No such thing as Strong and Stable data
Tags: Marketing Strategies, Marketing, Data, Analytics

Data is now at the centre of so much that we do. For organisations across the board, data is the main asset. It is how they consider investment programmes, design marketing strategies and then review and refine. However, are we letting data be our primary driver or does it remain a part of the mix? Are there any lessons we can learn for marketing?

In the United Kingdom, we have just seen one of the most high-profile failures of data usage — the June 2017 General Election. This was a campaign where it appears that none of the main parties saw the result coming and neither did the polling companies (except YouGov). Following 2015, there was a much talked about data analysis based Social Media advertising campaign that helped deliver a Conservative Party majority that no one had expected.

In 2017, that same data operation was expected to be key to delivering an increased majority. The Labour Party’s in house pollster even produced a poll on the eve of the election saying that the Conservatives would win by 13%. In fact, they won by 2.4% and lost their majority.

So, much as the polling pointed towards a Clinton win in 2015 and a Conservative win in 2017, this did not happen — the question is why.

Are your data sources complete?

Well, here is the first problem. It appears that none of the political parties had complete data about who was intending to vote and how they were going to vote. Therefore, their retargeting efforts were focused only on those who they knew would vote and we have evidence through monitoring of social media channels. Labour were very unfocused in their get out the vote strategy and the Conservatives did not see what has happening in constituencies they expected to hold.

We do know that YouGov predicted this with their new model. They did find the data needed to more accurately model the outcome.

Some even laughed at YouGov’s projections. The problem was these were people involved in one of the campaigns. They did not know what was coming.

Where do you get your data?

Political parties obviously need to find innovative ways to look for the right data sources to make the most informed choices.

For marketers, much of our data now comes from the platforms we buy through. When they make mistakes, we are basing our decision making on incorrect information. There have been hi-profile cases including Facebook video views and continual metric issues. Twitter have had issues and even Google Analytics has seen problems. In some cases, you can now have third party verification of the data you are receiving. Make sure you use that.

What is important is to look at all your data, run comparisons and look for discrepancies or anything that does not appear right. Make sure you check that it makes sense and then look to stress test that with new data series:

Look at how you came across the data you hold on your targets. Can you discern patterns in them that will allow you to expand your reach to similar personas? More data can drive more results and give your insight into any issues with your current data.

Think tangentially. Look at sampling new data in segments that you do not normally look at.

Look to randomly sample new data that you may not have previously considered.

Use data to inform, not control

We know that data can deliver greater efficiencies, however we all need to ensure that it is not the only reason we make certain decisions.

Focusing only on the data you hold can leave you ignoring potential expanded targets or worse, making bad decisions and not understanding your customers and competitors. So, your quick checklist: