Join the Party: Mobile Advertising
Research is crucial for any mobile advertising campaign with First, Second and Third Party Data.
Economic Times reports that "the mobile advertising industry is fast paced. In the course of a little over six years, we have watched the industry grow from a minor niche into one of the major advertising channels used by brands, businesses and developers across the world. Therefore, it is essential to remain ahead of the game in this fast paced industry. How though, do businesses do it? The answer is through their use of research and technology.
By analyzing three key categories of research data and using technology to enact the insights drawn from those in mobile advertising campaigns, businesses are able to stay ahead in this fast paced sector.To understand why this is the case, we need to consider the uses of research and technology individually before understanding how they work together.
Research is critically important for success in mobile advertising because it provides the basis for key campaign decisions. From determining audience type to analyzing overall market conditions, gathering researching key data ahead of, during and after a campaign is vital for successful cost effective spending. In particular, there are three types of data that marketers will need to research to give them a strong base for mobile advertising success.
There is first party data, which is the information a mobile company gains from its own users such as demographic data. There is second party data, which is data generated from a separate entity, such as the performance of a mobile advertising campaign and where users interacted with an advert (whether geographically, device wise or platform). And finally there is third party data, which examines the state of the market as a whole and provides guidance on potential routes for expansion.
The reason why this data is important to research is that, when used in harmony, these three data types should provide you the best basis for informed decisions. If you're using first party data to identify your best users, second party data to identify where to find them and third party data to determine the best ways to shape your message across the market, chances are you'll be more likely to run and execute mobile advertising campaigns that deliver greater performance. However, gathering, analyzing and enacting this data can be difficult to do successfully. The size of the mobile install base, which is nearly half of the world's population, is enormous. And even one small app running a mobile advertising campaign can generate an overwhelming number of data points to analyse.
This is why technology plays an important role in the success of research. Advancements in the technology that supports both the gathering of research and the operation of mobile advertising campaigns enables advertisers to make the most of their findings - helping them to succeed in the market. Examining our data types, it is clear that technology plays a big role in enabling its successful usage. First party data can be gathered via an in house solution, but the majority of developers have used external analytics providers to quantify, analyze and segment thousands, if not millions, of users in a meaningful way. Second party data gathering has been accelerated by the rise of programmatic, self-service advertising platforms that, in conjunction with an attribution provider, helps advertisers to effectively measure campaign performance. And the emergence of an enormous mobile market has powered the growth of third party data providers, meaning app developers have been able to turn to the likes of Nielsen, Newzoo and eMarketer for meaningful market research.
The result is a symbiotic relationship that makes research and technology natural partners for mobile advertising success. Smart implementation and usage of technology improves the data companies generate; better data enables smarter research to take place; better research improves the use of technology, thus feeding the cycle again. Therefore, companies using advertising need to feed this virtuous cycle to succeed in the business. By marrying together research and technology, companies can spot the opportunity that may help them use mobile advertising in a way that can make the fortunes of a company. And that is why the successful use of both is highly relevant to any mobile business."