Customer data is valued high, as it should be. For this reason, marketers should be skeptical of the data being provided by their partners. A recent research study revealed that as many as 75 percent of brand marketers and agency buyers do not trust the data provided and wonder if the strategies are touching upon the right consumers. Also, as many as 65 percent didn’t really get where their data came from. This makes it all the more important to question your advertising data provider. Begin with these questions.
Where are you getting your data
Any advertising data professional will try to make you believe their data is more relevant than others. Find out where their data come from, prior to buying. Challenge your data providers with this question to see if their first party data is obtained internally and if this is the case, how.
Most agree that first party data is better than third party data. If the data does not represent a sizeable number of users though, it may be worthless. Just because they claim a high number of data storage terabytes does not mean they got this data from a large audience.
How much of the data is procured from look-alike models
Many companies with first party data have this on a smaller scale and with limited reach. To make up for this, they use look-alike modelling to artificially inflate their reach to make the data more appealing to buyers.
Which specific behaviours place a user into a certain audience category?
If you are receiving data of customers that can be placed into a specific interest category, know what qualified them to be placed there. Ensure that data is always updated and relevant.
How are audience segments maintained
It’s no secret that what drives consumers to buy can depend and change based on interest, wants, needs and more. If a user is placed in a certain category but stops showing interest or intent, they should no longer be included. Know how your provider is keeping the target market engaged.
Can they explain how they define their audience segments
The titles on which they identify audience segments, how relevant these are means a lot. Just because someone reads a DIY article, this does not make them a home reno novice. Know the distinction.
Among the categories, where does data perform the best?
It is on you to understand how exactly how your data is being obtained and why it is performing the way that it is.
Where do your data provider’s strengths lie?
Before implementing a marketing campaign, understand where your data provider’s strengths lie. Know what metrics they intend to use to guide strategy. Ensure they are aligned accordingly.
Can you connect with the same user on numerous devices?
Cross-device marketing strategies are a must in today’s world. Almost all users will use multiple devices over the course of the day. Being able to reach them on all devices creates ongoing engagement and conversation, guiding them to purchase.
Can you attribute an increase in performance directly to a campaign?
Advertising should increase sales and demonstrate a positive ROI. A data provider needs to have the ability to explain their data and know exactly how it will give sales a boost.