TSB is launching a major data-driven TV ad campaign in which it will overlay its first-party data on to the 24 million users of Channels 4’s All4 on-demand platform, for a strategy that will be able to show the customers who eventually go on to buy one of the bank’s advertised products or services.
The partnership, brokered by the7stars, will see the bank use 4Sales’ data matching product, Brandm4tch, and technology platforms InfoSum and Mediarithmics to deliver its ‘Life Made More’ campaign throughout March.
TSB head of performance marketing Morgan Reavey said: “At TSB we are continually striving to improve data-driven marketing and the broader customer experience.
“It’s about using the very best in digital and data to better connect with our customers and non-customers. This partnership demonstrates that commitment, by delivering the right proposition and the right service at the right time and we are excited to see the results.”
Late last year, TSB become the first UK bank to implement Adobe Experience Platform, with Adobe Campaign, which it is claimed gives it the ability to collect, analyse and act on its customer data in a matter of minutes.
Adobe Experience Platform enables TSB to bring all of its customer data together in one central location, providing the bank with a single view of its customers and laying the foundation for its employees to better serve them “in the moment”, whether they bank online, on their mobile, over the phone or in-branch.
With 7.5 million personal and business customer profiles accessible in a central TSB platform, it is hoped that the the technology bank will allow the bank to act on the full breadth of customer data within minutes, compared with the days this could take using the its previous systems.
Meanwhile, evidence has been mounting that the addressable TV advertising market will witness exponential growth in the next few years.
According to the Rethink TV report, Addressable Advertising Forecast to 2025, the data-driven TV advertising market is set to leap sixfold from $15.6bn (£12.2bn) in total worldwide revenue in 2019 to $85.5bn (£66.6bn) by 2025 as platforms mature and the data-driven medium is better understood by the ad industry.
A separate study by Sky Media claimed that addressable TV cuts channel switching by half (48%); boosts ad engagement by more than a third (35%); and can increase purchase intent by as much as 20% for new to TV advertisers and by 7% overall.
However, this boom coincides with a decline in traditional pay TV viewing in some of the leading markets in the world. In terms of impressions, addressable accounted for just 2.4% of total TV advertising in 2019, rising to 8.5% by 2025. But because addressable ads cost more, their revenue contribution is greater, reaching 32.8% or virtually one third of the market’s value by 2025.
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