While consumers are getting wary about how location data is stored and used, Andrew Darling argues that it is now the most vital thing that advertisers have access to and really need to understand its power.
The digital advertising landscape had rapidly changed over the last few years. Not long ago, targeting in digital had its limitations – it was based on content behaviour, search and cookie data and that’s all there was. Today, that data environment is booming with vast and varied data sets providing all sorts of deeper consumer audience insight and contextual user information.
As technology advances, people change with it. According to Forrester’s Report: Untangle the Mobile Advertising Vendor Landscape, published last December, 81 percent of U.S. online adults with smartphones, access the internet through their mobile device at least once a day. It has become more important than ever for advertisers to reach their target audience, on-the-move, in real-world locations.
To do this, richer, multi-layered sets of data are required to provide information on location, history, demographics and other information sources that enable advertisers to serve the right ad, to the right audience, at the right time.
Similar people go to similar places and are likely to have similar attitudes to specific advertisements. To achieve smart insights, it is important to gather the right information. Location data is very powerful once refined – it is crucial in understanding, segmenting, contextualising, and predicting customer behaviour. But agency adtech partners must know how to process this raw data to transform it into relevant, ‘smart’ information.
Accurate data = smarter media buying
Raw location data is known to have the downside of being inaccurate. Proximity, or stated location, based on GPS Lat/Long coordinates provided by ad exchanges and publishers can differ greatly from a user’s actual physical location. Sometimes by a few feet and sometimes by tens of miles!
Some companies like BlisMedia, only look at GPS lat/long data coming across the platform from publishers and its analysis shows up to 90 percent of this data is inaccurate or false! This is an industry-wide problem and everyone has different approaches to dealing with it but it’s worth bearing in mind that those adtech providers that haven’t built their own proprietary tech platforms will not be delivering a high quality data product. Blis eliminates all GPS lat/long data that doesn’t have at least 4 decimal points (within 10 metres of a specific location) to ensure only the highest quality publisher location data informs buying decisions.
In order to understand an adtech provider’s core capabilities, marketers must find out how their mobile and tech capabilities were built. There are numerous providers that specialise in desktop that have moved into mobile. But their multiplication has made it difficult for marketers to understand who offers what, and select the best vendor for their mobile marketing campaigns.
While many providers have transitioned into mobile by simply adding mobile inventory rather than mobile-optimising their services, other providers have ‘emerged’, by being built from the ground up, mobile-first.
Those adtech companies that have their own mobile-specific technology, allow them to offer the best-in-class algorithms for targeting and tracking. Using device recognition augmentation methods, such as device usage profiles, geo location clustering, cross-device/screen analytics or ID linkage, improves digital marketing programs.
While every location data provider has its own way of filtering out the ‘bad’ data as previously mentioned, BlisMedia uses specific algorithms that, based on six stages of verification, pin-point only data that is strictly useful and eliminates up to 90 percent of the data, making it hyper relevant.
Data = emotional response
BlisMedia has a vast pool of first party data since we have been around for a long time and our location history database is unique in the industry. Our exclusive UK partnerships with major Wi-Fi providers O2 and Sky enhance our ability to process and analyse data. And we’re building out these ISP partnerships in SEA and Australasia now along with other geo-demographic data provider partnerships.
The mobile environment is expanding fast. Brands are increasingly looking at new ways of reaching their customers and communicating in the most personalised way possible. Data is how Blis develops a multi-dimensional view of the customers that brands are looking to connect with emotionally. What we know about these customers can tell us a lot about how they’re likely to respond to the advertising that drives this emotional connection and enables us to create campaigns that are more precise, less wasteful and more relevant to the individual.