and big tech companies to change their ways is evident from the action that Google and Apple have taken
3. Google deprecating the cookie in the next 2 years and Apple making IDFA opt in permission driven
4. Ecosystems of digital identifiers which are not based on cookies / IDFA or any such mechanism are being built. It is unlikely that such identity systems will be a single solution to the problem facing the digital world
5. Advent of ‘Panel Based’ statistically extrapolatable mechanisms for consumer behaviour understanding are becoming powerful