Videology, a leading software provider for converged TV and video advertising solutions, today released the latest installment of its educational ‘Knowledge Labs’ series. In this latest installment, Videology explores the rapidly expanding sector of first-party ad data and how marketers are successfully employing it in their TV and video strategies.
The lab shows that the percentage of campaigns utilizing first-party data segments in the Videology platform has increased from 5% in 2015, to 11% in 2017 year to date.
First-party data is information collected by a company about their customers or website visitors. As the lab explains, this information can provide a myriad of opportunities for digital marketers looking to reach customers and prospects with targeted, tailored messaging. The piece also explores both the benefits and challenges of using first-party data, advertisers’ perceptions about using it, as well as creative ways to apply it.
For this Knowledge Lab, Videology worked with Advertiser Perceptions to survey advertisers and marketers on how they work with first-party data. Key findings from this new study (Ad Perceptions, July 2017) revealed the following:
Advertisers are Embracing First-Party Data
– 69% of digital advertisers say they use their first-party data for media planning or buying, while 61% say they use it to develop insights about their customers, and about half use it to maintain customer relationships.
– All of the respondents surveyed are using first-party data most often to retarget existing customers, however, more than half are also using it to measure the effectiveness of a media campaign or to tailor messaging based on past behaviors.
While Advertisers are Using First-Party Data, Challenges Exist
– The biggest challenge advertisers and marketers face when using first-party data is ensuring its accuracy, and finding a way to apply it consistently across screens or media properties.
– Of those surveyed, nearly 30% of respondents say it is difficult to activate first-party data.
“Utilizing first-party data in digital video planning has been in practice for quite some time, however, through new advances marketers are now able to use first-party data for TV planning as well,” said Aleck Schleider, SVP, Client & Data Strategy, Videology. “Advertisers using Videology’s platform to activate against their data are seeing strong results across the board, which is driving the increased usage and expanded applications. In fact, I think we’ve only scratched the surface in terms of first-party data activation, and I believe it will become a core part of most TV and video advertisers’ overall data strategies moving forward.”