2018 Year in Review. Data Overload on bdex.com

2018 Year in Review. Data Overload

The proliferation of unstructured data seen this year is poised to accelerate in 2019 and BDEX stands ready with an infrastructure built to power human connectivity.

One of the recurring themes to emerge in 2018 was data overload. The ability of humans to generate data continued to outstrip our ability to understand and act on it. In 2019, there will be the additional challenge of structuring the growing torrent of data from so many disparate sources.

Amid all the excitement about the convergence of Big Data, Artificial Intelligence (AI) and the Internet of Things (IoT), however, some still ask if all the data is going to make us any smarter?  Is it really going to make marketing more efficient, more precise, more effective?

At BDEX we are confident it will because we have spent the last five years building a proprietary data infrastructure to power human connectivity. Today, our platform tracks more 800 million connections between email and mobile IDs and cookie and email IDs to make sure we can connect our customers to the right people on the right device at the right time. We have curated more than 5,500 data classifications that enable our analysts to produce targeted customer lists with unprecedented accuracy, granularity, and speed.

We see the value of these investments being validated every day in the marketplace. As 2018 draws to a close, it seems like a good time to review how and why we have built our infrastructure and what marketers can do with it. So here is a curated list of some of the articles we published on our blog last year.

We look forward to publishing new articles next year and will strive to make them as accurate, timely and actionable as our data. Stay tuned.

The BDEX advantage

BDEX is Not a Typical Marketing Data Company

The BDEX Data Difference

The Ins and Outs of Our Data Exchange Platform (DXP)

Why a Subscription Model Makes Sense for Targeted Marketing Data

How BDEX powers human connectivity

Find Your Ideal Customers with Our Taxonomy Explorer Tool

Device-Matching Connects Customers with Devices – and Businesses with Sales

Getting the Channel Mix Right in Target Marketing

Which Vehicles Will Drive the Success of Your Marketing Campaign?

How specific industries use BDEX to connect

Data-Driven Direct Marketing for Auto Dealers

Customer Targeting Made Easier for Media Companies

How Can Retailers Better Target Customers?

Automotive Marketing Case Study: Maher Chevrolet

How BDEX sees the future

AI on Target to Change the Way We Market

The Future of Data Promises the Perfect In-Store Marketing Experience

The Ins and Outs of Our Data Exchange Platform (DXP) on bdex.com

The Ins and Outs of Our Data Exchange Platform (DXP)

And how it saves companies time and money while supercharging marketing campaigns

These days, you can’t throw a rock without hitting data (or at least somebody talking about data). And data fusion has become a common buzzword in business, and especially with marketing.

While it’s true that modern data collection and analysis are essential when it comes to targeting prospects, there are a number of things that have to be considered. First of all, the data has to be relevant and actionable in order to be useful. On top of that, it has to be easy to obtain, understand, and utilize. Many data companies fall well short in all of these regards, which is one of the reasons many businesses turn to BDEX.

Out with the old

The traditional way for companies to get data and leverage it in-house is to buy it from several different places and then have data scientists aggregate it. This involves investing in a platform and paying database administrators and analysts to store, manage, and make sense of it. Once the data goes into one of these platforms, companies have to verify and cross-reference it across consumer identities and disparate sources. Not only does this involve a significant amount of work and expense, this inefficient method doesn’t always produce the best results – or leverage the best sources.

In with the new

With our Data Exchange Platform (DXP), we aggregate the best data sources while saving our customers a lot of time and money. The main reason the DXP is so powerful is due to the uniform taxonomy we’ve built.  When data comes into the platform from dozens or even hundreds of different sources, immediately it gets sorted, verified, and otherwise aggregated. Plus, because of our device graph – which is one of the most extensive in the U.S. – we can take data from any source and unify devices at the consumer level. All of this allows users to search all of the sources across more than 5,000 categories with a single query.

