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:
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
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
Latest posts
The Tapad Device Graph™ Complements Freckle’s IoT Capabilities to Extend Scale and Precision of Audience Data New York, NY — December 6, 2017 — Tapad, part of Experian, is the leader in cross-device marketing technology and Freckle IoT, the global leader in multi-touch, offline attribution, today announced they are partnering to provide brands with a holistic and insightful view of their customers, in predefined locations in all global markets. Starting today Freckle IoT will be leveraging the Tapad Device Graph™ to supplement the company’s data set to offer brands more granular attribution data. Consumer’s online behavior is becoming more and more complex, with the average consumer owning three or more devices and 35 percent of consumers converting on a different device from the one on which they started their research. These interactions become even more complicated when considering how online interactions and media impact offline sales. The collaboration between Tapad and Freckle, which combines Freckle IoT’s persistent location data with Tapad’s proprietary cross-device technology, is an important step in empowering brands with the information they need to better understand how digital media, consumed across multiple devices, is impacting offline attribution. Using its opt-in, first-party data, Freckle IoT helps brands measure the effectiveness of their advertising by independently matching media spend to in-store visits. Tapad’s technology extends Freckle’s data-set by allowing brands to access additional deterministic and probabilistic data, at scale and across all devices, to analyze consumer behavior ahead of in-store purchase. “Combining our technology with Tapad’s identity-driven solutions was a natural fit for our business,” said Neil Sweeney, founder and CEO at Freckle IoT. “With our unbiased, agnostic measurement and Tapad’s precise and privacy-safe data set, we knew this partnership would be a strong complement to providing more effective results for the needs of our brand partners.” “Freckle IoT is a valuable partner for Tapad as our cross-channel attribution capabilities continue to expand at global scale,” says Chris Feo, SVP, strategy and global partnership at Tapad. “Marketers today need a tool that can address the online and offline disconnect throughout the consumer journey. Freckle’s IoT innovations combined with the Tapad Device Graph help address this need by providing brands, across multiple verticals, accurate and precise identity-driven data powered by true consumer behavior — online and offline.” For more information on Freckle IoT’s measurement offerings, please visit www.freckleiot.com. Contact us today
London – 24 November, 2017 – Tapad, part of Experian, is the leader in cross-device marketing technology and continues to broaden its reach across EMEA. The business today reported a 20 percent growth in the scope of its regional device graph, a data set used by organisations to map consumers to their devices, enabling better, more personalised cross-device marketing. This news complements Tapad’s recent expansion of its UK team with the hire of experienced solutions engineer, Davide Rosamilia. As the demand for cross-device technology solutions continues to grow around the globe, coupled with the emergence of regulations such as Europe’s General Data Protection Regulation (GDPR), Tapad is committed to offering suppliers the greatest level of insight without compromising consumer privacy. Since Tapad started licensing its proprietary Tapad Device GraphTM just over a year ago, demand for the company’s technology has experienced significant growth. New supply partnerships and proactive data sourcing have also meant an increase in devices across key markets, which contribute to the overall 20 percent growth of the EMEA device graph, including a 44 percent increase in the U.K., 47 percent in France, and 85 percent in Germany. “We’re continuing to invest heavily in growing our regional device graph, allowing us to better meet the needs of EMEA marketers as they strive to reach individuals with greater precision in some of the most tightly regulated marketplaces worldwide,” said Tom Rolph, VP EMEA, Tapad. “This year, we have also welcomed 10 new data suppliers whom we’ve helped to increase cross-device amplification, attribution and audience extension, helping to further set us apart in the marketplace and successfully expand our EMEA presence.” Available around the world, the Device Graph provides access to Tapad’s globally compliant and privacy-safe datasets across EMEA, APAC and the U.S., and offers deeper knowledge of consumer preferences, purchase intent, and conversion behaviors. “Tapad has shown a unique ability to adapt to the nuances of the local EMEA market and display impressive growth without sacrificing dedication to privacy,” said Alistair Hill, CEO and Co-founder at On Device Research. “When we started vetting technology vendors, we needed to be sure that we selected a partner that could offer compliant and privacy-safe datasets to operate within our stringent data standards. Tapad’s probabilistic solution offered us greater scale, greater device reach, and increased engagement without compromising on privacy.” Contact us today
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