Half of marketers can’t trust at least one-fifth of the data used for media-buying decisions
It’s no secret that for years marketers have had increasing concerns about data transparency and where the data they are purchasing is actually coming from. It’s also no secret that even with these concerns, little has been done to regulate or improve data transparency. In fact, data transparency continues to be the largest factor in hurting the growth of programmatic advertising.
According to a recent survey highlighted in MediaPost around programmatic media buying, 32% of marketers cited data transparency as the largest factor preventing them from significantly increasing their media budgets.
Some other key findings from the survey:
- About half, 49% of marketers claim they can’t trust at least 20% of the data used for media buying decisions, and 16% claim they can’t trust at least 30%
- 3 out of 4 marketers are concerned about the lack of data transparency when it comes to programmatic advertising
- 3 out of 4 marketers claim they would increase their programmatic spend significantly (50% in some cases) if they had access to more transparent data
- According to marketers, 90% of the market lacks transparency around audience targeting, the majority of vendors simply cannot confirm that the audience segments they claim to provide match what they deliver
- More than half of marketers would leave their current vendor in favor of a more transparent vendor
“A lack of transparency breeds distrust for marketers and that stands out in these results, as half of brands distrust about one-fifth of their data. Transparency can help build trust between partners. These results indicate that bigger budgets would follow, with three-quarters of respondents saying they’d significantly increase budgets if they had more transparent access to data,” Mike Driscoll, CEO, Metamarkets, via Real-Time Daily
Want more transparent data? At ownerIQ, we are driven by the belief that marketers at retailers, brands and ALL company types should operate in a more transparent data economy. By building a thriving second-party data marketplace, ownerIQ aspires to make audience data more relevant and effective.
ownerIQ’s second-party data marketplace, the industry’s largest and most transparent, gives retailers, brands, and agencies complete control over who they want to target with their advertising while allowing data partners to approve and/or deny those requesting to target their audience. The makeup of every ownerIQ audience can be broken out so advertisers know exactly who is being targeted with their valuable ad dollars.
What is second-party data?
Second-party data is transparent access to a trusted and relevant partner’s first-party data. Second-party data assures a cooperative relationship that can be preexisting (a brand that already sells through a retailer) or entirely new (no clearly defined relationship…yet), creating a new means for advertising revenue and greater brand awareness, across both desktop and mobile.
With second-party data, you choose your data and know exactly the audience you’re reaching. It’s all about complete data transparency!
For more information on our transparent data marketplace reach out to your ownerIQ representative today or email us at email@example.com.
* Real-time Daily via MediaPost, ‘Study: Marketers Say Lack of Data Transparency Stunts Programmatic Growth’ by Tobi Elkin, May 1, 2017 https://www.mediapost.com/publications/article/300116/study-marketers-say-lack-of-data-transparency-stu.html
*Metamarkets, ‘Report: The Transparency Opportunity, Quantifying the Benefits of Trust’ https://metamarkets.com/white-paper-the-transparency-opportunity/