This week’s guest blog post is contributed by Chris Hemick, Sr. Product Marketing Manager, Alliant.
There’s a ton of data out there—and it’s growing rapidly. As a media buyer, how do you identify the audiences most likely to achieve your KPI goals? There are several sources for evaluating age and gender accuracy, but assessing audience data beyond that is challenging.
Below, you’ll learn a two-pronged approach to best identify high-performing audiences for more effective campaigns.
This part is easy—just get curious about the data and start asking questions. Data providers should jump at the opportunity to answer your questions — and, you’ll walk away with a clear understanding of the audience's makeup. Here are three sample questions to get you started:
Is it purchase, social, interest, geo, or a combination? Each consumer signal comes with its own benefits, drawbacks and degree of predictive prowess. Purchase data is a declarative activity, while social or interest data is less definitive and may require additional steps to extract value.
Location-based solutions are an exciting option, but may come with some uncertainty that is typically associated with emerging solutions. Always be sure that your audience’s behavior aligns with your campaign goals.
Both types have their benefits. The key is to understand the origin so that you can build a well-rounded audience. In fact, at Alliant we successfully supplement multichannel purchase data with digital activity to deliver a more complete picture of consumer behavior.
When done correctly, modeling generates powerful results. True statistical modeling uses robust mathematical equations to build audiences based on their likelihood to complete a certain action. As a buyer, you should always be aware when modeling is used. Our team clearly labels all modeled audiences with “Propensity” and define the elements included.
Once you’ve selected your audiences, architect your campaign to enable you to analyze performance by data set or provider. Instead of bundling similar segments, separate placements by audience. You’ll gain the visibility you need to determine which segments are working--and which are not--to make optimization decisions quickly and set future campaigns up for success.
While this workflow requires extra time up front, it will pay off in stronger campaign results. Asking the right questions equals more confident data recommendations and reduces the likelihood of having to optimize away from lower-performing audiences mid-campaign.
About Chris Hemick
Chris brings a decade of media experience and drives product development for Alliant’s suite of audience and optimization solutions. Prior to joining Alliant, he ran the Media Strategy, East team at TubeMogul (acquired by Adobe) and negotiated national television buys at OptiMedia (now Blue 449). He believes in bringing together technical expertise and creativity to produce innovative product and campaign strategies.
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