Success in digital advertising is increasingly owed to data and analytics. As a user browses and interacts online, data becomes available on their usage and behaviour. Large efforts are being made to collect, store and understand this data, using it to generate advertising revenues. The way the data is decoded and presented is what separates these companies. There are countless targeting options available, it is key to research and understand what option would work best for you.
Usage of data is still a very delicate area, if you are intending to use data you must consider the legal ramification of a poor decision. If you are collecting data yourself, storing it for your own use you must collect appropriate consent. If you are promoting 3rd party offers against this data you must collect additional, separate consent. The list goes on, it is key to understand what you are able to do with the data you have.
Buying data or running campaigns based off 3rd party data are good ways of prospecting and targeting a much wider pool of potential customers. As well as this it is a great source of alternative insight into an audience. Again, you must have a clear understanding of how your data is collected and ensure that all legal considerations have been given appropriate attention.