Why a Multifaceted Approach Is the Champion of Audience Buying
As the TV industry takes a deeper dive into audience buying, advertisers are enjoying the benefits of accessing targeted linear TV. Big data can cyclically inform marketing campaigns for years to come with these innovative new capabilities and prove a brand’s ROI. Making sure companies have the right information fueling their advertising is imperative to a campaign’s success. Here are the data pools that come together to create both reach and granular targeting in audience buying.
The Types of Data
Set-Top Box Data
The set-top box (STB) has compelling data that tunes advertisers into household viewing habits. These metrics offer crucial details on what people are watching on TV- and when they are watching it. Additional insights, such as anonymous subscriber information, audience insights, and household attributes allow marketing campaigns to use data on a household level to drive campaigns.
As far as connecting with potential clientele on a one-to-one basis, that’s where 1st-party data comes into play. It is comprised of a brand’s audience: customers, site visitors, and social media followers, for example. It allows marketers to use their own data about a customer—anything from online activity to location—to build a more precise picture of individuals within the audience. 1st-party data allows audience buying to be more person-centric rather than household-centric.
3rd-party data adds a welcome complement to 1st-party data for a variety of reasons: It provides a more holistic industry perspective on potential customers and it creates new segments for better audience targeting on a broader and deeper scale. It allows brands to target beyond their standard audience and include individuals who, for example, have a history of purchasing similar products. By placing 1st-party data side-by-side with 3rd-party data, marketers are empowered with critical insight, helping them to create more effective creative and media strategies.
Why Audience Buying is a Team Effort
With audience buying for TV, big data – like the ones explained above – are incredibly beneficial, but they can’t tell the whole story on their own. While 3rd-party data offers valuable insight, if it isn’t paired with 1st-party data, it can’t accurately reflect upon the needs and variables of a single company. Similarly, if brands use set-top box data alone, they could leave out customers due to inevitable biases and coverage gaps. Even 1st-party data can’t fuel the TV audience buying engine without the viewer behavior insights or industry perspective. But a combined approach that includes STB data, 1st- and 3rd-party data, helps brands make the most of their marketing strategy.
By using the right data, NYI’s Audience One empowers brands to optimize performance, deliver demonstrable ROI across mediums, and inform future campaign strategies – all with one simple media buy. For more information about how our audience buying services help marketers work smarter, contact us today to create an effective media plan that’s right for your brand.