In our series of articles titled INsider Questions, we have sought some of the industry’s top figureheads to see what they think advertisers should be asking performance marketers to eke more out of their campaigns. Kevin Tan, chief executive officer at Eyeota, has provided what he feels are the key questions advertisers should be asking about data before embarking on performance campaigns.
Where do you collect your data?
Not all data is created equal. The quality and breadth of data used in performance campaigns is a critical success factor. You need to ascertain from your data provider where the data has been derived from. Is it from a publisher’s website, an ecommerce site? Is it based on surveys or through a partnership? Any data provider worth their salt will be happy to provide a transparent list of how they have compiled the data.
This is important because it will enable you to determine its relevancy to your campaign and flag up any limitations. Most advertisers want to understand what users do ‘off site’ so that they can build up a broader understanding of their customers, in order to engage them more effectively. Being able to do this starts with understanding how the data used in the campaign has been sourced.
How fresh is your data?
Data is powerful because it helps advertisers engage people as individuals, rather than just a number. It helps them demonstrate the human side of their brand through timely and personalised communication. But it can do none of these things if it is dated. What is more likely to happen is that the advertiser will appear out of step with the individual’s path to purchase, thus delivering a poor user experience. Some forms of data, such as Purchase Intent, have a very short shelf life. In today’s digital era any data older than 30 days or even less is unlikely to deliver the desired outcome.
Where can I access your data?
For many advertisers, the performance channel is ideal. It is less rigid than other forms of marketing, enabling them adapt and update content quickly in order to capitalise on opportunities that present themselves. Therefore the ease and speed of access to data is key. That’s why we’re integrated with major buying platforms world-wide. This means that advertisers can access Eyeota data directly via their DSP, trading desk ad-serving platform or advertising exchange. Flexibility is also key, if the data you require is not available in the platform you are using, generally if you raise this with your data provider they should be able to arrange to activate it.
How can I use your data?
It is important that in the early planning stages of the campaign, you think about how the data you buy will be used, and communicate that to your data provider. For example, do you want to use it for search, display, social, or mobile? Are you trying to target a particular demographic? What do you want to track? The more detail you can provide upfront, the more your data provider can work with you to ensure that the data they deliver is as precise as it can be.
From a practical standpoint it is important to ascertain how you can use the data. There is no point in buying great swathes of data, only to find that it isn’t compatible with your current buying and planning tools. Or that you wanted to use it to serve content, but cannot.
Do you offer local market data that takes into consideration local language, culture and consumption habits?
Thanks to technology it can seem as if the world is growing smaller. However, local cultures, language and nuances are exceptionally important. The most successful global campaigns are those that demonstrate emotional intelligence. Applied correctly, data can be a key enabler of this and picks up on my earlier point about how data can help advertisers to demonstrate their human side.
A lot of online marketing can sometimes feel a little robotic. However, if data has local significance and is delivered via a channel that it is in tune with local consumer behaviour that can go a long way towards building brand advocacy. To that extent be sure that your data provider can testify to the integrity of their data, its regional relevance, as well as additional context for the data that proves this. Additionally, it is important to question them about local registration information.