third party data : helping marketers gain powerful insights

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Neeraj Mishra | Mcounts | [email protected] Helping marketeers gain powerful customer insights Third Party Data

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Page 1: Third party Data : Helping Marketers gain powerful insights

Neeraj Mishra | Mcounts | [email protected]

Helping marketeers gain powerful customerinsights

Third Party Data

Page 2: Third party Data : Helping Marketers gain powerful insights

What is 3rd Party Data

Third-party data is data you can act on that comes from other Data providers

Not your own user dataDoes not come to you from direct relationships or publishersA news site owner might segment its readers into “sports” vs. “politics” vs. “travel”and make those segments available to buy against.

Somebody like Booking.com might take its detailed Travel understanding of people, combineit with their location and browsing behavior and try to create a “best guess” profile for otherusers. You can then layer that data over your inventory to buy ads in a more targeted fashion.

Each additional data source you apply helps you

Narrow down your targetingImprove your bidding accuracyWrite ads that are more relevant to the people seeing them.

Page 3: Third party Data : Helping Marketers gain powerful insights

Two Main Sources of Data Two Main places of use

Public Data Data Brokers Demand SidePlatforms (DSPs)

DataManagement

Platforms (DMP)

Page 4: Third party Data : Helping Marketers gain powerful insights

Public Data

Enriching your existing data is as simple as doing a lookup against publicly available records

In countries Like UK, these may include data held at:

Driver and Vehicle Licensing AgencyLand RegistryElectoral RollPhone book

These public databases exist to allow people to learn more about your existing users.

If the electoral roll shows they have dependents, you can infer they’re more likely to be a family.If it indicates their car was purchased 11 months ago, they might be in the market for car insurance now, as their original policywill be up for renewal.Social Listeners: With a person’s email address you can see what publicly stated interests they have on their Facebook profile,which Twitter hashtags they interact with, what organization they work for and at what seniority from their LinkedIn profile.

By combining all of these data sources together you build a deeper understanding of your existingcustomers, either to help your sales teams, or your media buying options and lookalike modeling.

Page 5: Third party Data : Helping Marketers gain powerful insights

Data Brokers

Data brokers build detailed and granular customer segments by combining datasource together. These typically consist of segments of users that have been

cookied, based on browsing history or other data.

Page 6: Third party Data : Helping Marketers gain powerful insights

You could partner with a company that runs“Which Game of Thrones/ The Big Bang TheoryCharacter Are You?” quizzes.

Each time a user takes it, he or she is answering araft of personal questions that get stored in thecookie from that provider. Quizzes, questionnairesand competitions help companies enrich this datafurther.

Explicit DataImplicit Data

Credit card companies can use their online portals to drop acookie on a user’s browser if that person is into fine dining orOnline Shopping

User 'X" has visited five-plus news sites in the last week” sothat person can be in a segment as being interested incurrent affairs

Companies like ComScore, Compete, HitWise etc.have their pixels on a lot of sites in order to justgenerally monitor how websites are used

On top of browsing history, companies with otherkinds of data might things Like:

You’ll never see Implicit or Explicit data. As an advertiser, you won’t know anything about how this informationmatches to your users. What you can do is use those segments in your DSP or DMP

Data Brokers

Page 7: Third party Data : Helping Marketers gain powerful insights

In Demand Side Platform, we see a long list of possible customer segments. Some are free, provided byyour own first-party data. Some are free or paid, provided by the DSP owner. Many more are paid fordatasets, provided by data brokers.

Using Data In Your Demand Side Platform

If you offer luxury Travel vacations, thenshowing your ads alongside articles aboutTravel seems natural. But you don’t knowwhich people seeing your ad are likely to lookfor a luxury vacation vs. a bargain vacation.

By scanning the DSP side Segment list (they’relong, but searchable) you can find a segmentthat’ll match, with an associated CPM (cost).

When you apply that segment, you’re adding thatCPM (cost) onto your advertising cost, but limitingyour ads to only people who match that segment.

You’ll pay more per person who sees your ad, butyou’ve filtered your advertising down to only beseen by users you think will buy a vacation fromyou.

Each filter saves you money, and your balancingact is to save more money than the extra perperson cost, for the same number of users buyingvacations.

Page 8: Third party Data : Helping Marketers gain powerful insights

Your Data Management Platform is the place for you to segment your own first-party data. By creating ruleslike “people who have viewed more than five pages in category A” to define users interested in A, or “peoplewho have purchased more than two items in the last 12 months” to define users who return to purchase fromyou, your understanding of how user behaviors differ improves

Using Data In Your Data ManagementPlatform

It’s even better when you start combining usersegments with third-party information.

If your DMP has access to the major databrokers, you could ask, “What demographic doesExperian think my segment A users are in?”Immediately you’ve added something extra toyour segment, something that helps you predictconversion rates and decide ad messaging.

It can get more interesting, particularly whenyou’re trying to look at cross-sell and up-sellopportunities.

Your “users with house insurance from 'Us'segment” could be combined with a third-party“users in market for a new car” segment, toidentify people who’ll be looking for carinsurance quotes soon.

Page 9: Third party Data : Helping Marketers gain powerful insights

Target people who are not yet customers, but behave similarly to our existing/best customers.

High-quality lookalike modeling turns prospecting from a “let’s advertise everywhere with a widenet and see what works” mechanism, to a targeted and high return campaign, the way digitalmarketing should be.

Using Data In Your Data Management Platform

But you can only find peoplewho look like your existingcustomers if you know whatyour existing customers looklike.

Lookalike Modelling

That's why Every single extra data point you haveassociated with a segment using your DMP and 3rd PartyData Brokers, gives you better insight into what thatsegment looks like.

The third-party data you have access to in your DMP canbe used to enrich that view of your segments, and Onestart leveraging that out in the campaigns.

Page 10: Third party Data : Helping Marketers gain powerful insights

Third-party data is a fantastic addition to your marketing and your customer insight.Your goal is to use it to improve your buying and optimization, your creative and

messaging, your customer understanding and therefore prospecting.

Conclusion

Page 11: Third party Data : Helping Marketers gain powerful insights

Agency with a creative heart and a technological backbone

@[email protected]+91-7799656664+91-9986114420 www.mcounts.co