In the rapidly evolving world of media buying, not all data is created equal. Marketers face the challenge of discerning the quality of data to effectively target their audiences and maximize the impact of their campaigns. This blog post will guide you through the key considerations when evaluating digital audiences and data quality in the new media-buying landscape.
When confronted with multiple data providers offering similar audience segments, it’s crucial to ask some fundamental questions to ensure the quality and reliability of the data. Here are some inquiries to make:
Data source: Where is the data coming from?
Understanding the origin of the data is essential. Is it sourced from online interactions, offline behaviors, or a combination of both? Knowing the data’s roots provides insights into its reliability and relevance.
Signal utilization: What online and/or offline signals inform the audiences?
Examining the signals used to build audience segments is vital. The incorporation of diverse signals enhances the precision of targeting and ensures a more comprehensive understanding of consumer behavior.
Methodology: What is the logic or methodology used to create segments? Is it deterministic or modeled?
Evaluating the methodology behind audience segmentation is critical. Deterministic data, based on known attributes, differs from modeled data, which predicts behaviors based on patterns. Understanding this distinction is key to interpreting the data’s accuracy.
Individual vs. household: Is the segment built on individuals or matched to a household?
Clarifying whether the data focuses on individual consumers or households is essential for personalized targeting and campaign effectiveness.
Compliance: Is your data CCPA and GDPR compliant?
Ensuring data compliance with privacy regulations such as the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR) is non-negotiable. Compliance not only protects consumers but also shields advertisers from legal repercussions.
If standard audience segments don’t align with your campaign objectives, consider the option of custom audiences. Third-party data providers, such as Data Axle, can craft tailor-made segments to meet specific campaign needs.
While not all activation platforms accommodate third-party audiences, those that do may have limitations. Data Axle, for instance, offers a wide array of B2B and B2C attributes beyond the 850 standard segments available in DSPs and DMPs. This customization ensures a precise fit for your campaign goals.
For more information on bespoke audiences, contact [email protected]. Unique counts and CPM pricing will be provided within 24 hours, with the ability to make audiences available on your chosen social platform or DSP within 2-5 business days.
Retail media networks sit on a goldmine of data, primarily consisting of valuable first-party data that includes purchase behavior and location information. While this data is foundational, incorporating third-party data can provide a more comprehensive view of consumers.
By leveraging third-party data, advertisers can augment their understanding of consumer profiles with additional details, including professional information. This synergy enhances the precision of ad targeting, presenting significant opportunities for advertisers in the retail media space.
In conclusion, navigating the new media-buying landscape requires a meticulous evaluation of digital audiences and data quality. By asking the right questions, considering bespoke audience options, and strategically incorporating third-party data, advertisers can unlock the full potential of their campaigns in this dynamic and competitive environment.