Scott C Konopasek, CEO and Founder
The digital media marketing space is booming like never before, courtesy of COVID that pushed businesses to rapidly increase their digital ad spend. Accompanying it is the increased need to identify the most profitable digital advertising channels. As budgets shrink owing to the pandemic-induced economic slowdown, small and midsized businesses find it increasingly unaffordable to access costly analytical tools like multi-touch attribution and media mix models. Coupled with tightening privacy rules in the digital sphere, accurate gathering and reporting of ad performance and sales conversion data has become a tricky task.
In such a scenario, making robust analytics affordable to brands is Mint Measure, a leading provider of advanced ad measurement solutions. Armed with a goal to make actionable analytics easy, the company serves as the go-to marketing and analytics platform for brands and advertisers of all sizes. “Our methodology helps brands to identify where to allocate their ad spends to drive the maximum revenue,” says Scott C Konopasek, CEO and founder of Mint Measure.
Leveraging first-party data and proprietary data processing methodology, Mint creates clear, actionable, easy-to-understand insights for businesses, thus enabling seamless optimization of their digital ad spends. Catering mostly to brands in the direct-to-consumer (DTC) segment, Mint’s state-of-the-art deterministic analysis helps drive their incremental value and sales. It determines the ROI on ad spends from various digital channels by providing visibility into the ad placement and user response data.
Mint’s use of deterministic analysis of first-party consumer response data to discover the most effective media mix is what sets it apart from other players. As consumer privacy continues to change, and 3rd party cookies are sunsetting, Mint’s foundation of 1st party data make it a platform of the future. Where other analytics platforms lean into modeling, Mint prioritizes 1st party data and consumer actions.
Our methodology helps brands to identify where to allocate their ad spends to drive the maximum revenue
Instead of relying on probabilistic marketing models and algorithms, deterministic analysis helps Mint deliver better insights into ad performance and sales conversions and enables weekly ad reports creation. This helps brands and advertisers improve their marketing budget allocation for the most profitable media channels or their combinations.
Mint also tracks the user journey, which maps the entire customer sales cycle, making brands aware of the product selling duration and the number of impressions taken over that time period to close the sale. Proprietary metrics are another of Mint’s offerings that helps advertisers to quantify the costs of the incremental sales on their ad buys, allowing visibility into their revenue-per-dollar ROI. Aiding these solutions is Peppermint, Mint’s full, indepth marketing analytics solution, and Spearmint, Mint’s lighter DTC solution that comes with minimal programmatic spend analysis.
To help brands gauge the status of their advertisement campaigns, Mint designs custom measurement plans based on their marketing spend and performance reports. Once the plan is ready, Mint sets up its technology and starts the ad spend evaluation process – all within half an hour. The evaluation process is repeated every couple of weeks to check the impact of the changes on the campaign. This makes way for more optimizations in the ad delivery strategy and helps brands modify and improve their ad campaigns in-flight.
For instance, BJ’s Wholesale Club, a warehouse club chain, took Mint’s help to analyze their ad delivery investment in connected TV (CTV). Mint measured their ad campaign’s effectiveness across all media channels and discovered a seven-fold increase in prospective converted sales when the CTV channel was paired with other digital media channels. Based on these insights, Mint recommended a series of optimizations to improve ad delivery and scale consumer responses for their CTV ads, resulting in a 28 percent lift in sales performance.
With such promising results, Mint will be expanding its web analytics and incorporating inventory analysis in its offerings. “We’re developing a way to understand the quality and placement of served ads by approaching the ad delivery optimization problem from both the inventory and the user sides,” Konopasek states. With such interesting applications of high-end deterministic analytics, Mint Measure will continue to enhance brands’ advertisement strategies, helping them stay a step ahead in the market.