Let’s face it: advertising is not what it used to be. Whatever you think you may know may be obsolete with the next algorithm refresh or technology update.
And third-party data is one of those rapidly changing technologies. Its many-pronged strategies for collecting information make it a fantastic, if challenging, tool for advertisers to use.
Third-party data is now one of the best ways to pinpoint your target audience. While some may view it as intrusive, it’s a gold mine for advertisers. The data uncovered is an invaluable glimpse into your audience’s devices, preferred social platforms, geographical location, income, spending habits, and so much more. It can be used in conjunction with your own research to better understand where to target potential customers. Plus, all that information gives advertisers access to that person over and over again for retargeting.
It overall gives you a better ROI.
Third-party data is frequently used in programmatic advertising, which is automated media buying. (Traditional advertising requires the manual buying of ads, while programmatic advertising uses software to automatically buy space on digital platforms.) Advertisers meet publishers through a platform that allows for near-instantaneous ad selling and placement with people who match a target audience profile. This is where third-party data comes in — it helps advertisers and publishers reach those people who meet the ideal audience and can follow them around from location to device.
But this technology needs experts to analyze, strategize, and then execute a plan to really capitalize on the benefits.
Advertising agencies are always staying on top of the latest trends and algorithm changes. They can partner with third-party data collection agencies to customize campaigns and provide suggestions to maximize your return on investment. So why not reach out to the experts?
When you need the right partner to be a strong, consistent steward of your brand, reach out to Know Advertising: An Agency of Excellence.