Chart of the Day: Advertisers Say Audience Data Accuracy is Important. How Important?
When it comes to consumer data there is no denying the importance that it holds in advertising and marketing. For a business to really resonate with their target audience, the data they hold on them is how they can make meaningful content which holds ROI.
The importance of the data is varied from case to case and marketers decide where to place that importance. Quality of data is a big thing when it comes to acquiring audience data. However, it is not the only factor which goes into the decision process. This chart shows what importance is levied on these different factors
300 brand marketers were asked what they evaluate when purchasing user data. Interestingly, 73% of all respondents stated that they see cost as the main driving force. This is compared to only 66% seeing the quality of the data being important.
The accuracy of targeting came in 2nd with 67% of respondents seeing demographical targeting being key to gaining returns. It seems that the accuracy and cost then, in turn, means that a small data set which is accurate will sway pocket of a marketer.
We see the value of accuracy in cost far more than we see in segment sizes of the general quality of the data. If you get these two right you are far more like to see ROI than if you have a large dataset of good quality. Marketers don't want to hit all the people, they want to hit the right people and they don't want to shovel out for it.
This is something that is wise in an age where costs need to be kept down and targets need to be hit promptly and precisely.
> Source - Marketing Charts
> Sample - Survey of 300 US brand marketers who purchase and/or use audience data
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