Visa Inc. has teamed up with Oracle to debut “Visa Advertising Solutions,” a new suite of products designed to help merchants understand whether their digital advertising efforts are influencing consumer purchase decisions online and in-stores.
“Leveraging digital advertising and cross-device connection data from Oracle Data Cloud with aggregated purchase data from Visa Advertising Solutions, merchants can measure consumer response to advertising campaigns run on mobile, display, video and social channels, and use the insights gained to optimize their efforts,” a release shared with MMW reads.
Interestingly, Visa Advertising Solutions can also recommend targeted customer segments for future ad campaigns and timely offers based on past purchase behavior. Purchase data shared with advertisers is always aggregated and de-identified.
“Successful marketing efforts depend on rich data to measure the results and effectiveness of each channel,” said Mike Lemberger, the senior vice president for loyalty and data solutions at Visa Inc. “Combined, Visa and Oracle have unique and powerful assets to help merchants connect the dots between advertising spend and business results – the holy grail of any marketing program.”
That measurement could be the missing link merchants need. In fact, a recent study from WPP research firm Kantar Millward Brown cited lack of effective ROI measurement as a significant impediment to marketers in the digital space. The study revealed that more than 70 percent of marketers say they would increase their spending on digital channels if they could better measure the ROI from those channels.
“Visa Advertising Solutions and Oracle Data Cloud are empowering merchants to find their customers online and measure the results of their ad campaigns on actual sales,” said Eric Roza, senior vice president of the Oracle Data Cloud. “Working together, we can combine Visa Advertising Solutions’ unmatched purchase data and merchant relationships with the Oracle Data Cloud’s data assets and expertise in building and measuring purchase-based audiences. This allows everyone from restaurants to retailers to improve their advertising by establishing a direct link between digital ads and actual sales.”