GumGum is an artificial intelligence company that helps advertisers unlock the value of the images consumers encounter across digital media, social networks and professional sports broadcasts. With proprietary computer vision technology, GumGum scans images and videos across multiple platforms, allowing advertisers to place contextually relevant ads where users are most likely to see them. They recently worked with Lotame to decrease overall spend on 3rd party data while increasing ROI. Read on for the details!
Prior to working with Lotame, GumGum had relied on large quantities of pre-packaged third-party data to execute its audience targeting. While this customer information was plentiful, the company had little insight into which data would be in any prepackaged audience segment, and no control over how this information was selected. As a result, GumGum was paying high markups for data packages that were filled with information the company never had a chance to vet.
In order to deliver more effective campaigns on behalf of its customers, GumGum was looking for greater transparency, control and flexibility with regard to the data-buying and targeting process.
In order to alleviate these problems, GumGum chose two Lotame solutions: The Lotame Data Exchange and the Data Management Platform.
- DMP for 1st-Party Data Collection: Working with Lotame’s data management platform, GumGum now has the ability to house and use their own 1st-party data. By gathering their own valuable data directly from their network of sites, they are able to rely less on 3rd-party data and use more 1st-party data, based on unique data assets that they have. This means they have instant access to the most valuable data source, and spend less on 3rd-party data.
- Lotame Data Exchange for 3rd-Party Data: For the times when they needed additional scale for their campaigns that 1st-party data couldn’t provide, the Lotame Data Exchange (LDX) offered GumGum instant access 4 billion data points from devices around the world. Through LDX, GumGum could pick and choose the same audience information it had purchased previously, but without the markup that other vendors had charged. As a result, GumGum was able to save money on its data buying right off the bat.
- DMP for Audience Building: Because Lotame’s data was not already prepackaged, GumGum had greater insight into exactly what it was buying, allowing the firm to select the elements that made the most sense for achieving its specific campaign goals. With this flexibility, GumGum built complex, highly customized targeting logic that allowed it to deliver unique, high-performing campaigns for its advertisers.
- 35% increase in return on investment for its 3rd-party data spend.
- Reduced spend on its existing third-party data packages by 25%.
- As an added bonus, GumGum now has increased control and insight into the audience segments it purchases. They’ve seen improved performance across the board but especially in CTR and viewability when using their own 1st-party data vs 3rd-party data
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