What does "intent data" mean and what are the stumbling blocks in buying this data?
Editorial
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July 25, 2017
Buying intent data is based on user actions that suggest a genuine interest in buying: a product in the shopping basket, product and special interest searches or price comparisons. "Buying intent is a trend. 81% of all advertisers and agencies in Germany want to target marketing campaigns at users who are interested in buying in 2017. However, they complain about a lack of transparency and complexity in the data market. "The problem is: Not all intent is the same," warns Melanie Vogelbacher, Managing Director at digital data marketer Q division. "There are considerable differences in terms of quality, timeliness and other relevant criteria. Brands can easily make the wrong choice here." Marketers should consider these six criteria when buying third-party data:1. inventory independenceBuying intent data is available as a stand-alone data set or in combination with media inventory. If brands want to integrate the targeting data into a comprehensive brand or product campaign or incorporate the KPIs achieved into the global evaluation of all online activities in a meaningful way, the data-only offer is recommended. However, for advertisers who want to test the offer in isolation or book a time-limited campaign, offers with media are also suitable.2nd intent levelIntent levels show where the user is in the sales funnel. Is it data that suggests an interest in a product category, for example if the user receives insurance information to accompany a real estate purchase? Is it search intent in the form of a specific product search? Or is the purchase intention even more immediate, for example because the user has called up a product several times and already placed it in the shopping cart? Brands can address this: Branding campaigns are recommended at the beginning of the sales funnel, followed by performance campaigns later on.3. data up-to-datenessSuccessful targeting of buying interest stands and falls with the timeliness of the data. A purchase decision process rarely takes longer than 14 days. When buying, pay attention not only to the freshness of the data, but also to how it is documented: Do you receive user-specific time-stamp information? Or only segment-related information on data freshness?4. data origin and granularityBrands want to know on which websites their advertising is shown. They should show the same interest when it comes to the origin of the data used. Some marketers identify the source sites with clear names. The granularity of the data package must also be taken into account: Does a marketer deliver the data unqualified in a big bag? Does he bundle it in pre-filters such as "fashion-conscious women" without deeper insight for the brand? And does he pack them into comprehensible, individually optimizable segments depending on the data source and category?5. data qualityThe purer the intent data, the more successful the campaign. Does the provider clearly demonstrate the quality of the data? Some marketers fill their pool with statistical twins, socio-demographic data or interest data. In doing so, they dilute the data on offer.6. authorization for further utilizationBrands without direct sales that want to strengthen their own brand presence online find it particularly difficult to access their own data. They should clarify this: Are they allowed to combine campaign data with other data segments, for example their own data, or convert it into their own profiles as second-party data? Or is the use of data only permitted on a temporary basis? Melanie Vogelbacher, Managing Director, Q division: "Brands rightly criticize the opacity of many offers. Campaign performance stands or falls on the fact that I, as a marketer, know the data in detail. At the end of the day, the same applies to intent data as to medication: Read the package insert for risks and side effects and ask your marketer or data provider. Ask for the necessary information before buying any data."
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Buying intent data is based on user actions that suggest a genuine interest in buying: a product in the shopping basket, product and special interest searches or price comparisons. "Buying intent is a trend. 81% of all advertisers and agencies in Germany want to target marketing campaigns at users who are interested in buying in 2017. However, they complain about a lack of transparency and complexity in the data market. "The problem is: Not all intent is the same," warns Melanie Vogelbacher, Managing Director at digital data marketer Q division. "There are considerable differences in terms of quality, timeliness and other relevant criteria. Brands can easily make the wrong choice here." Marketers should consider these six criteria when buying third-party data:1. inventory independenceBuying intent data is available as a stand-alone data set or in combination with media inventory. If brands want to integrate the targeting data into a comprehensive brand or product campaign or incorporate the KPIs achieved into the global evaluation of all online activities in a meaningful way, the data-only offer is recommended. However, for advertisers who want to test the offer in isolation or book a time-limited campaign, offers with media are also suitable.2nd intent levelIntent levels show where the user is in the sales funnel. Is it data that suggests an interest in a product category, for example if the user receives insurance information to accompany a real estate purchase? Is it search intent in the form of a specific product search? Or is the purchase intention even more immediate, for example because the user has called up a product several times and already placed it in the shopping cart? Brands can address this: Branding campaigns are recommended at the beginning of the sales funnel, followed by performance campaigns later on.3. data up-to-datenessSuccessful targeting of buying interest stands and falls with the timeliness of the data. A purchase decision process rarely takes longer than 14 days. When buying, pay attention not only to the freshness of the data, but also to how it is documented: Do you receive user-specific time-stamp information? Or only segment-related information on data freshness?4. data origin and granularityBrands want to know on which websites their advertising is shown. They should show the same interest when it comes to the origin of the data used. Some marketers identify the source sites with clear names. The granularity of the data package must also be taken into account: Does a marketer deliver the data unqualified in a big bag? Does he bundle it in pre-filters such as "fashion-conscious women" without deeper insight for the brand? And does he pack them into comprehensible, individually optimizable segments depending on the data source and category?5. data qualityThe purer the intent data, the more successful the campaign. Does the provider clearly demonstrate the quality of the data? Some marketers fill their pool with statistical twins, socio-demographic data or interest data. In doing so, they dilute the data on offer.6. authorization for further utilizationBrands without direct sales that want to strengthen their own brand presence online find it particularly difficult to access their own data. They should clarify this: Are they allowed to combine campaign data with other data segments, for example their own data, or convert it into their own profiles as second-party data? Or is the use of data only permitted on a temporary basis? Melanie Vogelbacher, Managing Director, Q division: "Brands rightly criticize the opacity of many offers. Campaign performance stands or falls on the fact that I, as a marketer, know the data in detail. At the end of the day, the same applies to intent data as to medication: Read the package insert for risks and side effects and ask your marketer or data provider. Ask for the necessary information before buying any data."
