Using Audiences to Close the Gaps Across the Media Ecosystem

There’s never been a more critical time for brands to know who their customers and prospects are. And they’re aware of this, having invested heavily in recent years to make sure their first-party datasets are robust and include the information that’s most relevant for developing strategies that engage their key audiences. While this is a great first step in developing personalized relationships with consumers, it’s not enough.First-party data is powerful. That’s unquestionable. But it’s limited. Why? Because it only reflects how consumers engage with a brand. Said differently, it captures the engagement that only happens when a consumer is “with” the brand. It’s completely removed from how consumers behave when they aren’t engaging with the brand. For example, consumers visit banking websites when they need to perform a banking-related activity. But that interaction wouldn’t capture other things that are on the consumer’s mind. Perhaps the person is considering buying a car. Or maybe she wants to take golf lessons. Marketers absolutely need to keep tabs on how consumers are engaging with their brands. But they also need to know how they’re engaging with other brands, platforms and channels. That’s where second- and third-party data can help. When a brand complements its own first-party data with quality second- and third-party data, they have a much more enhanced understanding of the consumer. The brand begins to know who they are, where they are and what they’re engaging with—all of which can be used to create more well-rounded engagements at the point of engagement.Consider

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