GrowthLoop and TransUnion Unite to Optimize Advertising Spend by Boosting Audience Reach

Rhea-AI Summary

GrowthLoop and TransUnion have joined forces to enhance advertising spend optimization by improving audience reach. The partnership aims to address low audience match rates in paid advertising, resulting in better return on ad spend. By combining GrowthLoop's audience layer with TransUnion's TruAudience® Marketing Solutions, marketers can now reach a higher percentage of their target audience, suppress current customers, optimize ABM strategies, provide a seamless cross-channel experience, and achieve business goals more effectively.

Positive

• The partnership between GrowthLoop and TransUnion aims to improve audience reach and optimize advertising spend.
• Marketers can engage a higher percentage of their key audience on paid channels, reducing the risk of losing market share to competitors.
• The Enhanced Match Rate solution provided by GrowthLoop enables better suppression of current customers and those who have already completed the goal conversion of the campaign.
• Marketers can expand their reach and attract new customers by overcoming the limitations of low match rates and eliminating the need for third-party cookies.
• The partnership helps marketers achieve their revenue goals by running more effective paid advertising campaigns.
• The solution will be available in the first half of 2024.

Negative

• None.

New partnership squashes notoriously low audience match rates for paid advertising, resulting in better return on ad spend

NEW YORK, April 17, 2024 /PRNewswire/ -- GrowthLoop, the leading composable customer data platform (CDP) provider, today announced a new partnership with TransUnion, a global information and insights company known for its robust identity graph. This partnership pairs GrowthLoop's best-in-class unified audience layer with TransUnion's TruAudience® Marketing Solutions, which provides high-quality data on more than 98 percent of consumers across the country. Together, they help solve a significant pain point for marketers: overspending on ad campaigns that often fail to reach their target audience.

The disparities between a company's first-party data collected from its owned channels and the data from third-party advertising platforms like Facebook and Google Ads have led to match rates hovering at a mere 20-40%. This number will only continue to decline as Google phases out third-party cookie support in Chrome. Low match rates mean digital advertising campaigns reach the wrong audience, or worse, create a poor user experience for individuals who should be excluded from campaigns, such as recent purchasers.

Marketing teams burn budgets on incorrectly targeted campaigns, which drives poor return on ad spend (ROAS) and unnecessarily high customer acquisition costs. By partnering with TransUnion, GrowthLoop is helping marketing teams tackle this challenge head on, providing the enhanced identity resolution and activation capabilities needed to boost addressable reach and maximize return on ad spend. 

"Low match rates are detrimental to advertising campaigns. False positive matches, driven by 'fuzzy match' algorithms, can be even worse. Marketers have struggled with this challenge for far too long, but we don't have to accept this as the status quo," said Anthony Rotio, Chief Data Strategy Officer of GrowthLoop. "Precisely targeted advertising is crucial for marketers, especially in the wake of ongoing third-party cookie deprecation. Our partnership with TransUnion can help marketers spend their advertising dollars wisely, reaching the right customers without disrupting audiences who might benefit from a different campaign in the future."

Through this partnership with TransUnion, new and existing GrowthLoop customers will have the option to toggle on Enhanced Match Rate within the platform. This enables greater reach and better engagement for GrowthLoop's enterprise customers in industries including financial services, healthcare, technology, telecommunications, sports, entertainment, retail, consumer packaged goods, and more.

"When testing the new solution, we were able to more than double match rates between audiences and paid media partners in many cases,'' added Rotio.

Key Benefits of GrowthLoop's Enhanced Match Rate

• Reach more of your audience - Marketers can engage a higher percentage of their key audience on paid channels, ensuring maximum exposure, reducing the risk of losing market share to competitors, and optimizing return on ad spend.
• Better suppression - Marketers can feel confident that they are excluding their current customers, as well as those who have already completed the goal conversion of the campaign.
• Optimize ABM strategies - Important account-based marketing (ABM) initiatives succeed in reaching the right targets with the right messages.
• Provide a seamless cross-channel experience - Customers receive consistent and accurate messaging across channels, enhancing brand loyalty and overall satisfaction.
• Reach more of your desired customers on paid channels - Marketers can expand their reach and attract new customers by overcoming the limitations of low match rates and eliminating the need for third-party cookies.
• Learn more from campaigns - Larger audience sizes provide more meaningful data, so marketers can derive valuable insights for optimizing future paid campaigns.
• Reach business goals - With more effective paid advertising campaigns, marketers can confidently work toward and achieve their revenue goals.

"TransUnion is excited to partner with GrowthLoop to deliver a solution that directly addresses the challenge of engaging consumers in the digital landscape," said Douglas Feit, VP of Channel Sales at TransUnion. "Marketers must manage cookie deprecation and improve addressability with identity-based activation to effectively achieve performance in their customer acquisition and retention."

The GrowthLoop Enhanced Match Rate solution will be available in the first half of 2024. To learn more, please contact sales or request a demo at https://www.growthloop.com/contact-us. 

About GrowthLoop
GrowthLoop provides the leading composable customer data platform (CDP) for marketers to build audience segments, orchestrate cross-channel journeys, and assess campaign results through the data cloud. It offers centralized control over data and intelligence, freeing teams from vendor lock-in and fostering an environment of channel innovation. For more information, please visit www.GrowthLoop.com.

About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. https://www.transunion.com/business

Media Contact
press@growthloop.com

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SOURCE GrowthLoop

FAQ

What is the partnership between GrowthLoop and TransUnion about?

The partnership aims to enhance advertising spend optimization by improving audience reach.

What are the key benefits of GrowthLoop's Enhanced Match Rate solution?

The key benefits include reaching more of the target audience, better suppression of current customers, optimizing ABM strategies, providing a seamless cross-channel experience, expanding reach to attract new customers, learning more from campaigns, and achieving business goals effectively.

When will the GrowthLoop Enhanced Match Rate solution be available?

The solution will be available in the first half of 2024.

How does the partnership help marketers tackle the challenge of low match rates in paid advertising?

By combining GrowthLoop's audience layer with TransUnion's TruAudience® Marketing Solutions, marketers can reach a higher percentage of their target audience, suppress current customers, optimize ABM strategies, provide a seamless cross-channel experience, and achieve business goals more effectively.

Who is the Chief Data Strategy Officer of GrowthLoop?

Anthony Rotio is the Chief Data Strategy Officer of GrowthLoop.