News UK launches data platform to target readers based on emotions
Since GDPR came into force on 25th May 2018, consumer data has been a hot topic. So, when News UK announced that it will collect all its audience data to create a single platform that advertisers can use to target people based on their emotions and opinions, everyone seemed to take notice.
What is the new platform?
Named News IQ UK, this platform will be a sole source of first-party data that will be fed by user details from News UK media properties, including Virgin Radio and The Times. Announced at Cannes Lion, the aim of creating News IQ UK is to improve user engagement with online ads and help advertisers move away from ‘simple click’ metrics to more detailed measurement tools that look at audience attention and their level of awareness.
Rather than just analysing impressions, for example, this platform is a step towards greater insight into audience behaviour, considering the emotions of a user. Digital commercial director at News UK, Ben Walmsley, said News IQ UK will assist advertisers in creating a stronger “psychological connection” with readers. He added: “Traditionally, advertising has been targeted based on the external facts about a person — their location, their financial behaviour, their online activities. News IQ UK takes a completely new approach and recognises that audiences are people, driven not just by who they are and what they do, but by what they think and feel.”
This platform will let advertisers make a bespoke audience, taking into account how they interacted with different content to establish targeted and effective advertising campaigns for UK businesses in the future.
What does this mean for a company?
Chief commercial officer at News UK, Dominic Carter, claimed that the wealth of user-preference details made available by News IQ UK could offer a boost in ad engagement of up to 45% — an enticing benefit for businesses looking to improve their advertising strategies and PPC campaigns.
But, how would this work? Essentially, advertisers could choose very specific audience segments to achieve a greater return on investment. For example, a tech brand targeting readers of a certain publication could select data pertaining to people with a vested interest in gadgetry or who had consumed full videos relating to a new tech product launch.
The world of online advertising is moving fast, and companies who want to continue engaging and attracting new consumers must keep up. Did you know that studies by the London School of Economics discovered that audiences that engaged with content they rated as ‘pleasurable’ before seeing an ad were nearly a third more likely to watch an entire ad video than those who had not consumed pleasurable content? Clearly, metrics that examine the details and specifics of ad engagement can hold the key to far more effective and lucrative campaigns for businesses.
Already, News IQ UK has generated a lot of interest. Considering the new regulations laid out by GDPR and the demand for better, quicker and more targeted data, this platform looks set to be popular for companies looking to create more informed and rewarding ad campaigns.