Bloomberg brings its own data to the party, adding its proprietary metric, the Consumer Comfort Index, to power the attribution tool’s analytics. MarketShare already factors in other elements that affect purchases, such as oil prices, weather and seasonality, so it can better isolate the impact of a brand’s marketing efforts.
While Bloomberg feeds in unique data, it doesn’t require the marketer to share sensitive or proprietary data, like conversion information. For auto sales, MarketShare relies on publicly available data from JD Power to measure marketing impact.
When bringing in a neutral tool like MarketShare, there’s always the chance that it will prove a channel is not as effective as predicted.
“We found nothing scary in the data, which was wonderful,” Lucke said.
And because different clients have different needs – direct response vs. branding being a big one – Lucke expects that there will be a wide variation in successful media mixes, a good thing for all of Bloomberg’s channels.
Bloomberg will start to have conversations with its auto clients in the next few weeks to use MarketShare data to inform Q4 spends. Next year, it will evaluate expanding the program to encompass more advertiser verticals.