Direct Data and Technology Relationships
Alright, we are going to nerd out a bit on this one. Still there? Cool. When you are in the media and agency business, there are a bunch of buzzwords designed to dazzle your clients with how cutting-edge they sound. We call people audiences, targets, personas, etc. and then, when we want to serve ads to those same folks, we call them data. If we know the person, they’re first-party data. If we don’t know them, we call them third-party data. Usually, third-party data is a targeting identifier for an individual (like a cookie or device ID), but sometimes it is technology that allows you to reach people in specific places. That’s what we are talking about here: third-party data.
Here’s the thing. We have the ability to tap into a multitude of third-party data providers and find incredibly niche audiences. We usually do that through a tool called a Data Management Platform (DMP). Most agencies that do their own buying should have access to one or more DMPs. The problem is the purity of third-party data segments can be unknown inside the DMP. This might include details like the recency of the information to the data points used for segmentation. Additionally, if many agencies share the same data, then the value depreciates. In other words, lots of brands could be advertising to the same people, and we wouldn’t even be 100% sure about how those people got qualified in the first place. This data can often tell a great story, but the performance may well be suboptimal.
Over time, FiveFifty has learned that going directly to relevant data sources yields the cleanest data. It’s a lot more work, but developing partnerships with these data sources allows us to build customized deals for specific audiences. If we are defining the targeting characteristics of your data ourselves, we have more insight into what is working and what is not.
New technologies drive the digital space forward. Understanding these new offerings and evaluating their usage for clients is an ongoing effort. We like to determine use cases for testing, identify a client for a test, and then provide a full analysis on the outcome before proposing that test to other clients. New technologies often require a bit of set-up and fine-tuning before services can be streamlined. Our team looks for opportunities to improve client and campaign performance and works diligently to understand the full capacity of new technology first-hand. Does this give us an advantage in designing campaigns for our clients? Yes. Yes, it does.