Always authentic data

Another unique aspect of the DXP is that we can authenticate the data. In many instances, the same data comes from a variety of different sources, which can result in incomplete or wrong examples of information. For example, one source may say that someone is male, while another says they’re female. But we have the ability to fully authenticate the quality of the data by looking at numerous sources that say the same things – separating them from those that don’t.

Access to millions of consumers and billions of their emails and devices

Our DXP is essentially a one-stop shop for all data needs. We give companies access to 290 million consumer identities and around 1.3 billion email addresses. We also have more than a billion device IDs. This means that even if someone regularly uses more than one device, through cross-device matching, we will know which ones are linked to a specific person.

Get the most out of your 2019 marketing budget

Marketing often takes up a large chunk of company budgets and it’s often inefficient – but actionable, highly-detailed data that targets prospects whom are currently looking to purchase your product or service get the most out of this spend. If you’re putting together your marketing plan for 2019, let BDEX help you find the individuals who are ready to buy. Get in touch with us now to learn about everything we offer.

The BDEX Data Difference on bdex.com

The BDEX Data Difference

5 things that set BDEX apart

Customer data drives so much of our commerce. The ability to collect and track information on buying habits, online search activity, and past purchases, as well as personal and demographic data such as location, age, gender, occupation, and marital status, means we know more about consumer activity – and consumers themselves – than ever before.

And while there are many data companies and various sources out there, BDEX’s platforms and services work in a different, better way. Here are four things that set us apart:

1.  Real-time targeting

BDEX offers market-driven information with consumer scoring, customer purchasing information, and real-time data based on recent Internet search activity and purchases for everything from airline tickets and cars to apparel and furniture. We also have to ability to collect data via Point-of-Service (POS) systems from brick-and-mortar stores, as well as geofencing technology, a location-based service that uses GPS, RFID (radio frequency identifiers), Wi-Fi, and cellular data to track stores that consumers have visited.

This information is gathered the moment a prospect starts shopping, allowing you to target individuals who are already in the market for your product or service. You can create personalized messages or even develop new offers that speak directly to customers’ needs. No matter your business or industry, we have data that can help you reach your target audience at the very moment they are looking.

2.  Accurate, specific, and processed data

One problem within our industry is the overuse of data. Many companies collect or buy the same data from the same sources, so information simply gets passed around. It often comes in a variety of files and formats that must be aggregated and categorized, which can lead to errors or significant manual work to find what you’re looking for. BDEX avoids this time-consuming, error-prone method by immediately sorting and identifying the data points that come into our exchange platform to ensure its accuracy and relevance to our clients.

Check out this BDEX blog to learn more about the overuse of 3rd-Party Data.

Read another insightful blog about getting better data with better sources.

3.  Data downloading, uploading, selling, and management made easy

Most data exchange companies that are interested in purchasing your data require you to organize and format this information in a certain way, within a custom set of distinct parameters. BDEX simplifies the process of you monetizing your valuable data with our Platform as a Service (PaaS). Our system eases managing and formatting your data, and can even transmit it to buyers according to their required specifications.

For more information about monetizing your data, see this previous BDEX blog.

In addition, our Data Download Module allows you to select and download the data you buy from BDEX straight from us – and only in the format in which you need it – rather than deal with an email file or a data set that is non-specific. You can reuse data that was saved from a previous campaign or simply use the latest leads for an entirely new effort. Files are available in CSV or XML formats, which are easy to open and use on almost any device.

4.  Cross-device matching

Our data gives you the ability to market to consumers via multiple devices and channels, including email, social media, direct mail, and mobile. We utilize information from more than 75 vetted partners and 400 million mobile-to-email ID connections – matching up different sources with the same consumers on different devices –  to help you find and target prospects across different platforms.

5.  The BDEX Data Exchange Platform

BDEX manages a complex data exchange that ingests real-time info from disparate sources and integrates them – and it has access to unique data from our partners who contribute to the platform. This means our clients get unique, highly-targeted, and actionable marketing information that they wouldn’t otherwise have access to. The BDEX Data Exchange Platform features real-time data collected from over 700 million device ID connections and more than 900 billion data signals.

