SilverPush enables monitoring of consumer behaviour and RoI on TVCs
Measuring the impact of a marketing campaign, and how television commercials(TVC) influence consumers, can be very challenging as brands have limited access to a lot of cross-media consumer behavior data.
This is where firms like San Francisco and Gurgaon-based SilverPush help big brands by providing cross-device mapping solutions to understand user behaviour by mapping data points generated by multiple devices into a unique mapping ID. Hitesh Chawla, co-founder and CEO of SilverPush, says,
We are the go-to platform for brands to understand if their TVCs made waves on social media and other platforms or not. Our clients don’t wait until the next sales cycle to know if their campaign worked, they know it when they want to know it.
Chawla adds,
The company bridges the gap between online and offline advertising techniques and gauges what the customer wants and has to say. We are the new face of ad impact and technology.
Early days of SilverPush
The idea for the product developed over time, but the fundamental gap was that big brands today do not have access to a lot of cross-media consumer behavior data. In terms of funding, Hitesh says,
As far as the initial struggle was concerned, the founders (including me) put in their own money.
It was only when SilverPush was selected as a part of 500 Startups in the US that interest from the investors started to flow in. The startup raised USD 1.25million (Rs.8.2 crore) in pre-series A round from Japan-based fund, M&S Partners and existing investors IDG Ventures and 500 Startups.
How does it improve RoI on TVCs?
RoI is measured based on the number of social and search conversations happening during the TVC’s time stamp. Traditionally, advertisers do media planning on metrics like reach and target audience;however, SilverPush allows them to measure online traffic (including tweets, installs and website traffic), industry competitors’ TV strategy, comparison across TV and digital, etc.
SilverPush tracks all TVC data through fingerprinting and measuring the impact on digital media. It provides a concise reporting platform for competitive data across the TV and digital platforms. Moreover, it synchronizes your TV and mobile advertisements to run at the same time.
The company has 150 clients in India across the FMCG, classifieds and e-commerce domains. Its clientele includes conglomerates like Google and Nestle. SilverPush plans to expand internationally and buy TVC slots in one click through its platform (Build programmatic TV for India).
Market opportunity and competition
According to some industry estimates,the Indian TVC industry is worth Rs 500 billion and slated to cross Rs 900 billion by 2019. Globally, the TVC industry is pegged at$175 billion and expected to hit $2,000 billion by 2019.
The company has no direct competitors in India, although there are other players in the television reporting industry including TAM, BARC etc. They monitor TVCs covering reach and target audience measurement, but that is a separate playing field. Globally, SilverPush competes with ispot.tv (which recently raised $11 million) andwywy in terms of TV analytics reporting.