Behavioral Data and Advertisement
Friday, 07. 31. 2009 – Category: Enversa Companies
The general impression in the advertisement market and general blogosphere regarding behavioral data and its effect on reaching customer is that it is the impressions themselves and not the raw, factual data is the most important. It does, in fact, appear that this will be the new exchange model for advertisement companies interested in dominating the online display industry. Or at least, that is what the various number of ever increasing data collectors, organizers, and aggregators would have you believe in the behavioral data and advertisement argument. Some of the companies involved in this include Lotame, SocialMedia, as well as Media6Degrees.
The aim of these companies appears to lie in the desire to create a fluid market that depends on cookie-based anonymous behavioral data mining. This isn’t really anything that ground breaking or new, however. In fact, one could single out the previous attempts at companies like Tacoda who were part of the first generation of behavioral data marketing. That is to say, the entire affair is data-driven. The principle difference is that instead of dealing with impressions and data as a gigantic cluster of scaling problems, companies are now focusing only on the raw data, in an effort to apply whatever impressions they so desire.
The majority of marketers have admitted that they both use and plan on using behavioral data targeting and impression formation on customers, and even more have propounded at the efficiency of said methods. In fact, over twenty five percent of online marketing campaigns use this sort of behavioral data mining to secure a foothold in the wide and weird world of web advertisement. There still remains many different problems and challenges to surmount before the needs of consumers can be met in a relevant and unique way.
Marketers and advertisement companies and agencies still need to address the growing number of concerns over privacy issues and the standards companies hold with data sharing. In fact, one could easily argue that the issue of privacy and data standard controls is of the utmost importance not only to individual consumers and customers but to advertisers and marketing strategies in general. Customers will not be willing to buy products or use the services of companies that they do not inherently trust, and many of the players in the marketing world believe that this issue is being too lightly addressed. Instead of integrating the needs of the consumer with the excess products or services that a company has, companies are instead barraging consumers with a variety of annoying, useless, and largely irrelevant advertisements.
This is where the second generation of behavioral data marketing seeks to correct itself and learn from its mistakes. When dealing with only raw data, there are fewer mistakes to be made, and much more fluidity. Content relevant to your interests, products you want to buy – all of this can easily be at the finger tips of consumers through the new methods being espoused by the leaders, movers, and shakers of the advertisement world. Most can agree though, that privacy and security issues always have been and always will be an issue when dealing with this sort of data.
Marc Pickren is the President of Enversa- a performance-based marketing agency.
Tags: advertisers, behaviorial data marketing, data mining, Enversa Companies, Marc Pickren