An Algorithm For Success
Since 2007, Net Conversion has prioritized performance that makes a difference for our partners. One of our secret sauces is our custom metrics invented years ago to ensure that your media dollars are truly impacting your website traffic and additional business KPIs. World, meet ViV and eViV. Our brand efforts for all partners track ViV (View Influenced Visits) and eViV (Engaged View Influenced Visits) allowing us to better understand the impact our media has on website traffic.
Previously we’ve introduced these metrics for your brand efforts, but today we are exploring the opportunities of using these metrics to create custom algorithm bidding in your video strategy using Google’s Marketing Platform Display and Video 360 (DV360) product to leverage your high-value customers and elevate your optimization tactics in your campaigns. So how can this affect your strategy – let us take a step further into the bidding world…
Within the DV360 platform, bid optimization options include maximize conversion, maximize clicks, maximize viable impressions, maximize completed in-view and audible, etc. However, we believe that the KPI chosen for optimization should have a balance both of quality and reach. Currently DV360 options only gives you the option of one of those two. Therefore to create such balance, our team implemented custom bidding using an API connection with our data-aggregation tool Conversionomics. Such data allows for closer alignment between potential customers reaching your website and how likely they are to purchase/convert on your product.
Our team is currently working on testing this for one of our entertainment partners in DV360. Instead of testing solely ViV and eViV, our team decided to take it one step further and test ViV and View Influenced Cart Add (an engaged visit leading to an add to cart). Below are our YTD DV360 influenced KPIs and Relationship to Purchases.
- ViV (View Influenced Visit): ViV gives a relatively good mixture of Quality and Reach with a solid correlation to purchases and ~2.6M conversions from DV360 placements throughout the year.
- View Influenced Cart Add: Cart additions have a much stronger relationship with ticket purchases and a volume of 10x, but still heavily sacrificing reach compared to ViV.
Once our team finalizes this test, we’ll be back with a full case study on how a custom algorithm can align your KPIs and business goals more effectively. For now, check out what other custom features Conversionomics can do for you, and how you can connect it with DV360’s API.
Alexia George, Marketing Manager