Lighthouse List is thrilled to announce the results of a recent data validation analysis conducted by independent data evaluator, Truthset. Lighthouse’s data was found to rank no.1 for accuracy across multiple attributes and segments - more than any other data provider analyzed.
Furthermore, Truthset determined Lighthouse provided superior scale across multiple segments compared to other data providers evaluated, making Lighthouse the ideal choice for brands and agencies who are looking for the perfect combination of accuracy and scale.
WHY ADVERTISERS SHOULD PRIZE ACCURACY IN THEIR MARKETING DATA
Data quality and hygiene has long proved a headache for marketers. According to Salesforce’s seventh edition of its “State of Marketing” report shows that only 42% are satisfied with their data’s quality and only 33% of marketers are “completely satisfied” with their ability to generate more relevant experiences with customer data.
Why is data quality and accuracy such as hot topic for marketers? Simply put, bad data affects their bottom line. According to Gartner, bad data costs the average organization nearly $14 million a year. Independent data evaluator Truthset has conducted several analyses and discovered that:
83% of age segments are inaccurate
73% of ads that should be targeting an African American are using inaccurate data
39% of gender targeting is incorrect
So let’s assume a brand has a customer profile of African American women aged 35-50 and is targeting their ads across the web accordingly, Based on Truthset’s findings, there is a strong chance their ads may actually be reaching Irish American men aged 70+, resulting in a huge level of wasted ad spend. If your marketing campaigns are not performing.as expected, ask yourself: is the data I’m using to target my audience of good quality?
The Science of Data - How LIGHTHOUSE ENSURES MAXIMUM ACCURACY OF ITS SEGMENTS
So how does Lighthouse manage to achieve such a high level of accuracy? We believe in the science of data and take a triple-lock approach to ensure maximum hygiene and accuracy:
We source of data from a reliable network of privacy compliant partners.
Our team of data scientists cross-validate our data extensively to ensure its accuracy- For example nearly 50% of our PII data has at least ten matches from different sources, whilst 50% our phone data has at least two matches.
We also link our data to three billion transactions monthly.
Our strength lies in this extensive cross-channel data sourcing and verification process.
Highlights From Truthset’s Analysis
Multicultural Data
Lighthouse already has a history of providing highly-accurate multicultural marketing data to brands and agencies, having been awarded badge from the ANA's AIMM for transparency in multicultural marketing. This data validation analysis demonstrated yet again Lighthouse’s exceptional multicultural data, with no. 1 rankings for the following segments:
Hispanic
African American
Asian
English vs. Spanish language spoken at home.
Geo Data
Do you run marketing campaigns based on geography? Has it ever occurred to you that the data you rely on could be inaccurate and that you could be reaching consumers outside of your chosen target area? Thankfully, with Lighthouse you can rest easy. In their recent evaluation, Truthset determined Lighthouse came out on top for data accuracy across Census Region and Census Division segments.
Homeowner Status
Ideal for a number of brands including lenders, insurers, home improvement firms, furniture a home décor businesses, Lighthouse is proud to have top the rankings for determining whether a consumer is a home owner or a renter. There’s also the possibility to combine this demographic data with our trigger data segments, in order to reach consumers at key life milestones such as a house move.
Pet Owner Status
Looking for consumers who own a furry friend? Lighthouse can help you reach them thanks to our highly-accurate pet ownership data. Truthset gave us top ranking for the following segments:
Pet Owner
Cat Owner
Dog Owner
According to the American Pet Products Association., 90.5 million of US households own a pet and in 2020, collectively, they spent $103.6 billion on them. For brands looking to tap into this potential revenue stream, Lighthouse can help you with your next marketing campaign.
Interested to find out more? Speak to us today about your data needs.
