Written by Jerred Ziegler.
Television advertising is expensive. From a spot on local TV to a 30-second prime time ad, companies spend a lot of money on commercials. For the marketers responsible for developing and placing these ads, it’s important they’re getting the most value possible in the form of customer action. This includes searches for the brand online, driving online transactions or inbound customer inquiries by phone. Startup company Clarivoy in Columbus, Ohio, is working to help marketers optimize what they spend on television advertising by developing ad-specific customer action goals, and measuring the success.
“TV advertisers and the networks themselves supply data, but it really only shows marketers that their ad ran,” said Steve White, CEO of Clarivoy. “We take our data a step further by helping our customers target their best audience and convert their ad into customer action.”
Clarivoy can attribute customer action directly to a TV spot or other media touchpoints, including results in a specific time frame after the ad aired, or particular locations where the ads are running on local TV stations. This allows marketers to take credit for the increased activity.
“We essentially close the gap that exists between television advertising and digital, offline measurement,” said White. “We are able to attribute activities that happen offline right back to the television ad that stimulated that activity.”
Clarivoy works with its clients from the start of the ad creation process to develop key performance indicators (KPIs) for each ad. KPIs are the actions a company wants people to take, from calling a number to using a hashtag on Twitter. Once established, the Clarivoy system measures the outcomes of the ads in terms of how they perform against the KPIs.
“Our system closes the loop for advertisers,” said White. “For instance, if a client is running their ad on three different shows, but only two are delivering KPI results, they know to stop the ad that isn’t working and spend that money elsewhere.”
Founded in 2009, Clarivoy worked with Rev1 Ventures, the central Ohio partner of Ohio Third Frontier, to secure its Series A round of funding. Rev1 also gave Clarivoy access to specialists in accounting and human resources, and provided local business advisers through their First Connect network.
Since 2013, Clarivoy has doubled their employee headcount and office space. In 2014, they also doubled their revenue and are poised to continue this momentum through 2015. For White, Columbus will continue to be home for Clarivoy.
“The support from Rev1 has made the decision to stay here easy,” said White. “Since there are so many talented individuals here in Columbus, finding the right people for our team will never be an issue.”