Experian has made an impactful entrance into the third-party data onboarding sector with the launch of ‘Experian Third-Party Onboarding’. Incidentally, this invention has been shaped through a successful partnership with The Trade Desk and represents Experian’s first venture into this specific industry.
In essence, this new tool aims to directly correlate Experian’s physical customer data with online marketing identifiers, thus abandoning the requirement of a middle man. The result? Enhanced communication directness between Experian and its customers and improved efficiency in targeted marketing due to precise data mapping.
Experian, historically known for focusing on gathering offline data like residential addresses, had to use a third-party onboarder to connect this offline data with online identifiers. With this newly streamlined process, Experian can now directly tie to digital ID graphs, increasing the overall system efficiency and ensuring data collection and management reflects current advancements in technology.
Scott Kozub, VP of Product at Experian Marketing Services, enumerated the merits of this in-house onboarding.
Experian’s impactful third-party data tool
He emphasized its speediness, cost-effectiveness, and reduced probability for errors due to variance in third-party onboarder data. Moreover, he highlighted its user-friendly design and mentioned that it negates the necessity of superior technical skills for management.
The onboarding tool possesses an impressive feature that speeds up data updates from third-party vendors to Experian’s identity graphs. By linking with political data provider L2, Experian’s tool enables a more exhaustive and dynamic perception of individual behavior, transforming how campaigns devise advertising and recruitment strategies.
This strategic innovation comes at a time when the market trend gravitates towards adopting direct-hand offs of first-party data for third-party data onboarding. Understanding this trend could be a winning card for Experian. Offering a reliable in-house solution for data onboarding could not only help in reaching important decision-makers in advertising but also in transforming Experian into a more trusted brand in the industry.
In the long run, this pivot towards direct first-party data transfers is likely to positively influence Experian’s bottom line, supporting its overall business sustainability and possibly triggering expansion in the future.
