Data makes the modern world go ‘round.
Back in the early days of humanity when data was nonexistent and non-sharable, people had to fend for themselves with a limited understanding of their surroundings. They had no data on which plants were edible and which were not; no knowledge of how to protect themselves against extreme temperatures.
Over time, cave drawings helped relay messages and warnings to others through storytelling, and thus, the first self-recorded data in human history came to be. Eventually, cave drawings became alphabets, handwriting was facilitated by the printing press, and live theater gave way to television. Then came the digital revolution, which combined all of these media types and placed them on a stylish little screen you could keep in your pocket.
Just as communication has evolved, data collection has evolved with it. As human beings become more sophisticated, so too do our ways of gathering and sharing information.
Putting Data to Use in Digital Advertising
For a lot of industries, modern data is hard to interpret. There are trillions upon trillions of data points available for perusing, but they serve little purpose if you don’t know how to ask the right questions to put them to use. Luckily for advertisers, companies like Yashi make data accessible, actionable, and easy to understand.
On Yashi’s platform, advertisers can use data to implement audience buying in their digital ad campaigns. Rather than broadcasting a message to a largely unknown group of people, digital advertising allows companies to focus on the people who are most likely to resonate with their products or services. This is called behavioral targeting, and there are 3 main sources that make it possible: first party, second party, and third party data.
What is first party data?
First party data is information that a company collects directly from their owned and operated properties like websites, apps, and offline customer data. This can include personal information that the user provides (name, email, address), demographics (gender, age, race), and behavioral data (purchases, site interactions, interests). This data is aggregated and turned into targetable segments through a Data Management Platform (DMP).
• Targeting customers whose leases or subscriptions will expire in 6 months or less
• Targeting customers who have racked up 1000 rewards points in a year
• Targeting customers who have purchased something from your online store in the past 30 days
What is second party data?
Second party data is similar to first party data in that one company is collecting direct data from their own customer base. However, it differs in the fact that second party data requires the first party company to share that information directly with another company. This often happens through a trade or a purchase of the data.
• US Tourism Boards can target people who have traveled via commercial airline in the past 12 months.
• Auto repair shops can target people who have bought trucks in the past 12 months
What is third party data?
Third party data is information that is gathered by a company that is not directly involved in the ad buying transaction. This data is aggregated by companies who track internet interactions across the web to give deeper insight into an audience. This data is thorough but anonymized, meaning it will never be tied to a person’s name or address. Third party is the most commonly used data on the Yashi platform, with over 20,000 segments to choose from.
• Colleges can target men and women aged 18-34 who have graduated high school
• Luxury fashion brands can target women with a HHI of $250K or higher who shop frequently
• Healthy snack food companies can target soccer moms and stay-at-home dads with 1 or more children
Data segments can be used independently, or layered on top of one another to create an even more specific audience. Aside from behavioral targeting, Yashi’s platform also gives advertisers the ability to control their ad serving by targeting by location, device, time of day, and even weather. There’s a customizable solution for every business goal.
To see how data can empower your digital campaigns, contact us to set up a demo today.