Audience 360: Unlocking More Value in Advertising and Media
Today, big data technologies enable advertising, media, and entertainment companies to access vast amounts of actionable information about their customers. This data includes demographic information, viewing habits, transaction history, social media behavior, customer service engagement, and more. When this information is collected into a holistic profile for each customer, it’s called audience 360.
Audience 360 provides a wealth of opportunities for advertising and media companies to more effectively reach and engage their customers. In this article, we’ll explore how it is being used to create personalized experiences, improve customer retention, and maximize advertising revenue. We’ll also examine the important role the modern data platform plays in creating individualized, data-rich subscriber profiles.
What Is Audience 360?
Audience 360 is a data-driven approach that draws subscriber data from numerous in-house and external sources to build a complete view of each individual subscriber. By analyzing subscriber data, advertising, media, and entertainment companies can build a unified profile for each subscriber that includes invaluable information about their preferences. These individualized profiles help companies tailor their offers and marketing messages to specific interests, behaviors, and needs, ultimately improving customer satisfaction and increasing revenue.
The Role of Audience 360 in Advertising, Media, and Entertainment
Audience 360 plays a key role in the success of advertising, media, and entertainment companies. Here are five high-value ways it’s being used.
Develop a deeper understanding of subscribers’ needs and wants
Audience 360 provides a complete view of your subscribers’ activity across different channels and touchpoints, including email, social media, website, and mobile apps. This holistic view enables marketers to develop a deeper understanding of their subscribers’ preferences, behaviors, and motivations so they can suggest new content that’s likely to appeal to the subscriber and craft offerings aligned with their preferences.
Improve subscriber engagement
With the insights from audience 360 in hand, teams can create highly customized communication strategies tailored to customers. Messaging aligned with a subscriber’s precise interests increases engagement and loyalty, as customers feel valued and understood.
Highly targeted, effective campaigns convert into sales at higher percentages than broad messaging. Additionally, providing personalized recommendations and offers can also increase the average purchase value and boost customer lifetime value.
Enhance customer service
Superior customer service experiences are rooted in data. With access to the customer’s complete history and contextual data, customer support personnel can help resolve issues more quickly and effectively. Providing a more personalized and empathetic customer experience ensures subscribers feel important and heard.
Increase subscriber retention
With an emphasis on individualized experiences, offers, and customer service, audience 360 can keep current subscribers more engaged, reducing the rate of attrition and marketing costs required to replace customers who cancel.
Read Subscriber Best Practices for Data Science to learn essential steps for effective subscriber segmentation, why model validation is vital, and what to look for in data integration tools.
How a Modern Data Platform Makes Subscriber Data More Accessible
Forward-thinking businesses are constantly seeking new ways to unlock the full value of their data. But the sheer volume and diversity of subscriber data makes it difficult to collect, manage, and analyze it effectively. Let’s explore how a modern data platform can help businesses make sense of their data and drive better outcomes.
Serves as a single source of truth for subscriber data
Data silos are a commonly encountered roadblock to achieving audience 360, which depends on bringing together data from websites, CRM systems, online streaming, ad platforms, social media, and more. Fragmentation typically results in using stale or incomplete data. A cloud data platform unifies this data into a single source of truth.
Supports a wide variety of data types
Today, subscriber data is generated from a plethora of sources in a variety of methods. For this reason, it’s crucial to have a platform that supports structured, semi-structured, and unstructured data.
Enriches in-house data with third-party data
Media and entertainment companies collect large amounts of data about their subscribers, but they can greatly benefit from enriching their existing data sets with third-party data to create more robust audience profiles. Third-party data may include information such as demographics, behavior, and viewership.
Leverages data clean rooms for secure, governed real-time analysis
A data clean room (DCR) provides a private, secure, and governed environment to match first-party data from a marketing organization to first-party data from a publisher or partner agency without revealing the underlying data itself. It allows organizations to define what types of queries are allowed, who can query, and what data can be queried. Measurement and attribution can be performed directly in the environment with technology providers to enable compliance with privacy requirements while understanding the outcome of marketing activations; for example, return on ad spend.
Built-in data security safeguards for sensitive and regulated data
With high-profile data breaches top-of-mind, customers value companies they can trust. Customers are demanding greater privacy and control over their own data and the assurance that companies have the technology to enforce data governance best practices. The regulatory environment is also shifting. Governments are imposing increasingly stringent regulations on companies that handle consumer data. A strong cloud data platform will offer robust data security features, including role-based access controls, data-level security, anonymization, and encryption to protect sensitive consumer data.
Build a Better Audience 360 with Snowflake
With the Snowflake Data Cloud, advertising, media, and entertainment companies can break down data silos and react to subscriber behavioral trends with timely campaigns that are personalized at the individual level. Snowflake enables querying and analyzing separate data sets in real time and in parallel, which allows teams to identify high-value customers and ensure they have an exceptional experience at every touchpoint.
Additionally, Snowflake’s compute resources reduce data latency, providing faster access and time to insight, with the ability to act on that insight immediately. Teams can confidently experiment and try new queries that may improve the effectiveness of audience 360 initiatives without fear of disrupting core activities.