In this edition of Mobile Monday, we’re taking a look at how brands are making sense of audience data and looking ahead to a webinar on making the most out of mobile video advertising.
Delving for Data
Recently, the IAB Data Center of Excellence published a study in conjunction with Data & Marketing Automation that explores how companies are using data in their marketing & advertising initiatives. Titled “The State of Data 2017“, the study found that US companies will spend slightly more on solutions meant to utilize & make sense of their audience data ($10.13 billion USD) than the data itself ($10.05 billion USD).
Interestingly enough, far more is spent processing ($4.3B) and managing ($4.2B) data than using it to drive analytical modeling & segmentation of audiences ($1.6B). Nevertheless, this expenditure discrepancy is hardly a negative indicator regarding the importance of audience segmentation. On the contrary, the study suggests that this leg of the process is more typically done in house or by trusted advertising partners who bundle the cost of audience targeting into the paid media itself.
Why is this? According to recently published guide for evaluating the quality of audience data by Ratko Vidakovic of Marketing Land, it comes down to quality. The guide praises first and second party solutions over third party providers, and Vidakovic describes the advertiser & publisher relationship as being “close to first-party data in terms of quality”, provided that there is ample transparency.
An Adobe study of over 300 marketers also yielded similar results: only 9% of respondents could justify the cost of third party data over other sources, and only 5% felt it provided the highest increase to customer lifetime value. Simply put, advertisers have more luck making sense of their audiences when they use first party (74%) and second party (18%) data, and these methods provide the best lift (62% and 30% respectively).
Pressing Play on Video Ads
Later this week, Marin Software is hosting a webinar that will provide best practices for marketers looking to maximize the effectiveness of their video advertising campaigns. The webinar will cover what the latest findings from recent comScore and Cisco studies mean for advertisers in 2018.
Speakers will also share tips for incorporating video into existing campaigns, which video formats and creative executions drive the best return on ad spend, and how the power of sight, sound, & motion can outperform static units. The webinar is slated for 10am PST on Thursday, December 14th.
About AdColony Mobile Mondays
Mobile Monday examines the latest news, trends, and developments in mobile apps, tech, and advertising. Do you have a story to share for the next Mobile Monday? Tweet it to @AdColony. For the latest AdColony mobile news and updates, follow @AdColony on Twitter, like us on Facebook, or connect on Linkedin.