Experian has announced the launch of a new service called Experian Third-Party Onboarding. This exciting development aims to integrate offline and online consumer data for advertising purposes, doing away with the need for third-party facilitation.
By combining offline and online data, the process of advertising becomes more streamlined. The removal of a third party bolsters efficiency and offers more consistency in consumer targeting. This shift in strategy by Experian demonstrates the company’s commitment to a more unified approach to managing consumer data.
Carrying the initiative forward is a diverse team of industry collaborators, including Experian’s own VP of Product at Experian Marketing Services, Scott Kozub. In a recent announcement, Kozub highlighted the project’s mission to tackle current marketing challenges and drive progress in marketing services.
Several corporations, such as Samsung, DirecTV, and NBCUniversal, plan to use Experian’s datasets, thereby eliminating the need for separate third-party onboarding. In partnering with Experian and The Trade Desk, these companies aim to enhance their customer engagement, audience targeting, and overall marketing efficiency.
Experian’s service bridges offline and online data
This strategy could potentially fuel business growth and optimize resource expenditures.
The new service offers various advantages like improved effectiveness, increased addressability, and cost savings. As Experian takes over data onboarding, issues, like ID mismatches that could lead to data degradation, are likely to reduce. Moreover, the service ensures a more accurate targeted advertising process, which might result in further cost savings.
A critical aspect of the service is the swift updating of third-party data into Experian’s unique identity graph. In preparation, Experian allied with political data vendor L2, allowing them to combine voter information with Experian’s household data. This update is particularly useful for political campaigners who need quick data processing because of shifting voting patterns.
The adoption of this service reflects a broader industry trend where third-party data markets are on a decline. Meanwhile, advertisers are increasingly leaning on first-party data. As the significance of traditional data sources wanes, Experian’s move to effectively utilize offline data in online and Connected TV advertising platforms might be a transformative step in the industry.
In a marketing world primarily driven by data, offline data might act as the sturdy framework that offers valuable consumer insights, ultimately leading to better targeting and sizable ROI.
