Find Your Ideal Customers with Our Taxonomy Explorer Tool on bdex.com

Find Your Ideal Customers with Our Taxonomy Explorer Tool

See how quickly you’ll be able to gain valuable insight

These days, it’s impossible to talk about marketing without mentioning data. We now live in a world where almost everybody has information somewhere online, and smart organizations know that most of it is readily accessible.

It used to be difficult for businesses to gather detailed data on their customers, but that’s no longer the case. In fact, one of the biggest issues now is the opposite: there’s just too much of it. You can easily collect pages and pages of demographics, past behaviors, and numbers, but then there’s the matter of wading through everything in order to find the stuff that’s relevant to your business. And when you do find what could be useful, it may be outdated, incomplete, or too vague.

The key to using data effectively is specificity.

It’s not enough anymore to get a general idea of the wants and needs of your customers; painting them with a broad brush won’t give you the results you are looking for. But knowing what individual people are interested in buying can immediately give you the most fruitful leads, and this is where our Taxonomy Explorer tool can be a huge asset.

How the Taxonomy Explorer tool works

At BDEX, we have more than 900 billion data points businesses can use. While that’s certainly a lot of data to sift through, our Taxonomy Explorer tool makes it simple to find detailed and pertinent information. This allows you to locate your ideal customers while saving time and money.

Unique users

The first thing to think about when utilizing the Taxonomy Explorer is what type of unique users you’re looking for. You can search for people through email, mobile devices, browser cookies, and postal addresses. You can choose one, all, or a combination.

Industry

The next step is selecting an industry. We have more than 300 industries to pick from, and you can also put in a search term to narrow down the results. For example, let’s say that your business involves something related to kitchens. Choosing Home/Kitchen from the list – with every user category selected – brings up a total dataset class of over 74,000.

Digging a little deeper

Okay, so now you’ve got 74,000+ possible people to target, so you’ll want to whittle this number down to find your ideal customers. Just keeping the Email box checked immediately cuts the list to about 17,000. If you’re interested in using direct mail for marketing purposes, you’ll see that around 10,000 of these consumers have postal addresses you’ll be able to get. For strictly mobile purposes – both AAID and IDFA – that number goes back up to just over 39,000.

See what your customers are up to in real-time

One of the biggest benefits of this targeting is that you can learn about individual search and buying habits as they are happening. For example, if certain individuals buy a cookbook online, you will know about it immediately. And, if you sell cookware, you can right away serve them an ad or send a promotion for your products. Real-time targeting will get you on someone’s radar exactly when they’re in the buying mood.

Find customers wherever they are

In addition, through cross-device matching, you can keep tabs on buyer behavior across all of their devices, including computers, tablets, and phones. This also includes other avenues, such as browser cookies, email address, and postal address. No matter what they’re doing or where they are, you will be able to find people who are most interested in what you’re selling.

Take our Taxonomy Explorer tool for a test drive

Whatever industry your business is in, our database is almost certainly full of people who would make great customers. Test it out here, and for more information, please contact us.

The Importance of Cybersecurity for Your Company’s Data on bdex.com

The Importance of Cybersecurity for Your Company’s Data

Is your information – including your marketing data – safe from cyber-attacks?

In this digital era where data containing private information is stored in the cloud or on in-house servers, cybercrime has become one of the most pressing issues around the world. Brazen cyberattacks have become big news, from those targeting retail chains and highly-trafficked websites to the data breach at Equifax, one of the main credit rating agencies, which compromised nearly 150 million people.

It is clear that data firms and the organizations that use that data need to be vigilant and take greater steps to protect their information from hackers and cybercriminals.

The cornerstone of cybersecurity is PDR

The key to protecting data is PDR: Prevent, Detect, and Respond. Companies must establish protocols to detect and stop breaches from within and from outside sources. This should include software that can detect anomalies within the system and employee education about cybersecurity.

Using data analytics to protect your data

Data analytics can detect patterns. In the case of BDEX, it’s used to spot real-time consumer activity both online and in brick-and-mortar stores. BDEX data tells you that someone has been searching for a new car, purchased concert tickets, or bought baby food.

A similar technology can also be programmed to search for anomalies in device behavior to detect potential breaches. In other words, the same programs that search for buying patterns can be taught how to spot abnormal or suspicious network behavior. Systems can be programmed to detect threats from someone using an unknown signature. Analytics programs can also collect data from various sources and silos to “learn” how different kinds of attacks occur – so those attacks will be quickly recognized and shut down.

Employee activity monitoring and training

Though no one wants to think that an employee could be the source of a cyber attack, it is a very real possibility. In fact, the Harvard Business Review cited a 2016 Cyber Security Intelligence Index from IBM, which found that “60% of all attacks were carried out by insiders. Of these attacks, three-quarters involved malicious intent, and one-quarter involved inadvertent actors.”

