EETech Launches Data Insights: Genius or Missed Opportunity?
EETech has launched a product called Data Insights. Put simply, the product uses information gathers on the EETech website to identify users coming to a supplier’s site. The technology provides information including company, geo, and business unit.
Now this is not that different to the many other systems that use data such as IP address to identify companies visiting to your site. We love CANDDi, and feel it’s the best of the bunch, but there are several other suppliers available. If you’re in marketing, you’ve almost certainly had a call from one of them. But Data Insights are a little different. You might also be using one of the platforms that has visitor ID as a part of their functionality – Demandbase is a good example.
Is Data Insights Genius?
The first thing is that the platform will use interactions on the EETech site to identify visitors. This potentially means that they might have a better database of electronics engineers than some of the other companies in this space. With WFH, it’s probably reasonable to assume they have much better understanding of who is an engineer, and that’s definitely clever.
The platform also gives a good indication of what interests those users. This means you can find out the product interests, industries, top content, and suppliers (if you are a channel partner) that get the most engagement from certain companies.
The benefits are clear, although if you have an alternative, it will probably be hard to justify the cost of the platform.
Is the EETech Platform a Missed Opportunity?
It’s really good to see a publisher innovating. But I’m not quite sure it’s a genius move. At least, not yet.
The problem is knowing what to do with the information that a certain company has started to look at a particular category of products. It’s way beyond the creepy line to call up your contacts and say, “we know someone has been looking at our site”. Although it’s useful information, it can be hard to take action on the information. In fact, you’ll probably end up relying on the retargeting that you run through Google, and that doesn’t need this specific data. (You do run retargeting ads, don’t you?).
The frustrating thing is that EETech has the capability to do something. It could serve your ads on their publications to anyone from a company that shows increased interest in your products. It could fire off emails to those contacts. But it doesn’t. Yet.
I talked to clients about the product, and they pointed out that there isn’t anything new in the product itself. With no automated interface to adverts or emails, and no link between the content viewed on the EETech website and your website, it’s hard to use the data you get. Yes, you could run email campaigns to those companies, and yes you could target them with ABM ads, but it’s all going to be manual.
Why Doesn’t EETech Offer Automated Marketing?
Surely this is an easy decision: if someone is interested in a product, I’d pay a lot more to advertise to them than I would for untargeted display ads. A lot more: maybe 10x.
But do the maths. Let’s assume that I have 20 companies showing interest in products on my website, paying 10x CPMs for those companies isn’t necessarily a good deal for the publisher.
Firstly it’s likely I’ve picked the 20 biggest companies. These are the companies that everyone wants to target. If I sell automotive semiconductors, I want to target Bosch and Continental. In fact, I’d probably pay more to target them whether they are in market for products or not looking. Additionally, if a company is in-market, they will probably hit the websites of several suppliers, all of whom might be using data insights. So there would be a bunfight over advertising to the most valuable companies (and this would mean that anyone buying ads not targeted to companies will suddenly have a lower-quality audience).
The same applies to emails: managing email limits when multiple advertisers are triggering behaviour-driven campaigns is going to be hard. And if it’s popular, it’s going to take some of the best prospects out of the general database because they’ll be sold – at a higher price – to company-targeted campaigns. Let’s be honest, there are still publishers that only want to sell mailings to their entire database, so we have a long way to go before publishers really are able to offer micro-targeted campaigns.
Even if the availability problem could be overcome, there is an integration problem. Most publishers (including EETech) use DoubleClick to serve ads: that allows targeting based upon domain, but you need to use Google’s domain lookup, which will be very different from the data held by EETech that identifies the company at which each visitor works. You’ll basically lose the value of EETech’s bespoke data.
Would I Use Data Insights?
Today this is not a simple question. If I had a website in the electronics sector and didn’t have a tool that identifies anonymous visitors by company, then I’d definitely want a solution. We’ve not benchmarked the performance of EETech Data Insights vs other tools, but we’d guess it offers a higher match rate. So depending on traffic, it could offer a good solution (note that EETech’s solution is definitely not as cheap as many of the other IP lookup tools).
If I had an existing solution, the answer is harder. Something like Demandbase offers the potential to advertise to the companies visiting the website and to automate this process. That’s definitely a step ahead of the current Data Insights product, so it would be pretty hard to justify unless I found that Data Insights did a much better job of identifying visitors.
The good news is that it’s easy (and free) to benchmark the tool. I suspect results may vary, so taking EETech up on their trial must be a no brainer because you might a company that finds the tool to be pure magic.
In the long term, however, Data Insights really needs to be able to automatically trigger email and advertising campaigns through the EETech/All About Circuits database. If they can make the technology and the economics work, then the product would be compelling. We’ll be watching and let you know about the developments as they emerge.
