Parsec is the first advertising platform to offer marketers a way to buy media based on how long consumers choose to spend with ads. Its Cost Per Second (CPS) model relies on Moat measurement to provide advertisers like BMW and Dell a unique opportunity: purchasing guaranteed, opt-in, attention. And its studies with clients have proven the connection between time-spent and brand metrics — the longer someone chooses to spend with an ad, the more likely they are to respond positively to questions about awareness, consideration or purchase intent.
Read on to learn more about Parsec, its relationship with Moat, and the data and results brands can expect when they buy on CPS media.
Parsec and Moat’s Collaboration
The Parsec team had previously built the Sled format, an interactive mobile ad experience that drew stronger engagement. The team theorized that the attention spent on its ads would be a strong proxy for the value brands were extracting from media. The Sled format was in place across hundreds of premium sites, providing a strong network to launch a new media product.
Moat and Parsec share the belief that attention is the raw material used to build brands, and that time-spent is a key indicator of attention. That’s why in 2015, Parsec teamed up with Moat to launch the unique CPS model using their full-screen creative format and Moat measurement. Moat’s technical and account management teams were able to provide Parsec with everything it needed to track how its ads perform and then share that data with its clients.
Here’s how Parsec’s CPS model works:
• Guaranteed Viewability: The counter for time in-view starts only once at least 50% of an ad’s pixels are on screen for one second, as measured by Moat.
• Guaranteed Attention: The timer stops when Moat verifies that someone has dismissed the ad.
• Earned Media: Parsec prices according to how long an ad was in-view up to 15 seconds — there’s no extra charge for interactions lasting longer.
The Power of Data
The value of Parsec and Moat’s integration goes beyond the efficiency of buying using attention metrics. The data generated by Moat and Parsec can be used for:
• Creative testing: Marketers can compare the performance of different creatives to identify features and imagery users find most engaging.
• Audience creation: Users can segment and study audiences using Moat metrics, like time-spent and interactions.
• Message Personalization: A deeper, data-based understanding of advertising performance means clients can reach customers at different levels of interest to drive purchase intent.
Over 70 of the largest brands in the US and UK have purchased a combined total of almost 1 billion seconds from Parsec.
"Parsec data is groundbreaking. It has influenced how we think about creative and enriched audiences across many mediums.”
- Mark Power, Managing Director, Ansible
The Brand-Building Benefits of Time-Based Advertising
Brands require consumer attention in order to get their message across. But what’s the impact of that attention? By combining Moat data with attitudinal data captured in a Parsec research creative, it’s possible to measure the impact of time on brand metrics. Through this research, Parsec has been able to prove the value of buying using attention metrics. Here are some of their key findings.
Awareness. Consideration and recall increased an average 14% per second of time-spent as measured by Moat, according to data from over 43 campaigns and over a quarter million mobile respondents.
Engagement. Engagement increases an average of 3% for every 5 seconds of time-spent across 90 campaigns, as measured by Moat for non-click interactions with the ad.
"CPS is an incredibly efficient way to purchase media. It aligns the entire media supply chain around capturing authentic consumer attention.”
- Brooke Reno, Managing Director, The Media Kitchen
Parsec has also had striking results with many of the campaigns. Here are just a handful of results from individual CPS campaigns backed by Moat data and executed by Parsec:
- 14.4% Rise in brand consideration - Jaguar
- 19.2% Engagement rate - BMW
- 7.3% Lift in purchase intent - Dell
- 79.2% Lift in clicks per hour - Global Energy Brand
"The results were great and the idea of buying on time is really where things should be going anyway!”
- Jenny Gurvich, Associate Media Director, Zenith
Attention is the scarce resource that marketers are truly after.
New metrics can be daunting. But the work done by Moat and Parsec has both demonstrated the impact of time-spent on brand building and simplified the process of using attention metrics like Cost Per Second to purchase media. Attention is the ultimate currency — and when advertisers purchase on attention metrics, they can count on results.
This story was originally published on www.moat.com.