Data analytics can be used to detect unusual activity on the part of employees, such as downloading large amounts of data or activity that takes place at unusual times. But as critical is training employees basic cybersecurity, such as not exchanging sensitive data over unsecured networks and how to avoid vishing and phishing attacks. Vishing is when hackers try to “human engineer” their way into getting credentials or other information through a phone call, while phishing attempts the same thing using fraudulent emails that spoof reputable senders.

Employees should only accept emails that:

  • Come from someone they know
  • They expected to receive
  • Look normal with no unusual email addresses, spellings, wording or suspicious content or links
  • Pass anti-malware tests

Employees must understand the risks of certain behaviors, such as clicking unknown links, downloading content or software from unknown or unverified sources, and visiting certain websites. Any of these behaviors can lead to computers becoming infected with a virus or malicious software that can corrupt or steal data.

There should also be proper training in document management and data management, as well as training on how to recognize and report computer problems that could be related to a virus, malware, or other threat.

Monitoring outside threats with intrusion detection

Many types of threats come from beyond the perimeter of your company’s network. Companies must have adequate perimeter protections to stop the intrusion, which typically involves a professional-grade firewall. Other security steps include using multi-factor authentication, which requires at least two distinct forms of identity to log in to a system, and the use of data encryption. Encryption is particularly valuable, as even if hackers successfully steal data, they simply can’t read or use it without the encryption key.

Cybersecurity is now crucial – and growing in importance

With cybercrime costing organizations and individuals as much as $600 billion in 2017 alone, security is more important than ever. It is essential that every company take action to prevent, detect and respond to cyber attacks. From data analytics designed to spot threats to adequate employee training, being vigilant now may safeguard your data – as well as your company’s reputation.

BDEX provides real-time data via over 700 million device ID connections and more than 900 billion data signals available through our proprietary Data Exchange Platform. Call us at 917-410-6616 or send an email to info@bdex.com to start putting this information to work for your next marketing campaign.

Which Vehicles Will Drive the Success of Your Marketing Campaign on bdex.com

Which Vehicles Will Drive the Success of Your Marketing Campaign?

The pros and cons of marketing media

A successful marketing campaign depends on several elements. You need to create a marketing plan, determine your target market, and then decide the best way to reach those potential customers. Data from BDEX will give you great insight into who is most likely to be interested in your product or service. We collect real-time data based on actual customer behavior, from recent online activity, via store POS (point of service) systems, plus geofencing technology, which tracks when people have visited a physical store.

Choosing the right marketing media

Once you have your target market, you must choose marketing media that will give you the best results. Which ones you choose will depend on several factors, including your budget and the “personality” and preferences of your target market. The vehicles you choose to target millennial males will be very different than if you’re targeting women 65 and older. Targeted marketing media can include email, direct mail, social media advertising, mobile advertising, website ads, and telemarketing, among others.

Let’s take a look at various marketing mediums and discuss the best practices for each

Email marketing

Targeted emails deliver your message directly to existing or potential customers. Email campaigns are one of the most effective marketing vehicles, as the open rates for a well-targeted and executed campaign can be pretty high. According to Adobe.com, email open rates can be as high as 20-30 percent.

Here are more email marketing statistics from HubSpot.com:

  • Consumers who purchase products through email spend 138% more money
  • Sales emails have eight times more opens and clicks and can produce six times more ROI than other types of email
  • Email is the third-most-influential source of information for B2B audiences

One thing to note is that you need permission to send emails. Every country has different rules and some are much more strict than others. For instance, the European Union recently enacted GDPR, which set new rules on how personal information can be used. If you violate the terms, your company could face fines or worse. Canada and the US also have their own laws. Basically, you shouldn’t send marketing emails unless someone has opted in or subscribed, whether the person provides an email at a physical store or fills out an online form. The alternative is to work with an Email Service Provider or ESP that maintains an email opt-in list. In this case, they can send the emails for you to their opted-in users.

Online and social media campaigns

Online marketing campaigns can include digital ads on related websites or blogs frequented by your target market. Online marketing can also include served ads that appear based on the online activity of your potential customers, including purchases or Internet searches. Your campaign might also include paid advertising on a search engine like Google. Basically, you pay Google to advertise your content to customers based on keyword searches, which captures them at the very moment they are most likely to take action.

Another effective means of online marketing is advertising on social media sites. These sites allow you to target ads based on factors like location, gender, age, marital status, and hobbies/interests. You can reach a relatively large number of people without spending a lot of money. Which social media site you choose will depend greatly on your target audience. Teens and millennials tend to use Instagram over Facebook, for instance.

Direct mail marketing

Direct mail remains an effective marketing medium, especially with certain target segments. For instance, senior citizens might not be online as much or be as tech savvy with their phones, but they are more likely to read their mail. A big advantage of this medium is that you don’t need any sort of opt-in or permission to send a postcard. On the other hand, your piece can easily go straight in the trash. This medium is also more expensive as you must pay to have the piece produced, printed (by the thousands), and then mailed.

