Covario, the leader in search and display advertising software and
services for Fortune 500 companies, announced today at their annual
customer conference - INFLECTIONPoint, the release of a new technology
solution – Display Advertising Insight (DAI). DAI is the first SaaS
(Software as a Service) solution designed specifically for large
advertisers, as well as their agencies, allowing them to manage the
financial performance of their online display media spending on a global
basis. DAI, along with Covario’s Paid Search Insight and Organic
Search Insight solutions, leverage advertisers existing systems to get
complete visibility into the performance of all of their online media
spending. The advertiser uses the information to drive optimal online
media performance, and manages the attribution of credit for media
spending to ensure accurate measurement of return on investment.
Advertising management is coming under increased financial scrutiny by
companies as the old days of using “reach and frequency” statistics to
measure media effectiveness are long gone. “As budgets tighten in tough
economic climates, marketing is often the first place the CEO and CFO
look,” says Cindy Commander of Forrester Research. “Why? Because
marketers have traditionally been slow to prove the value of their
marketing investments and to provide data and measurement that supports
their budgets.” The financial performance of each media channel, not
just online media such as search, display, and social media, but also
broadcast and traditional media such as TV, radio and print requires
rigorous analysis on their financial performance. Sometimes a campaign’s
media is spent and used before anyone realizes it missed the mark,
failed to meet expectations, and/or cost too much.
This issue is the impetus for Covario’s expansion of its product
portfolio. Covario has traditionally focused on search analytics;
however, search performance is now viewed within the context of display
advertising spend, broadcast spend, and social media performance. “We
built Display Ad Insight, because it is well understood in advertising
that online display programs have a strong link to search behavior and
online traffic generation,” said Craig Macdonald, CMO for Covario.
“Mastering search data has turned out to be a boon for Covario, since
most organizations use search as the advertising medium by which brand
and media effectiveness are evaluated. Today, Covario is working with
some of the nation’s largest advertisers to help them consolidate the
behavioral data on search and display programs much faster. This is the
first step in building out a full CMO Dashboard that provides visibility
to advertisers across all media types.”
In fact, online display advertising is an $8.3 billion market in the
U.S., according to Forrester Research, and is expected to grow to $16.5
billion by 2015 – a 17% annualized growth rate. There is a tremendous
amount of innovation taking place in display advertising now,
specifically with the advent of ad exchanges, which offer improvements
in behavioral targeting. Covario sees its Fortune 500 clients devoting a
larger share of their overall marketing budget to interactive, which
increases the display and paid search budgets at a rate higher than the
market average. Specifically, spending on paid search is up 12%
year-over-year for Covario clients, based on our Q4’09 Global Search
Spend Analysis.
Covario’s Display Ad Insight is the only truly global dashboard for
tracking the performance and spend of this key advertising medium, and
does so comprehensively with global paid and organic search programs.
DAI provides the CMO and digital advertisers with complete visibility
into performance of digital advertising.
Covario is deploying Display Ad Insight technology with three major
advertisers.
About Covario, Inc.
Covario, Inc. is the leader in SEM and SEO software and services for the
Fortune 500. The Covario portfolio provides global organizations with
robust interactive and search marketing analytics solutions for paid
search advertising, organic search engine optimization (SEO), and
display advertising. Covario enables complex and distributed
organizations to control brand integrity, ensure budget transparency and
deliver quantifiable results across business units, distribution
channels and languages. Headquartered in San Diego, CA, Covario’s
growing customer list include some of the world’s best known brands in
high tech manufacturing, retail, ecommerce, financial services, consumer
electronics, media, entertainment, publishing and consumer packaged
goods. For more information on Covario call 858.397.1500 or visit http://www.covario.com.
For Covario, Inc.
Josh Wozman, +1-415-591-4091
Josh.Wozman@bm.com