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How to Get New Audience Performance From An Old Advertising Tactic

by Michael McNulty, November 10, 2020

The data landscape is becoming more restrictive, and today’s advertisers are increasingly limited in their ability to leverage first-party data to reach people who are most likely to respond to their products or services. 

To overcome some of the challenges you’re facing with changes in privacy policies and the phase-out of the third-party cookie, you need an efficient and less complicated way of understanding how to activate the right data sources—across all verticals—in a way that steadily grows and strengthens your customer base.

The data challenge of finding new customers

Look-alike modelling has been a commonly used audience-building tactic for a long time. Advertisers create a “seed” consumer audience and then identify key traits and characteristics among a target group that can then be used to identify and reach new audiences. 

The challenge with this type of modelling comes down to data. Prior to Google announcing plans to eliminate third-party cookie tracking in Chrome, which accounts for 70% of the desktop browser market, look-alike modelling enabled advertisers to build seed segments of their existing customers through a range of first-party and third-party data sources. But this tactic lacked transparency of data scale and accuracy. Data sets weren’t updated regularly enough to maximize new customer discovery, and activation and onboarding was costly and time-consuming. 

Why you should reconsider look-alike modelling

As the advertising community lessens our dependence on third-party data and shifts focus to first-party data sources, many advertisers are now revisiting this solution because it enables them to more efficiently onboard and activate their first-party data across a number of disparate sources and use that data pool to match behavioral attributes. They can more easily create seed audiences using a smaller sample size without affecting scalability, and they can optimize and amplify these audiences by choosing specific attributes with greater accuracy using real-time data that is dynamically updated.

Only converged solutions can solve first-party data challenges

Amobee’s Look-alike Audiences solution is a simple and streamlined way for marketers to access and activate their own first-party data, regardless of the source, and to use that data to discover new audiences based on the ideal traits and behaviors of their best customers. Look-alike Audiences removes the complexity of navigating the data marketplace and provides advertisers with a scalable alternative to standard, third-party look-alike solutions in-market, and it can be used across many different verticals, including social.

Who benefits most from Amobee Look-alike Audiences?

Amobee’s Look-alike solution is perfect for small to medium-size businesses wanting to activate their first-party data to increase the effectiveness of targeting tactics that complement upper funnel and prospecting strategies. For larger advertisers, Amobee provides the ability to efficiently onboard all of their first-party data, whether it’s from a third-party DMP, campaign-level data CRM, or any other source.

First steps to getting started with a more stable data solution 

  • Take the time to understand the basic data marketplace and what you want to achieve by taking a more active role in leveraging first-party data. 
  • Identify and evaluate all of your first-party data sources and the quality of this data. 
  • Understand how you’re currently leveraging data to enrich audience extension. For example, have you onboarded this data before?   
  • Review current prospecting and upper funnel strategies and the supporting tactics that are being deployed. 
  • What does that growth look like month-over-month, year-over-year?

Aggregate rich, insightful data to grow your business

Amobee believes all advertisers should be able to access and activate all their first-party data to the fullest potential, regardless of the size of a business or the source where that data resides. Contact solutions@amobee.com for a walkthrough of how Amobee 1st Party Look-alike Audiences can help you in the creation and activation of powerful look-alike segments available directly in the Amobee Advertising Platform.

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