Phone marketing

Although telemarketing has gotten a bad rap, phone calls can still be an effective method of reaching your target audience. It can be even more effective when applied to B2B marketing. However, be aware that there are regulations you need to follow in order to avoid fines. You must get permission in order to call cell phones. You also want to make sure your data is as up to date as possible. Check for things like a change of phone number or address. If you are calling a business, ensure your contact is still with that company or if they have changed positions. Generally speaking, businesses do have the ability to call past or existing customers.

An effective marketing campaign is all about determining your target market and then deciding which marketing vehicles will best reach those people. Each vehicle has pros and cons, so you must decide which will be the most cost-effective and give you a better ROI.

BDEX can help you create an effective marketing campaign by providing real-time data via over 700 million device ID connections and more than 900 billion data signals available through our proprietary Data Exchange Platform. Call us at 917-410-6616 or send an email to info@bdex.com to start putting this information to work for your business.

Better Sources Mean Better Marketing Data on bdex.com

Better Sources Mean Better Marketing Data

Making sure you get the best data

Finding a company to provide data services has never been easier. There are dozens of them, all just waiting to provide you with consumer data. Neustar, Acxiom, Infogroup, etc. But some of these companies try very hard to sell customers data that they don’t want, that they don’t need, and they can’t even use.

“Philip” runs a computer shop in Pennsylvania. He is trying to get a bit more foot traffic into his brick-and-mortar store, so he decides to send out some direct mail, or perhaps try to target some online advertising. In order to do that, he contacts a company that provides consumer data, so that he knows whom he is advertising too.

Unfortunately for Philip, the company he chose lumps data together that he doesn’t necessarily need. Now he has to sieve through a wide range of data about consumers just to find consumer data from the zip codes he cares about and the type of people he cares about. Further, that data probably doesn’t have actionable insights that indicate a prospect is actively looking for computers or related products – meaning they may not even be a prospect at all. And now he has a lot of useless data and doesn’t even know it until he uses it and gets no response – and this is data he spent his hard-earned money on.

The company he bought it from, of course, does not care. They wish to sell as much data as possible, regardless of the custom, personal experience they might be able to provide. And why should they bother providing such an experience? After all, they own more data than they know what to do with and have incentives to sell as much of it as possible.

Luckily, an alternative exists in the form of BDEX. BDEX specializes in providing a subscription model for data collection, allowing customers to buy only the data they want and need and none that they don’t. Philip can purchase data about consumers in Philadelphia that are looking for his products without having the hassle of sifting through information he doesn’t need. More than that, he’s getting more than just the data he would have with a single company. He’s getting access to the data available from many, many companies and sources.

This is because BDEX is partnered with about fifty major data providers, including Neustar, Acxiom, and InfoGroup. Customers using BDEX’s subscription plan get access to all the data these companies have licensed it to use. That means that subscribed customers get access to many of these companies’ benefits without having to build a relationship with them, and without paying for unwanted data – making their purchase truly customizable.

This access allows BDEX to aggregate data from discrete sources, filter them, and organize them in ways meaningful for the client. Ultimately, this piles up to 900 million mobile devices, 1.3 billion email addresses, and 220 million U.S. postal addresses, all part of the vast network providing data. This data is provided via purchase history, mobile apps, websites, supermarket clubs, geofencing, credit card providers, and more. Of course, not every customer needs to use all of this data. They can pick and choose what they want to receive in their subscription.

These fifty major data providers allow BDEX access to data of varying kinds. The core data comes in the form of consumer behavioral data, geofencing, audience intent, and demographic personal data. All of this is mined from sources like those mentioned previously and can be used in all sorts of marketing. These myriad sources provide a diverse quality and quantity of consumer data, ensuring that there is something valuable in it for any business. This turns BDEX into a marketplace where the best data can be selected and purchased.

This diversity of sources also gives a company an advantage against their competition. If every company in the area is using the same source of data, they will all be advertising to the same consumers. However, companies with access to more varied data, from more varied sources – along with actionable, real-time behavioral data that indicates a prospect is ready to buy – can both narrow things down to an efficient list and often target consumers whom others do not have access to.

All of this is readily available in a simple subscription model, without the need to interact with third parties or go through the hassle of sorting through unwanted data – saving you time and money, and vastly boosting the impact of your marketing efforts.

Automotive Marketing Case Study: Maher Chevrolet on bdex.com

Automotive Marketing Case Study: Maher Chevrolet

How data insights from BDEX led directly to increased car sales

One of the biggest challenges for businesses is identifying people who are ready to buy their product. This can be especially difficult for companies that still rely on physical stores and showrooms in which customers need to go offline to shop – and this was the dilemma faced by Maher Chevrolet.

