NEEDHAM, MA and NEW YORK, NY--(Marketwire - Oct 15, 2012) - Cross channel marketing intelligence software provider Visual IQ and online-to-offline marketing solution provider Korrelate today announced the availability of IQ Envoy for Automotive, an integration of Visual IQ's IQ Envoy attribution management product with Korrelate's O2O™ dual-blind attribution platform. IQ Envoy for Automotive combines the power of the world's most rigorous and accurate attribution marketing science to calculate the value of each marketing touchpoint experienced by each prospect across the entire marketing ecosystem with offline vehicle purchase data that quantifies the propensity for someone exposed to any of those touchpoints to buy a certain make and model of vehicle.
Using motor vehicle registration data from R.L. Polk, IQ Envoy for Automotive enables marketers to focus digital marketing spend on the tactics that had the greatest success in contributing to offline vehicle purchases, including specific makes and models, without compromising user privacy. The software incorporates advanced marketing touchpoint analysis that enables automotive brands and their agencies to derive cross channel insights and formulate resulting marketing optimization strategies by:
- Collecting and integrating all digital marketing touchpoints experienced by converting and non-converting audiences
- Identifying the propensity of a particular audience to purchase a given make and model by any marketing tactic or mix of tactics (channel, publisher, keyword, creative, size, etc.)
- Utilizing propensity to convert data within the attribution algorithm to create a set of TrueMetrics that assign the appropriate amount of credit each touchpoint earned for any conversion actions that serve as potential purchase proxies, such as visits to vehicle configurators, dealer locators, price calculators, etc.
- Associating the conversion action data with actual purchase data to draw a direct correlation between digital marketing performance and offline purchases
"Marketing in the automotive industry is extremely competitive, so we're working even harder and faster to help our clients stay ahead of the curve," said Manu Mathew, CEO and co-founder of Visual IQ. "IQ Envoy for Automotive demonstrates our deep understanding and commitment to addressing the specific needs expressed by our existing automotive clients, and we're pleased to announce this unique product that will help marketers spend in those tactics that help drive sales of their vehicles, and avoid tactics that drive sales of their competitors' products."
"We're thrilled to partner with Visual IQ to expand the reach of our online-to-offline attribution services and deliver a truly innovative product," said Daniel Jaye, CEO of Korrelate. "IQ Envoy for Automotive will help brands and agencies understand the true value of their marketing efforts to tailor spend so it has the highest impact on producing vehicle purchases."
Both Companies at J.D. Power Automotive Marketing Event
Representatives from both Visual IQ and Korrelate will be attending J.D. Power's 2012 Automotive Marketing Roundtable, October 23-25 in Las Vegas, NV. To set up a meeting time during the event, or discuss IQ Envoy for Automotive at any time, please contact us at email@example.com.
About Visual IQ
Visual IQ produces the world's most powerful cross channel marketing intelligence software products. Its hosted IQ Intelligence Suite reveals cross channel performance insights hidden deep within companies' marketing data and provides actionable recommendations to improve marketing effectiveness. These recommendations enable marketers and agencies to adjust their advertising strategies and tactics to significantly increase marketing ROI across their entire marketing mix -- both online and offline.
The functionality behind these products combines a powerful, user-friendly interface with multi-dimensional fractional attribution management and scenario-planning science that clearly and accurately show marketers where opportunities exist for optimization and improvement. In 2012 Visual IQ was named a leader in both interactive attribution and cross channel attribution by Forrester Research. Visual IQ can be reached at firstname.lastname@example.org or by visiting www.visualiq.com.
Bringing together online and offline data at scale, Korrelate goes beyond clicks and actions by leveraging actual R.L. Polk purchase data to provide actionable insights against online behaviors.
Korrelate's O2O™ (online-to-offline) dual-blind attribution platform provides marketers with a census-based definitive link between digital campaigns and offline purchases without compromising the users' privacy. As an unbiased attribution partner, we do not sell media or data; our goal is to provide actionable insights to all parties engaged in the digital ecosystem to help improve targeting, maximize lift and optimize spend. Korrelate can be reached at email@example.com, or by visiting our website at www.korrelate.com.