Marketing

Data Buying Marketplace—or Matchmaking?

June 17, 2019  |   Ben Webb

U.S. marketers spent over $19 billion acquiring and activating third-party customer data in 2018. It’s fuel for the personalization engine—helping brands and marketers build meaningful audiences, and then reaching them with tailored messaging for more dynamic advertising.

Great people-based marketing needs high-quality data

It’s not enough to use third-party data – identifying the high-quality segments to amplify your audience is critical. It doesn’t matter how advanced your personalization engine is – it only runs well if you’re using the right fuel.

Whether it’s media buying or the world of online dating, you have to trust the information available to you about a potential match. And wouldn’t it be great if you had enough data about the other party to make the best possible decision? You don’t want to run a marketing campaign without knowing the full details of your third-party data, much like you wouldn’t want to go on a date without knowing about the other person.

The need for data transparency from all parties

People-based marketing is about building valuable relationships through carefully crafted customer profiles. Effective (and cost-efficient) marketing doesn’t happen by just turning up and hoping for the best.

In an ideal world, marketers wouldn’t have to go on these “blind dates” because the third-party data they’re evaluating would paint a clear picture of who they’re trying to target. The concept of transparency in data is nothing new. After all, Procter & Gamble has been campaigning for digital transparency for years. But that doesn’t mean it’s easy to achieve.

Consistently working with ethically sourced, and transparent third-party data takes work. It’s an ongoing commitment to transparency that needs buy-in from all sides, across marketers, media agencies, and data providers. But ultimately, it leads to more effective people-based marketing, which means better performing campaigns, more effective marketing spend, and most importantly, better customer experiences. 

All this starts with one simple question: Would you date your data?

See why ethically sourced & transparent data means better matchmaking for more successful campaigns for marketers, agencies, and data providers.