Resonate, a real-time analytics provider, is expected to Wednesday announce the availability of Resonate Analytics for Agencies, their analytics platform. The company says the platform is unique in that it uses Big Data to identify “why” consumers act instead of just the typical “what” and “who.”
Agencies have had access to this data from Resonate in the past, but today’s announcement means that agencies can now view and use the data themselves.
Bryan Gernert, Resonate’s CEO, told RTM Daily, “The platform is really geared toward media agencies and agencies themselves to better understand the audiences.” He added, “Typically, we work with the agency across delivering media and across the analytics platform. Historically, we’ve given them the insights. What we’ve done with this is allow them to use the data themselves.”
Gernert claimed that agencies have seen a 33% increase in consumer engagement from using the data the platform provides — and that’s 33% over consumers that were already searching for sites organically.
“That highlights the engagement level you can drive by reaching the right people,” Gernert noted.
He said the dashboard can monitor shifts in an audience’s motivation in real-time. But how exactly does the platform answer the “why” a consumer is doing something?
“What we discovered was the only way to understand people at this level was to ask them,” Gernert said. He revealed that Resonate does about 200,000 interviews a year that are roughly 20-25 minutes long each. In total, Gernert estimates that Resonate asks almost 200 million questions to find out what’s important to consumers, why they make decisions, and how they look at the world.
“It’s not simple demographics,” he quipped.
To show that their platform can truly answer the why a consumer takes action, Gernert shared a case study from Monroe Shocks from when they wanted to convince people to change their shocks every 50,000 miles.
“What we looked at, based on product preference and how people view the world, was that people most likely to change their shocks every 50,000 miles were people concerned with family safety, well-being, etc.,” he explained.
Monroe then targeted those types of people via a pre-roll video campaign. The completion rate for those pre-roll videos was 89%, which Gernert claimed is almost 50% better than typical pre-roll completion rates.