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Low-quality data can come in different forms like inconsistent or outdated information – think demographics (age, gender) and interests (dog versus cat lover) or simply the wrong relationship can be made between datasets.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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Are Traasdahl, CEO and founder of Tapad, the leader in cross-device marketing technology and now a part of Experian, has been named Founder of the Year by the Global Startup Awards. The Global Startup Awards' Founder of the Year Award recognizes an individual that has pushed the boundaries of technology to empower new innovations and ideas. The Global Startup Awards places each year's regional category winners against each other to determine whose achievements stand out from the rest of the startup ecosystem through nomination, voting and jury evaluation. In May 2016, the Nordic Startup Awards named Traasdahl Founder of the Year. "Are is a force of nature and his creativity and passion know no boundaries, it seems," said George Tilesch, Global Startup Awards juror and U.S. managing partner of Innomine Group. "Extra kudos for the mentoring work and the Norwegian superfund plans. Are knows giving back is of the utmost importance." "Are is a superstar within the Norwegian startup ecosystem," said Kim Balle, founding partner and CEO of the Global Startup Awards. "From the jury feedback I could see that not only are his impressive achievements the reason for their rating, but also his focus and ability to give back to the startup scene played an important factor in him winning the category." "It is an enormous honor to be named Founder of the Year by the Global Startup Awards," said Traasdahl. "I am so committed to fostering entrepreneurship both at Tapad and throughout the startup space. This win is a remarkable bookend for a stellar year that began with our acquisition by the Telenor Group and continued with best-in-class product innovation, superior solutions for our clients and our Propeller Program that is so dear to my heart." Tapad's Propeller Program hosts five early-stage companies at Tapad's New York headquarters for one year to mentor them through global expansion. The participants of this inaugural program come from Traasdahl's native Norway. For more information on the Global Startup Awards, please visit: http://www.globalstartupawards.com/#gsa. Contact us today!
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NEW YORK, Nov. 29, 2016 /PRNewswire/ — For the second consecutive year, Tapad, part of Experian, has been listed among Deloitte's Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America. Tapad, number 147 on the 2016 Deloitte list, is the leading provider of unified, cross-device marketing technology solutions. "It is an honor to once again be recognized by Deloitte for our growth and momentum, particularly given the stature of the other technology companies on the list," said Are Traasdahl, founder and CEO of Tapad. "Our product innovation, particularly in TV analytics and measurement, is a major contributor to our progress. I'm extremely proud of our hard-working, talented team for continually executing at such a high level." "Today, when every organization can be a tech company, the most effective businesses not only foster the courage to explore change, but also encourage creativity in using and applying existing assets in new ways, as resourcefully as possible," said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications industry leader. "This ingenious approach to innovation calls for the encouragement of curiosity and collaboration both within and outside the office walls." "This year's Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead," added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. "Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors." Contact us today