Originally appeared in MarketingProfs
We all understand the importance of data quality. Metrics like third-party validations, match rates, and accuracy scores help us assess data quality on its own terms. Yet too often, organizations struggle to connect high-quality data with real-world business outcomes. How does data accuracy directly impact the ability to reach target audiences and campaign performance?
Scale and cost: The tradeoffs of accuracy
Marketers are frequently incentivized to prioritize broad reach, even at the expense of precision. This often leads to decisions driven by short-term gains—reaching more people at a lower cost. The temptation is deceptively straightforward, but deep down we know overly simplistic approaches are likely to fall short.
Cheaper data solutions, even if they seem to provide greater reach, mask a deeper issue. The data may not be accurate. In fact, the initial savings from cheaper data typically result in higher long-term costs due to inefficiencies and waste that are hard to track. Unless you’re carefully evaluating your campaign results, it can be difficult to see where the inefficiencies are creeping in.
The hidden cost of inaccurate data
Programmatic platforms make it easy for mistargeted impressions to slip through unnoticed. Common issues include:
Stale data, where consumer behaviors and locations have changed but the data hasn’t.
Inactive signals, where you think a digital identifier like a device ID is addressable, but the device hasn’t been used in months.
Disparate or duplicative data, where you think you’re reaching three people but in fact it’s just one person who you’re frequency bombing. Nobody likes getting the same ad over and over again. It’s like if your co-worker messaged you “hey” five times in a row.
Direct mail waste is tangible: towering stacks of returned mail serve as undeniable reminders of inefficiency, not to mention the financial costs of wasted postage. Digital campaigns, by contrast, often obscure their inefficiencies within complex programmatic platforms or impression reports. It’s like watching a gust of wind scatter piles of paper into the ether—it’s hard to track and quantify.
As a result of these data inaccuracies, brands mistakenly assume they’re optimizing their budgets when, in fact, they’re hemorrhaging money and reaching the wrong people with a message they don’t care about. It’s a marketer’s nightmare scenario.
The perceived savings from cheaper, less accurate data turn out to be an illusion.
The compounding effect of inaccurate data
Consider a situation where an inaccurate insight or signal prompts a brand to adjust its targeting toward an underperforming segment. Each new campaign uses this flawed data to guide its optimizations, amplifying the waste. What starts as a minor inefficiency quickly becomes a significant budget drain, funneling resources into segments that aren’t delivering.
If you bake a cake but use salt instead of sugar–each new ingredient only makes the final product more unpalatable. With ad targeting, the feedback loop created by optimization tools exacerbates this issue. Decisions are made based on misleading metrics, perpetuating flawed strategies and causing brands to over-invest in underperforming tactics. Without scrutiny, brands risk building entire strategies on fundamentally flawed insights.
The value of investing in the highest quality data
With accurate data, brands can zero in on the right audience. This is particularly critical in lookalike modeling. By enriching customer files, brands can understand the nuances of who their best customers are—and how to find more of them. Tailored messaging, based on a consumer’s actual behaviors and interests, deepens engagement. Conversion rates rise as campaigns meet customer needs.
Accurate data also provides insights that aren’t immediately obvious. Sometimes, seemingly minor behaviors or unexpected demographic segments can emerge as key drivers of conversions. It’s like finding the one avocado at the grocery store that’s perfectly ripe…you’re well on your way to delicious guacamole.
To truly grasp the impact of data accuracy, traditional validation metrics such as third-party assessments (e.g. Truthset) should be paired with other performance indicators that show you how well data reflects actual consumer behavior. With this complete picture in view, the choice is obvious: quality data is worth the premium.
Acting on what the data tells you
Collecting accurate data is just the first step—the real challenge is having the ability to act on what it reveals. Many brands enter campaigns with preconceived notions about their target audience, only to find the data tells a different story. Ignoring these insights stifles growth. The value of data-driven marketing lies in trusting the insights and adapting strategies accordingly.
How to test if your current approach is working
We understand that changing data providers can feel daunting, but there are low-lift ways to explore whether your current approach is truly delivering. Test the waters by selecting an Experian Audience on a major platform or building a custom audience to see how your campaigns perform. Alternatively, collaborate with Experian’s insights team to gain a deeper understanding of your audience and determine if it aligns with your current strategy. It’s a small step that could lead to a big impact.
