A collaboration between a pair of companies has given “Voice” to a predictive behaviors tool for marketers designed to help companies better know their audiences and their motivations.
It’s called Voice, and the venture launch in January via Springfield-based CultureWaves, a consumer predictive behavioral analysis company, and New York-based Dstillery, an applied data science company. The tool serves as a meshing of CultureWaves’ data and Dstillery’s observed behavior signals to provide advertisers with a glance into what motivates consumers to act, said Bob Noble, CultureWaves CEO. CultureWaves developed the marketing tool in conjunction with Dstillery.
Voice utilizes a methodology combining both human and artificial intelligence.
“Conventional methods are going out the window fast,” Noble said. “We have created a totally unique, new segmentation tool. It’s needs-based and behavioral-based that informs traditional research and reported data.”
Local companies in finance, publishing, media and utility industries currently utilize the tool, Noble said. They are Central Bank of the Ozarks, Springfield Business Journal, KOLR 10 and Associated Electric Cooperative Inc.
As part of its work with the companies, CultureWaves provided a Springfield-designated market area report compiled from data pulled in May from more than 85,000 devices, such as cellphones and computers, Noble said. The Springfield DMA, which he said is a broadcast term used to help describe an advertiser’s reach, stretched across 30 counties.
Noble stressed protecting the privacy of consumers is a chief concern for CultureWaves when collecting data. In doing so, only data that is transparent, aggregated, anonymous and doesn’t violate personally identifiable information standards is used.
“We do not collect information from social media,” he said.
Traditional segmentation, which includes geographic and demographic variables, involves subjective learning, such as people taking surveys, Noble said. It can take four to eight months and cost hundreds of thousands of dollars, he added.
“You can do this in a quarter of the time for a fraction of the cost,” he said of the DMA project for which data information was compiled over one month.
The cost for the Springfield DMA project was in the $65,000-$75,000 range, said David Nehmer, CultureWaves president.
From data analysis of the Springfield DMA, made up of around 400,000 households, a total of eight personas were created with the audience size broken down by percentage. The top persona, at 20.6 percent, was the Time Consumer, which has news and online gaming as content drivers.
Noble believes Voice can serve as a “laboratory for the future” to help marketers figure out how to keep their brands viable and active.
“It’s going to force brands to be more message relevant and help the consumer who is really busy … better understand what’s being offered at the time,” he said.
Nehmer said CultureWaves is visiting with other companies that might be interested in purchasing the data generated from the DMA report. In addition, he said another DMA project will likely be conducted locally sometime in the winter to allow for comparing and contrasting with the initial Springfield one. Additional markets in and out of Missouri also are being considered at this time, he added.
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