iSpot.tv has introduced a new analytics solution that allows advertisers to measure in real time the effectiveness of their ads across metrics including web site visits, registrations and purchases. The solution is the latest in an ongoing series of technology initiatives bringing enhanced attribution, targeting and ROI potential to traditional TV ads.

iSpot.tv’s CEO Sean Muller told me in a briefing that the conversion analytics solution directly addresses TV advertisers’ pain point of not being able to accurately or quickly measure and attribute how TV ads translate into specific actions. The challenge has been exacerbated by consumers’ shift to on-demand viewing across devices on services that are sometimes ad-free as well.

With the conversion solution, advertisers insert iSpot.tv code on their web sites and/or integrate its SDK with their apps, which then tracks users’ actions. iSpot.tv has also embedded separate software in 10 million smart TVs, which powers the company’s ad monitoring across almost 120 different broadcast and cable TV networks.

As ads run, iSpot is able to connect them at a household level with the specific actions it is tracking to provide the advertiser with conversion insights. The data can be viewed to see which networks and genres drove the best conversion, how different dayparts performed and how conversions occurred over time.

Sean provided the example of Experian, which ran a campaign in January and February promoting a new credit monitoring service, with a goal of tracking site visitors who signed up. Experian monitored upfront which creative worked best and then used it for the bulk of its spend. Sean said 15 million impressions resulted in approximately 112,000 conversion events for a .75% conversion rate.

The conversion solution has been in beta for the past 6 months with 20 different advertisers in wireless, auto, financial services, e-commerce, online services and others testing it. The solution is part of enterprise-level packages iSpot.tv sells to advertisers and agencies that includes its monitoring service, analytics, tracking and professional services.

It’s no secret that Google, Facebook and other digital players are making a big play for TV ad dollars, touting their extensive reach and user data to do precise targeting. In this context, the bar is getting ever higher for TV networks to offer more immediate, ROI-driven results. All of this makes iSpot.tv’s conversion analytics solution look quite valuable.

iSpot.tv also produced a fun little video explaining some of this below: