An Audience Insights Platform is a new category of software that savvy media companies, broadcasters, and Pay TV operators will need to start tracking and prioritizing. In order to compete in a dynamic market, these companies will need every edge to secure the views and pocketbooks of today’s video consumer.
Audience Lifetime Value
One of the primary KPIs these platforms track and optimize is Audience Lifetime Value; average revenue per user (APRU) divided by the monthly churn percentage. Lifetime Value is a cornerstone to measuring improvements as it works across ad-based video businesses, subscriptions services, and hybrids that include both. Cohorts of audience members based on personas, the month a customer signed up and even the first show they watched can only be compared when there’s a common metric. Lifetime Value fills this need nicely.
But what are they and how do they impact my business?
An Audience Insights Platform contains a harmonized data set pulled from many disparate sources. Sometimes as many as six or even up to a dozen. It provides various KPIs and unique insights that could otherwise not be gained from viewing the data from these sources alone. This graphic shows a simplified view of what an Audience Insights Platform does: data aggregation, harmonization, correlation, visualization. The Audience Insights Platform provides a number of benefits for the organization:
- Create a common understanding of the state of the business for the various teams and stakeholders
- Track decisions and their impact on the business
- Reducing the number of lost customers or churn
- and more
Our latest whitepaper outlines these benefits, answers questions, and makes a case for employing an Audience Insights Platform soon. Download it today to better understand what an audience insights platform is and how it can increase your audience lifetime value.
Tags: audience insights platform • audience lifetime value