EDO, Inc. today formally announced a partnership with SoFi Technologies Inc., a leading digital personal financing company. EDO will bring an innovative approach to SoFi’s TV performance measurement.
EDO measures the spike in consumer engagement behaviors, such as online search, for a brand in the moments after a TV ad airs. The larger the spike, the more consumers are engaging with the brand, and higher engagement is predictive of higher sales. By applying EDO’s outcomes-driven platform that measures consumer actions and what drives them to purchase, SoFi will gain immediate access to data that will help the brand ensure it effectively engages audiences through its TV ad campaigns.
SoFi invests in TV advertising as part of its total media mix to tell the story of how it is a full-service financial platform that helps its members get their money right. The company found that EDO performance data correlates strongly with several business outcomes across the entire consumer journey, from awareness to active engagement and digital KPIs. For example, branding for SoFi and SoFi Stadium during the Super Bowl LVI broadcast generated 110.6x more online searches than the average ad that night, and nearly 5x more online searches than the top-performing Super Bowl ad airing from Polestar.
“EDO helps us optimize our TV campaigns to increase consumer engagement across the audience spectrum, delivering a deeper understanding of what drives awareness and action, including our explosive search growth during the Super Bowl, hosted at SoFi Stadium this year,” said SoFi’s Chief Marketing Officer Lauren Stafford Webb. “We are constantly innovating our measurement to drive tangible business impact, and EDO plays an integral role in how we can make business decisions based on meaningful and timely data.”
As part of the partnership, which is underway, EDO is analyzing SoFi’s historical campaign effectiveness, delivering live sports analyses, and providing in-campaign reporting to further optimize ongoing campaigns and other new marketing initiatives.
“In a highly competitive consumer marketplace, industry leading brands like SoFi need more than impressions to ensure their creative campaigns resonate with audiences,” said Matt Smart, VP, Brand Partnerships, EDO. “EDO prides itself in our ability to deliver immediate and actionable insights to brands, advertisers and networks alike that can drive impactful decision making.”