Old methods just don’t work anymore

The marketing formula for car dealerships used to be simple: Stock a lot and showroom with shiny vehicles and make sure people passing by can see the low, low prices and beautiful cars. But nowadays, it’s not that easy to attract customers. For one thing, passersby may not even look up from the road or their smartphones. And if they do, they might just do a quick online search to see if, in fact, those low prices aren’t just a little lower somewhere else.

Maher needed a new approach to finding the right customers

A fixture in St. Petersburg, Florida, for more than 30 years, Maher Chevrolet contacted BDEX with one goal in mind: to find new ways to identify customers in their area. This included all channels, both digital and physical.

How BDEX helped Maher identify ideal buyers

Through our Data Exchange Program, BDEX has over 900 billion data signals and more than 700 million device ID connections. This enables us to take real-time data from computers, tablets, smartphones, and other devices and turn it into actionable opportunities for sales. In addition to their online vehicle searches, Maher was able to get other relevant information related to potential customers, including when their car leases were expiring.

The data we offered didn’t just pertain to the online world. Through the use of geofencing, Maher knew when customers visited competing dealerships within a 25-mile radius. Not only did this show exactly who was ready to make a purchase, but this also gave the dealership details about the shopper’s current vehicle, as well as their contact information.

What were the results?

With brand-new insights into the real-time behavior of customers, Maher could stop wasting time on trying to attract just anybody and instead focus on the most promising leads. Over a three-month period, BDEX provided the dealer with hundreds of actionable leads.

As a result, Maher sold 99 cars in three months that were directly related to our data.

Increase your car sales with actionable data from BDEX

While your dealership may take pride in its lot full of gleaming vehicles, the best way to find people who want to buy them is through the smart use of actionable, real-time data. To learn what BDEX can do for you, contact us.

Taking Control of Your Data on bdex.com

Taking Control of Your Data

How BDEX’s Platform as a Service helps you easily monetize your customer data

Managing data can be complex. If you are trying to monetize data you’ve gathered, or just keep it organized when it comes in from discrete sources, it can take hours of work just to synthesize it in a usable and meaningful way. And even then, every bit of it has to be tailored to suit the formats of the various platforms on which data can be monetized.

Data is a major business and an extremely valuable commodity that some are willing to pay good money for. So, when companies collect data and lack a way to properly monetize it, they are basically sitting on a deposit of gold with no equipment to mine it.

For example, a food delivery service could collect a good deal of information about their customers: spending habits, location, and the best contact methods. Unless that business is monetizing its data, however, it is not properly leveraging a potential revenue stream.

Unfortunately, many companies do not have the internal infrastructure needed to organize and monetize their data. It can be a challenge to track information, gather it from across networks and services, make it uniform if derived from different systems, and then present it in a way that can earn revenue. In fact, data is often only used profitably by many companies through their own marketing efforts or to enhance products and services, as selling to other companies can be somewhat complex.

You need a platform to organize and monetize your data

One way to meet this need is through the creation of a unique platform for data monetization. Companies gathering large amounts of data can hire developers to build a platform capable of sustaining the kind of data collection they want, one that then formats and sorts it for monetization. Unfortunately, as they gather more data, the platform necessarily becomes larger and more robust, requiring more effort and tools to maintain it. The data must also be tailored to the individual platforms that purchase it. This can get rather expensive.

This is where BDEX’s platform for data collecting and monetization comes in. Our Platform as a Service (PaaS), available to companies of all sizes and specialties, is built around managing data in such a way that marketing, as well as monetization, become easier and more efficient. Rather than trying to design an in-house solution that deals with the various formats and qualities of data (taken indirectly and/or and from third parties), BDEX is able to synthesize this data into an easy-to-use format.

To monetize data, it is typically sold to common third-party data buyers. Each of these entities requires customers to organize it and format it in a certain way. Data sellers must conform to each distinct set of parameters, including how often you can update the data and how it looks.

Platform as a Service (PaaS) simplifies this process. It already has all the functionality one could want in a platform that is custom-designed to monetize data. It can capture information in real time, manage that data in an efficient and organized way, and even transmit it to third parties – preformatted for specific data buyers. It interfaces with all kinds of data collection and purchasing systems, including those set up for mobile devices. All of the data you collect is entered automatically into the system and can be quickly plugged into external systems such as LiveRamp.

One of its features is its ability to authenticate duplicated data. If data is collected for the same user more than once on different sources, those occurrences will be used to verify the information and then gathered into a single identity to avoid unnecessary redundancy.

This system allows companies to take complete control of their data, keeping it organized and monetized as a way to gain passive revenue. No programmers or database developers required.

Like most BDEX services, this is a subscription model available to all sorts of companies for a monthly fee. To learn more, contact us.