Last month, we hosted our eighth SpotX Explains it All event in LA. SpotX Explains it All brings a panel of experts and the Ad Tech community together to dig into our industry’s most pressing topics. When we were in LA, we had the chance to talk with industry leaders — like Adelphic, Tastemade, VaynerMedia, Pluto, and Vudu — about the complex landscape of quality, connected data and how to better leverage data as an asset and an insight to optimize video campaign performance.
In today’s digital world, data is abundant and highly valuable. According to the IAB, American companies spent nearly $19 billion on audience data and solutions to manage, process, and analyze that data in 2018 alone. However, in an increasingly fragmented media ecosystem, connecting customer data is a challenging task. With customers using multiple devices every day, households blurring lines between devices, and the multitude of entities who collect and store data in different locations, cracking the code on connected data is a conversation that’s very top of mind.
One solution to connecting this fragmented media ecosystem includes the unification of audience segments to produce higher quality data, which was the main topic at our LA event. A few of the key trends and best practices we touched on during the event included:
Unified IDs – Allow the mapping of different cookies to a single user. Today, everyone in the industry uses their own ID to identify a user; this process requires hundreds of ad tech platforms to sync with one another which slows down page loads, drives up costs, and lowers match rates. New solutions like The Trade Desk’s Unified ID solve for this problem by standardizing IDs, allowing for faster and more accurate integrations with tech platforms.
Publisher Provided IDs – An identifier that provides a single view of an individual user across multiple devices without duplication. Publisher Provided IDs enhance data quality by leveraging deterministic data — data that is verified and true, based on past or current actions — rather than probabilistic data — data that is more generalized and leverages proxy models as opposed to verified behavior.
Identity Graphs and Household Identity Graphs – These tie a single user to multiple devices. This can be done at the individual level or household level by using an IP address for location validation. Identity Graphs, such as LiveRamp’s, improve targeting efficiencies and reduce duplication by unifying people in the household and taking co-viewing into consideration.
Using Data as an Asset – By leveraging audience segments to support precision targeting, data can be used as an asset that helps optimize campaign budgets.
Using Data as an Insight – By using data to learn more about the potential outcome of a campaign before it’s even launched, insights can be used in the early planning phases to create a competitive advantage. Building plans against segments, indexing against segments, and pre-filtering supply to determine which publishers are the best match ensure you’re spending budget on the inventory that will yield the most results.
Our panelists, like Tastemade, Vudu, Adelphic, and VaynerMedia, have found creative ways to use data as an asset and insight to inform and optimize their video campaigns. The more versed our industry is in connecting data and turning it into quality inputs, the more able we are to create value, relevance, and more meaningful media landscapes for our customers.
To stay close to industry topics, like the ones discussed at last month’s SpotX Explains it All, subscribe to our newsletter and keep an eye out for upcoming events near you by following SpotX Events. To learn more about data enablement and how to apply it to your business, check out our free course at SpotX University today.
This article was written by Bethany Lechner, product marketing manager at SpotX