Get in touch with our team today
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The Tapad Device Graph™ Will Expand Sizmek’s Cross-Device Reach and Improve the Efficiency and Precision of Digital Advertising NEW YORK, November 16, 2017 – Tapad, part of Experian and a leader in cross-device marketing technology, today announced a new global partnership with Sizmek, the largest independent buy-side advertising platform delivering impressions that inspire. By integrating the Tapad Device Graph™, Sizmek will enhance its AI-powered predictive capabilities to deliver accurate, cross-device messaging at global scale in a privacy-safe environment. Combined with Sizmek’s existing data enablement, creative optimization and media execution capabilities, the proprietary Tapad Device Graph improves the efficiency and precision of digital advertising by accurately matching people and devices. This enables advertisers to get a clear view of individual customer journeys, achieve scale without compromising on efficiency, and uncover new opportunities for conversion. Sizmek’s customers will have access to Tapad’s globally compliant and privacy-safe datasets across the Americas, EMEA, and APAC. With deeper knowledge of consumer preferences, purchase intent and conversion behaviors, Sizmek and its customers are able to enhance advertising strategies including cross-device audience identification and more. “Tapad is known for their strong cross-device capabilities, and their offering is an excellent addition to our growing program for best-of-breed data and measurement partners" says Mike Caprio, Sizmek’s Chief Growth Officer. “For our customers, this partnership will add further people-based marketing precision and reach to our comprehensive offerings around creative optimization, data enablement and media execution." “Sizmek’s adoption of industry-leading AI and machine learning campaigns will be a great complement for the Device Graph,” said Chris Feo, SVP, strategy & global partnerships at Tapad. “Our ability to create smaller, more customized segments in conjunction with Sizmek’s AI modeling will deliver efficiency, effectiveness and increased ROI for marketers worldwide.” This partnership comes at a time of a massive shift in the marketing technology industry. Companies like Tapad and Telenor, as well as Rocket Fuel and Sizmek, are joining forces to adopt those technologies that are most efficient and accurate at reaching consumers at scale in a personalized and non-intrusive way. The combination of Tapad and Sizmek’s offerings will provide international marketers with exceptional resources to lead a more cost effective and results driven campaign. Contact us today
The Tapad Device Graph™ increases Throtle’s amplification by 475 percent. NEW YORK, Nov. 1, 2017 /PRNewswire/ – Tapad, now a part of Experian, the leader in cross-device marketing technology, today announced a partnership with Throtle, a leading data onboarding company. The Tapad Device Graph™ will enhance Throtle's best-in-class onboarding capabilities by providing accurate and privacy-safe cross-device reach as well as precise audiences at scale. In partnership with Tapad, Throtle will deterministically link its services to a corroborated individual with hundreds of targeting attributes. This linkage allows Throtle to offer true cross-device identity management and identity resolution services to accompany its robust onboarding capabilities. Throtle will also work with Tapad to validate its device graph, building larger, more comprehensive audience segments. To date, the Tapad Device Graph™ has connected 61 percent of Throtle IDs to related ones in the graph, with an average amplification rate of 475 percent for Throtle's IDs, or 4.8 new IDs per each of Throtle's. Throtle has also seen its overall match rates involving Tapad's identity insights rise an average of 15 percent since the inception of the partnership. More specifically, Tapad's mobile advertising IDs (MAIDs) have increased Throtle's in-app identity inventory by 35 percent. "Tapad has proven to be a trusted source for cross-device matching and has a tremendous reputation in the advertising and marketing technology industries for delivering superior precision and scale with the utmost dedication to privacy," says Paul Chachko, CEO, Throtle. "Since we first began our test phase, and continuing through to this day, Tapad has met and exceeded our expectations for what a partner should be." With Tapad's strong commitment to precision and accuracy, Throtle was confident that this partnership would prove to be the right choice for the strategic expansion of its platform. Not only does Tapad deliver in-depth insights, parsing deterministic from probabilistic linkages, but its pool of device-level touchpoints enables Throtle to increase scale without seeing a decline in precision. "Accuracy and precision are core characteristics of our proprietary Device Graph," explains Chris Feo, SVP, Strategy & Global Partnerships, Tapad. "When Throtle approached our team, we knew we would be the right partner to assist their leading onboarding technology. We're excited to work with Throtle to achieve cross-device reach, audience scale and precise deterministic and probabilistic linkages for its clients." For more information about the Tapad Device Graph™, or to request a demo, visit https://www.experian.com/marketing/consumer-sync About TapadTapad Inc. is a marketing technology company renowned for its breakthrough, unified, cross-device solutions. The company's signature Tapad Device Graph™ connects millions of consumers across billions of devices. The world's largest brands and most effective marketers entrust Tapad to provide an accurate, privacy-conscious, and unified approach to connecting with consumers across screens. In 2015, Tapad began licensing the Tapad Device Graph™ and swiftly became the established gold-standard throughout the ad tech ecosystem. Tapad is based in New York and has offices in Boston, Chicago, Dallas, Detroit, London, Los Angeles, Miami, Oslo, San Francisco, Singapore, and Tokyo. Tapad's numerous awards include: Forbes' Most Promising Companies, Deloitte's Technology Fast 500, Crain's Fast 50, TMCnet Tech Culture Award, and Global Startup Award's "Startup Founder of the Year". In 2016, Tapad was acquired by the Telenor Group, one of the world's largest mobile operators. About ThrotleThrotle is a data onboarding company focused on deterministic matching and identity resolution, empowering brands with true individual-based marketing. Our data centric onboarding approach guarantees the highest level of accuracy, scale, and responsiveness for our clients. For more information on Throtle, please visit, throtle.io. Contact us today