Data Quality – Media Source Solutions

How to Get Your Advertising Advantage

How satisfied are you with the quality of the marketing data you currently license from your existing data provider? According to Lotame, US marketers spend $11.9 billion in third-party audience data year on year. Yet, only 20% of marketers are confident about the accuracy of the data they buy. That means that billions of dollars could be being spent each year on data which is considered inaccurate.

At the same time, more than 80% of marketers claim accuracy is the most important factor when buying audience data. If you count yourself as one of these marketers who prioritises data quality, what can you do to ensure the data that you’re using is indeed accurate?

Assessing the Quality of Your Provider’s Data

1. Understand Where The Data Is Sourced

Has the data provider you’re currently working with explained where they source their data from? This could be a great indication of how accurate their data is. For example, at Media Source Solutions, our data is sourced from form fills, registrations, brand signals, online engagements and email openers. In addition to this, we only work with privacy-compliant data that is opted-in to receive third party offers. If your data provider is reluctant to share details on the source of their data, this should ring some alarm bells and prompt some follow-up questions

2. Understand What Data Hygiene Processes Are Used

What steps does your current provider take to ensure data hygiene? Do they cross-validate their data to ensure its accuracy? How many sources do they use to verify their data? At Media Source Solutions, our data is validated with 5+ declared touch points per record for performance & quality assurance.

3. Understand Their Scale

What scale does the data provider you work with claim to offer? Do the numbers make sense? For example, if your current data provider claims to have far more data for US ophthalmologists than the American Medical Association estimates, the likelihood is that the data they are providing is not all that accurate. At Media Source Solutions, we are proud to offer extensive scale – for some segments 2-3 times the scale compared to other leading providers – but we will never claim to hold more data than we actually do.

Your Advertising Advantage

If your existing data provider doesn’t stand up to scrutiny, why not try our data for your next campaign? Our data is regularly evaluated and scored by TruthSet, an independent data evaluator, and they have found it to be amongst the most accurate of leading data providers. If you’re looking to target the elusive Generation Z, for example, our data was scored 56% more accurate than the industry standard, meaning more impressions within your target audience and overall a better performing campaign.

What’s more, our ethnicity data quality earned a badge from the ANA’s AIMM for transparency in multicultural marketing and we’re a member of the TAG registry, demonstrating our commitment to combatting fraudulent & criminal activity in digital advertising.

Using our data, you could have an advertising advantage over your competitors. Talk to us today to discuss your data needs.

Missing Your Data Targets?

How often do you find yourself in this situation?

You’ve planned your marketing campaign meticulously: selected your budget, marketing channels, campaign timing, messaging and offer with care, yet you still find yourself at the end of the campaign with a disappointing campaign performance and a much lower ROI than you expected.

Have you considered that the problem could lie in your marketing data?

How do you ensure the accuracy of data?

There are a number of factors which affect data accuracy. First and foremost is data recency – how recently the data you’re using has been updated. Have you ever run an email campaign with a high bounce back rate? The likelihood is you’ve been working with out-dated inaccurate data. There’s a much quoted stat which claims that up to 70% of a database can become stale within a year, especially in B2B CRMs where turnover is high. That’s why at Media Source Solutions we continuously update our audience segments.

Another factor is the reliability of your data source. You want to be working with data that has been verified for its accuracy. Here at Media Source Solutions, our data is sourced from purchases, intent signals, online engagements, self-reported data, registrations and form fills. Our multi-source approach is then followed up with verification across channels for multiple touch points to ensure optimal data hygiene and accuracy.

Going hand-in-hand with reliability is data validation. Does the data provider you work with have their data validated by a third party, independent data evaluator? At Media Source Solutions we have our consumer data validated by Truthset so that we when we claim our data is accurate we can be absolutely sure that is indeed the case!

How to Improve your Marketing ROI

In Truthset’s Q4 2020 report, Media Source Solutions performed extremely well in a variety of demographic categories, particularly for its age, ethnicity, income and location data. For example, if you’re looking to target males aged 18-24 for your marketing campaign, that particular Media Source Solutions segment was given a Truthset score of 195, meaning that according to Truthset we are 95% better than average at identifying people with those demographic attributes.

What does that mean in real terms for your ROI? If you were running a marketing campaign using data from other providers you might well find that you’d be reaching people outside of your target market who were either not eligible for your offer or not interested. With Media Source Solutions on the other hand, you’d be working with extremely accurate consumer data and would be 95% more likely to reach your ROI goal based on your data quality.

The Importance of Data Accuracy

We understand the importance of data accuracy in marketing campaigns and we want to ensure you do too! That’s why we’re putting our money where our mouth is and offering flat rate pricing or 50% discount on all segments for 90 days.

See your ROI increase before your eyes and hit your targets this year with our accurate data.

Learn more about our data accuracy >