Experian received top ranks for hashed emails (HEMs) and demographic data from Truthset Data Collective
Advertisers, technology partners, and agencies are all chasing accurate data to power their marketing strategies. Turns out, not all data is created equal and unless you’re working with the right partner, high-quality data can be hard to find. That’s because accuracy can vary widely across the industry and the partner you choose is important. A recent study conducted by data validation company Truthset showed that 51% of the data used for ad targeting and audience measurement is wrong, with average accuracy rates ranging between 32%-69% across data providers.
The data quality challenge
The lack of high-quality data poses multiple challenges in the advertising world:
- Wasted ad spend: without accurate data at the start, marketers can’t reach the right audiences, resulting in wasted impressions.
- Privacy and compliance: in an increasingly privacy-centric world, advertisers need to be especially mindful of accurate targeting to avoid putting their brand reputation at risk.
- Poor campaign performance: low-quality data skews metrics and attribution models, making it difficult to measure campaign success and optimize spend.
Low-quality data can come in different forms like inconsistent or outdated information – think demographics (age, gender) and interests (dog versus cat lover) or simply the wrong relationship can be made between datasets. Data records can be incomplete or duplicative and data segments could be misclassified or inaccurate. For example, a kids snack food company may think they’re targeting a 35-year old man, who lives in the suburbs with his young family when in fact it’s a 65-year-old woman who moved to the city after her kids went to college. It’s wasted dollars!
Build the data foundation
Data quality needs to be addressed if advertisers and advertising technology partners want to fulfill consumers’ demand for personalized marketing. Per eMarketer, more than 75% of internet users worldwide said they were willing to share their email address, brand interest, and name in exchange for personalized experiences. Without accurate data, marketers won’t be able to provide the level of personalization that consumers desire.
Validation can help advertisers evaluate third party data and help build trust across the ecosystem. Companies like Truthset review and provide an unbiased evaluation of data fidelity and quality on a regular basis.
“As cookies and mobile ad identifiers continue to phase out, consented, durable identifiers (hashed email, postal addresses) are going to serve as the foundation for identity solutions of the future,” said Chip Russo, President at Truthset. “And the only way to ensure you are transacting on the highest quality identity and demography data is to actively validate the data you rely on with a third party.”
Not all data is created equal: Experian leads the way
In Q3 2023 Truthset reviewed Experian’s marketing data – as well as several other large data providers – and found:
- Experian is the #1 data provider in terms of largest volume of high-accuracy hashed e-mails (HEMs) with demographic data
- Experian ranks #1 in accuracy for 15 marketing data attributes, including but not limited to Age, Gender, Home Owner/Renter, Geography, Education, Presence of Children, and Pet Owner
- Experian consistently has the largest number of HEMs with demographic data that are 90% or more likely to be accurate
“As a member of the Truthset Data Collective, Experian received top ranks across a variety of categories for its data,” continued Russo. “The entire digital advertising world runs on data, but focusing on data accuracy is going to drive the next phase of innovation for the industry, enhancing ROI for advertisers, CPMs for publishers, and relevant experiences for consumers.”
As Truthset’s recent study highlights, the data matched between hashed e-mails and postal addresses is crucial, underpinning everything from targeted ads to TV audience measurement. Highly accurate HEMs linked to high-quality demographic data should be the foundation of any marketing plan. Advertisers are able to overcome the complexities of identity resolution by tying online and offline touchpoints together to deliver a consistent message across channels.
Companies are striving to eliminate marketing waste and provide consumers with personalized marketing and the advertising industry can have confidence that Experian’s marketing data has been externally validated as being highly accurate. The accuracy of our data will power smarter marketing initiatives, like insights, targeting, identity, and measurement.
Let’s start a conversation about how we can fully realize the potential of data-driven advertising together.
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Magnite and Experian have formed a strategic integration to enhance cross-device audience targeting in the advertising industry. Magnite, the largest independent sell-side platform, and Experian, a leader in consumer data and identity solutions, aim to optimize advertising capabilities by activating Experian's Consumer View in Magnite Access, an omnichannel audience product suite. This marks one of Experian’s first forays into a direct sell-side integration, a crucial step for the cookieless era. This collaboration offers targeting and efficiency across digital channels, providing advertisers and agencies with a more effective way to reach consumers. With Experian's robust deterministic offline data, generated from consumer purchase activity, enriched with insights on over 250 million U.S. consumers and 126 million U.S. households, advertisers can look forward to a new benchmark in targeted advertising available through Magnite Access. Thriving in a cookieless world With the looming deprecation of third-party cookies, audience, and identity solutions using first-party data are shifting to the sell-side. To that end, Magnite developed Magnite Access, a suite of omnichannel audience products that make it easier for media owners and their advertising partners to maximize the value of their first-party data assets. Access is adept at thriving in a post-cookie world through its effective utilization of sell-side first-party data, including within Magnite Streaming and SpringServe. Magnite Access’ deterministic and probabilistic tools provide sellers and buyers with a comprehensive solution to leverage their first-party data for audience targeting and insights. Experian's solutions are built to work efficiently in offline environments, making them well-equipped to thrive in a cookieless world. Brands can benefit from Experian's deep integrations within the ecosystem, providing data and audience solutions designed to perform in cookieless environments. "We're excited about the collaborative approach between Magnite and Experian. This off-the-shelf integration of Experian's syndicated audiences and the streamlined ability to receive custom audiences will provide a more accurate and cohesive consumer view, allowing us to reach our target audience and enhance campaign performance seamlessly."sam bloom, ceo, camelot Reach and impact As companies continue to rely on data-driven insights to make smarter, more efficient business decisions, partnerships between leading data and technology providers are becoming increasingly valuable. "Integrating with Magnite allows us to translate our extensive offline and online data into actionable, intelligent solutions for making smarter, more efficient business decisions. With Magnite's expertise in the omnichannel sell-side environment, this partnership is poised to empower businesses with the tools they need to succeed in today's data-driven landscape."chris feo, svp, sales & partnerships, experian Strengthening foundations within streaming Magnite's cutting-edge streaming solutions, integrated with Experian's robust data, facilitate a connection between data and inventory, providing enhanced targeting capabilities and consumer insights. "By integrating Experian's Consumer View capabilities into our platform, we are enabling advertisers to unlock improved targeting capabilities while benefiting from Experian's wealth of consumer insights. Our collaboration with Experian amplifies the value of our streaming solutions and enhances the overall advertising ecosystem by seamlessly connecting data, identity, and inventory."kristen williams, svp, strategic partnerships, magnite Precision and innovation: A new advertising era The synergistic partnership between Magnite and Experian is paving the way for a new era in advertising, offering targeting efficiency across digital channels. This collaboration is not merely a confluence of technologies but a testament to both companies' relentless pursuit of excellence in creating a consumer-conscious advertising ecosystem. By harnessing the wealth of consumer insights and integrating state-of-the-art technologies, Magnite and Experian are contributing to shaping the future of advertising, emphasizing accuracy and efficiency. It's a revolutionary stride toward understanding and reaching the consumer in more meaningful and impactful ways, setting new benchmarks in the advertising world. In a rapidly evolving digital landscape, this collaboration stands as a beacon, guiding brands toward intelligent, informed, and innovative advertising solutions, redefining the possibilities in targeted advertising and audience solutions. Connect with us to learn more about how you can access Experian’s Consumer View data solutions in Magnite Access. To learn more about our partner Magnite, visit their website. Latest posts
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