GrowthLoop has announced a strategic partnership with TransUnion, global information and insights company renowned for its robust identity graph.
This collaboration merges GrowthLoop’s top-notch unified audience layer with TransUnion’s TruAudience Marketing Solutions, offering comprehensive data on over 98% of consumers nationwide. The primary goal of this partnership is to address a common challenge faced by marketers: optimizing advertising spend to achieve better return on investment (ROI).
One of the major pain points in digital advertising is the low audience match rates between a company’s first-party data and third-party platforms like Facebook and Google Ads. Typically, these match rates range between 20-40%, leading to inefficient ad targeting and suboptimal campaign performance.
Anthony Rotio, Chief Data Strategy Officer at GrowthLoop said “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. 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.”
With Google phasing out third-party cookie support in Chrome, these match rates are expected to decline further. Such low match rates not only result in reaching the wrong audience but also contribute to poor user experiences, such as irrelevant ads for recent purchasers.
The consequence of these challenges is evident in marketing teams overspending on misdirected campaigns, ultimately driving down return on ad spend (ROAS) and inflating customer acquisition costs unnecessarily. However, the GrowthLoop and TransUnion partnership aims to address these issues by offering enhanced identity resolution and activation capabilities, thereby expanding addressable reach and maximizing ad spend efficiency.
Douglas Feit, VP of Channel Sales at TransUnion stated “TransUnion is excited to partner with GrowthLoop to deliver a solution that directly addresses the challenge of engaging consumers in the digital landscape. Marketers must manage cookie deprecation and improve addressability with identity-based activation to effectively achieve performance in their customer acquisition and retention.”
Through the collaboration, both new and existing GrowthLoop customers gain access to Enhanced Match Rate functionality within the platform. This feature empowers enterprise customers across various industries, including financial services, healthcare, technology, telecommunications, sports, entertainment, retail, and consumer packaged goods, to enhance audience targeting, boost engagement, and drive better ROI.
The partnership between GrowthLoop and TransUnion represents a significant advancement in addressing the challenges associated with low audience match rates in digital advertising. By leveraging enhanced identity resolution capabilities and comprehensive audience data, marketers can now optimize their ad spend more effectively, leading to improved ROI and reduced customer acquisition costs. This collaboration underscores the importance of innovative solutions in today’s evolving advertising landscape, where targeted and personalized campaigns are crucial for success.
