In an effort to help brands measure the impact of second-screen ad campaigns, Shazam is introducing a new metric tracking users' engagement with TV spots using the media "tagging" app.
It's officially called the "Shazam Engagement Rate" and, according to the company, it "is defined as Shazam tag volume for each spot that airs, divided by the GRP's for each of those airings." In other words, the engagement metric will tell brands not just how many times their commercial was "tagged" but also how large the audience was at the time.
"We're a leader in second screen and working with brands to help consumers engage with their ads through their smart devices," Shazam CEO Rich Riley told Adweek. "Launching this new engagement metric is going to provide some unique insights to brands and help us make the second screen increasingly effective."
There are currently 250 ad campaign that can be tagged on Shazam (it's the same process as using the app to identify a catchy song you can't place), and the new metric is available only to those campaigns partnering with the company. The data are presented to brands in the form of Power Point slides showing bar charts cutting across time of day, programs, location and so on, Riley explained.
Riley was set to officially unveil the metric at the Cannes Lions festival. "Shazam is already enhancing how millions of consumers around the world engage with TV advertising,” Riley was expected to say, according to his prepared remarks. “Now, we are able to help brand marketers measure the impact of their ad campaigns using powerful data-driven insights never before available, making it possible for companies to optimize their ad spend.
"At the core of this innovative service, Shazam is unveiling a new television advertising engagement metric, the Shazam Engagement Rate, showing brands when and where their ad is—or is not—resonating with their target audience, providing an invaluable and exclusive service to our clients."