PART ONE: The Basics
Choosing a consumer data partner can be a daunting task; the ecosystem is crowded, and it is often difficult to tell which provider has the best solution to meet your needs. In this three-part series, Mobilewalla outlines the critical questions to ask a potential consumer intelligence provider, starting with general company information, then methodologies, and finally, activation.
Getting a sense of the data provider as a company is important in order to understand where they fit in the broader data ecosystem, and how they might add value to your overall marketing strategy.
There are five key areas to initially focus on when evaluating a new data partner’s business.
1. Core Offering
What is their value proposition? Where do they fit in the ecosystem?
By answering this question, the potential partner will show where they will fit into your marketing strategy. You will discover if there will be overlap with any of your current data partners. Ask yourself, do their core offerings provide incremental value?
2. Data Collection
Where do they source their data? Do they source their own or use third parties? How do they segment audiences?
Transparency is incredibly important and it’s helpful to understand where companies get their data from. When you know how data is processed, you’ll have more clarity around your potential partner’s approach, value, and shortcomings. Additionally, you’ll learn how scalable their solution is, gaining insight into the possible reach of your campaigns.
Do they have domestic and/or global coverage? How many devices do they observe? What are their device counts by segment?
If you have global efforts, you can leverage one partner for both domestic and global initiatives. Scalability is similarly important; if they don't have scale on 1:1, do they model?
Who do they consider their top competitors, and why? How do they differentiate from these competitors?
Competitive intelligence will help you to differentiate your options. A data partner that has a buttoned-up solution will be happy to discuss the pros and cons of their competitors with you.
What is the legacy of the company and their products?
It’s always good to know how the company got started and how they have expanded. By understanding the evolution of the partner’s leadership, products, and financial standing, you’ll have a much richer picture of who you’ll be working with and their experience in the space.
Asking the right questions is critical when selecting a mobile partner. By inquiring as to the status of these more general operational areas, you better position yourself up to take a deeper dive into the core methodologies of your potential partner. The next post in this series will help you understand the methodology questions that are essential to navigating the data ecosystem.
Asking the right questions will help you to effectively evaluate potential consumer data providers to find a partner you can trust. Our Data Ecosystem Guide provides you with all the key questions you should ask; starting with general company information, then methodologies, and finally, activation.