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How Young Agency Media Buyers Can Win With Data Enrichment

By Alex Theriault, Chief Growth Officer

If you’re just starting your career as an agency media buyer, here’s a secret: Get really smart about data enrichment.

Why? Three reasons:

  • Data enrichment fuels better audience targeting.
  • It’s surprisingly easy to leverage enriched customer data.
  • Many media buyers overlook the power of third-party data enrichment.

A lot of campaigns start with Google Audiences as a base, and for good reason. Those audiences are free, they give advertisers a head start, and they can perform pretty well. But when you want to refine your audience targeting, that’s when you need to think about data enrichment solutions and how to get them right.

 

What Is Data Enrichment and Why Does It Matter?

Imagine you’re buying media for a manufacturer of nutrition bars. Your client probably has a little bit of first-party data, but really not that much. And even if you had access to all of that first-party data at your agency — and you almost never will — there’s still a lot you won’t know about that consumer. 

What you do know well tends to be pretty surface-level: OK sure, people who like nutrition bars probably like to work out. They probably like something healthy they can eat on the go. But you probably would have guessed that on your own. And even then, human beings are not one-dimensional: even the most fitness-minded people aren’t reading health content all day or watching workout videos on YouTube all day. So where do you get closer to understanding what they’re interested in and motivated by in order to find them outside of health content where all of your competitors are?

That’s exactly where data enrichment comes in. It enhances customer datasets by integrating more information from a variety of sources, including:

  • Behavioral data
  • Geographic and demographic data
  • Psychographics and lifestyle insights
  • Purchase intent signals

With third-party data enrichment, you can gain deeper insights beyond what’s obvious. Instead of relying on surface-level assumptions, you can uncover more detailed audience attributes, helping you craft more effective ad strategies.

How to Choose the Right Data Enrichment Strategy

At first glance, a lot of enrichment data sources you can buy look the same. So why not buy the cheapest data available and hope for the best?

That’s the way the average media buyer does it. But you’re not trying to be average. Instead, think like a data scientist:

  • Does the data provide enough depth and variety?
  • Is the information relevant and market-specific?
  • Are the enriched data attributes connected to the same IDs for activation across all media?

For example, if you use Lotame Data Exchange, you can start with over 5,000 pre-packaged audience segments covering demographics, behavioral, B2B, purchase intent and more — and they’re available globally. You can get more refined, with precision demographic and interest audiences. Or you can work with Lotame data specialists to create your own custom blends of first-, second- or third-party data across web, mobile, and TV.

Activating Data Enrichment in Your Media Plan

If the best audience data costs more than free (hint, wink), how do you know if it’s worth it?

The key is to focus on breadth and depth. The richer the audience data, the better it performs in:

  • Hyper-personalized messaging
  • Granular audience segmentation
  • More precise media buying decisions

A smart media plan fueled by weak data might perform OK. But a smart media plan fueled by smart data enrichment can reach new heights. It can perform better because it’s smarter to begin with.

Partnering With Data Experts for Better Enrichment

It’s smart to be a more savvy data buyer, but that doesn’t mean you have to do everything yourself. The real magic happens when you partner with experts in audience data enrichment. We’ve been at it for 18+ years at Lotame so we know a thing or two about data. 

The smartest media buyers we know usually bring us a brief. They talk with us about campaign goals, and we put together a custom audience solution—complete with pricing—within 24 hours. If you need a custom segment immediately, we can have it available in a brand’s platform of choice within 48 hours.

If you do data enrichment right, your bosses at the agency will notice — and so will your clients. You’ll deliver more granular personalization, sharper messaging, and reach out to customer segments that a less sophisticated approach won’t find. 

The smarter you are about data, the faster your career will grow. 

It’s easy when you have the right partners in place. And we can be that partner, all you have to do is reach out. 

By Alex Theriault, Chief Growth Officer