Bidstream intent data is collected from online advertising platforms and ad exchanges to estimate a user’s interest in a given product or service.
It captures the “bid” an advertiser is willing to pay for a given keyword or phrase (also known as keyword scraping) along with the “impressions” or “clicks” associated with that keyword or phrase with the help of a tool called ad pixel.
What Is the Purpose of Bidstream Intent Data?
Intent data from bidstreams can be used to determine consumer interest in a given product or service as well as determine which keywords and phrases are most likely to result in leads or sales.
Additionally, because this engagement data is collected by bidstream providers in real-time, it can provide marketers with valuable insight into how the behavior of consumers is changing over time, tracking user behavior to lower customer acquisition costs and understand each user better on an account level.
Although bidstream intent data can be extremely valuable, it is important to remember that it should never be used in isolation.
This type of intent data should be combined with other sources of data, such as web analytics data, to provide a more complete picture of consumer behavior.
What Are Typical Bidstream Intent Data Attributes?
Among the most popular attributes of bidstream intent data are demographics, location, interests, browsing history, website engagement metrics, and social media engagement metrics.
In addition, the types of digital channels from which this data is collected can also impact the types of user attributes that can be extracted.
For example, search engine behavior will contain information regarding the search terms entered into the search engine and even demographic data.
By understanding the different attributes associated with this type of intent data, organizations can fully take advantage of this valuable resource for marketing purposes and business decision-making.
What Are the Pros of Bidstream Intent Data?
Bidstream intent data is primarily based on the collection and analysis of a wide range of user behavior on the web.
This data can then be used to create a comprehensive picture of consumer preferences and desires, helping businesses create strategies to increase their market share and profitability.
A variety of benefits are associated with this data type, including the ability to make more informed marketing decisions, enhanced targeting capabilities, and greater transparency.
Most importantly, bidstream data can provide businesses with insight into the behavior of their customers, meaning they can develop more relevant and attractive products and services that better suit those customers.
What Are the Cons of Bidstream Intent Data?
Using bidstream intent data as a decision-making tool has a number of drawbacks.
- Since this type of data is based on inference rather than direct measurement, it can be difficult to verify its accuracy.
- Bidstream data is often collected in an indirect manner, which can make it difficult or impossible to dissect individual customer actions or motivations.
- Bidstream data can be a valuable research tool, however, it should be kept in mind that these benefits do not always translate directly into business results.
Therefore, organizations must consider all aspects of incorporating bidstream data in order to maximize its analytical utility and ensure that it supports their goals in an effective way.
Is Bidstream Intent Data Considered to Be of High Quality?
There is some debate in the marketing industry as to whether bidstream intent data is of high quality.
In comparison to first-party intent data, some believe that this data is not of high quality since it does not provide information about what the user was really intending to do when they visited the exchange.
Others argue that this type of data is of high quality since it provides insights into the type of advertising the user is interested in.a
However, it’s fair to note that there are ways to enhance the quality of your intent data. Partnering up with multiple bidstream intent data providers is a sure-fire way to quickly boost the quality across the board.
Choosing an intent data provider is a tricky task, so make sure you check out our list of the best companies in the industry.
Co-op vs Bidstream Intent Data
When it comes to co-op versus bidstream intent data, there are many factors to consider.
In contrast to bidstream data, co-op data is collected from large pools of users and typically comes at a higher price tag than bidstream data.
Co-op data is, however, often more accurate since it is based on information collected by websites and apps from real-world interactions with consumers and consolidated into a single source of truth using natural language models and advanced machine learning techniques.
In contrast, bidstream intent data is generally less expensive but may not be as reliable.
Ultimately, your choice between co-op and bidstream intent data depends on your marketing goals and the type of information that will best enable you to reach your target audience.
Is the Collection of Bidstream Intent Data Compliant with Data Regulations?
In recent years, there has been debate over whether collecting and using bidstream data for marketing purposes is legal and compliant with data privacy laws.
Currently, there is no definitive answer since the laws and regulations surrounding data collection are constantly evolving. Some experts, however, believe that the collection of bidstream data may not comply with current privacy regulations.
Specifically, the General Data Protection Regulation (GDPR) requires that companies obtain explicit consent from users before collecting or using their personal information.
Due to the fact that bidstream data is collected automatically, without the user’s knowledge or consent, it could potentially violate the GDPR’s standards for legal data collection.
Other data protection regulations, such as the California Consumer Privacy Act (CCPA), have similar requirements. As a result, companies that collect and use bidstream data should be cognizant of the potential risks and ensure that they are complying with the relevant laws and regulations.
Research shows that over 70% of marketers are projected to be actively using intent data to boost the performance of their sales and marketing campaigns in 2022. So don’t let the competition leave you behind!