Call us at 917-410-6616 or send an email to info@bdex.com to start putting this information to work for your business.

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.

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.

Why a Subscription Model Makes Sense for Targeted Marketing Data on bdex.com

Why a Subscription Model Makes Sense for Targeted Marketing Data

Only get the targeted marketing data you need, when you need it

One of the elements of successful marketing is knowing your audience. Whether you’re trying to sell a phone or a shower curtain, knowing which people are potential customers is essential. Otherwise, you’re unlikely to sell anything at all.

Buying data, then, is an essential part of the process of finding customers. Through this information, companies can learn what consumers are buying, how much they are paying, where they are making their purchases, and how likely they are to repeat them. Unfortunately, many data brokers are more concerned with the quantity than the quality of the data they provide.

One of the largest problems that come from working with such great quantities is that data becomes too broad to actually be useful. Let’s say, for example, that a customer fits a demographic and predictive profile of people who are likely to buy a home, based on past data that shows 10% of that group with similar characteristics will be in the market. That means, at best, 90% of the dollars spent on marketing to the group will be wasted.

Many data firms, however, are going to give companies that big, non-specific list based on predictive data. It will likely target and reach some people who are interested in buying a house, but at what cost? In a traditional data licensing agreement, it’s all or nothing; companies pay to license the entire file.

Many data companies may not care if their clients are only looking for data about specific demographics or regions, forcing them to pay for data they cannot even use. A home appliance company that only serves Florida does not need information about Maine, after all. And a law firm that specializes in divorce does not need information about teenagers. But the complete dataset purchased from some data brokers will have all of that information, which then needs to be whittled down in-house, creating an additional expense in the form of the expertise and man-hours needed to manage the data.

A subscription model like BDEX, however, completely changes this

In a subscription model that involves real-time data, the client only receives the consumer information that they want, when they want it. If a company is only interested in people who live or work in downtown Pittsburgh who are actively shopping for a home online or in-person, that’s the information that a subscription will provide. Gone is the need to sieve aimlessly through a thousand faceless names, trying to poke and prod until you find information that can be used for marketing.

Take a look at a specific example: Let’s say a marketer wants to identify and reach out to people who collect antiques. With BDEX’s geofencing capability, a marketer can actually see that a collector has spent time at a brick-and-mortar antique store. Thanks to online behavioral date, they can also see that he’s been visiting eBay and antique websites online. These elements are fused with specific variables (say, home address and potentially many other factors) and the marketer receives a customized list of only the names of these highly-specific targets – individuals who are actively looking to buy collectibles in a geographic area, all the way down to the specific zip codes.

That list may only be 10 people a month, based on the parameters.

With a standard data company, a marketer might instead buy a list of people in the antiquing demographic, and it would take hours to sort the relevant elements and find a way to advertise to collectors … along with a bunch of people who aren’t collectors. A subscription model eliminates these inefficiencies. Your company can advertise to consumers more efficiently than its competitors, and get your customer those antiques (or cars, homes, furnishings, etc.) even more quickly.

Additionally, a subscription model may help you find customers that other models are not even able to detect. If everyone is using the same data collecting techniques, then all of your competitors will end up advertising to the same people, whether or not it is effective. The data gets stale and overused and suddenly people are seeing ten ads a day for sinks they already bought, which is a massive waste of money. A subscription, on the other hand, allows marketers access to consumers that traditional models might not pick up – those whom are looking to buy now.

All of this serves to make a subscription model more competitive in a changing marketplace. Subscriptions allow businesses to adapt on the fly without having to sort through gigabytes of useless information, giving them the edge they need to market successfully.

To start making a highly-specific data subscription model work for your marketing campaigns, call us at 917-410-6616 or send an email to info@bdex.com.