LG Ad Solutions, Affinity Take On Closed-Loop CTV Targeting
LG Ad Solutions and Affinity Solutions are launching a new closed-loop CTV targeting and measurement solution that integrates Affinity’s purchase data with LG Ads’ CTV ad infrastructure to help brands optimize ad spend for conversions.
The new solution, dubbed LoopIQ, launched just this week.
According to the companies, the LoopIQ solution comes in response to growing demand for more refined targeting and tangible measurement methods in the connected TV space.
CTV advertising presents an enviable long-term opportunity for ad tech stakeholders, enabling brand advertisers to harness data insights, facilitating better ad targeting and campaign optimization. It stands out for combining the reach of traditional television with the precision and measurability of online advertising.
Although CTV represents a relatively small share of the total programmatic market at present, more than $2 out of every $5 spent on programmatic advertising still goes to CTV — an impressive figure for a relatively young channel. Despite some cooling in the programmatic market in 2023, CTV advertising has remained strong, and analysts predict that CTV will be responsible for virtually all of the market’s growth in the next few years.
The proliferation of streaming services in 2023 has also expanded CTV audiences, offering advertisers an even larger base of engaged and highly targetable consumers.
The new LoopIQ solution from LG and Affinity integrates purchase data with existing capabilities, like privacy-compliant automatic content recognition technology, so brands can access more precise targeting and measurement results. The solution should also help to ensure that advertising spend is optimized with the right audiences in mind.
“LoopIQ’s unique capability to effectively link purchase data with ad targeting and measurement is set to revolutionize the way brands reach and resonate with their audiences in ad-supported streaming environments,” explained Tony Marlow, global chief marketing officer of LG Ad Solutions, in an announcement about this week’s launch. “The partnership between LG Ad Solutions and Affinity to launch LoopIQ marks a significant evolution in the CTV advertising landscape.”
Industry Leaders Join Forces
Coming together to launch a closed-loop CTV targeting and measurement solution seems like a no brainer for LG and Affinity. The companies have vast expertise in data analytics and CTV advertising infrastructure.
Affinity’s position in the space dates back to at least 2017, when the company launched a purchase-driven marketing cloud that was covered extensively on Street Fight at the time. That cloud, which combined purchase data, machine learning, and analytics for retailers and brand marketers, would not be Affinity’s last push into the ad tech space.
With its new closed-loop CTV targeting partnership with LG, Affinity is solidifying its commitment to CTV advertising, and also enhancing viewer experiences more broadly.
“We are thrilled to join forces with LG Ad Solutions on this groundbreaking endeavor,” said Damian Garbaccio, chief business and marketing officer at Affinity. “LoopIQ is a testament to our joint vision of harnessing exclusive consumer purchase data to craft more meaningful outcomes and efficient advertising experiences.”
