How Real-Time Targeting Can Revolutionize Your Marketing Strategy on bdex.com

How Real-Time Targeting Can Revolutionize Your Marketing Strategy

Delivering the right content at the right moment is a vital part of obtaining – and keeping – customers

The ways companies reach and obtain new customers has evolved since the early days of marketing and advertising. Long gone are the days of spray-and-pray marketing, when advertisers would send and spread mass campaigns in the hopes of turning a few curious eyeballs into paying customers. Today’s consumers recognize a generic advertisement or message when they see it, and they’re completely turned off. They demand personalization throughout the customer experience – and that begins with a relevant, timely marketing campaign.

Through real-time targeting, companies can access the exact data they need, connect with their customers no matter their device, and create the most effective marketing campaigns possible.

Find the right data at the right time

At its core, real-time marketing is serving the right content to the right person on the right device at the right time. Of course, that’s easier said than done – especially if you don’t know when and where your prospects are shopping or the products and services they’re looking to buy. Many companies rely on common, outdated resources that only provide traditional data or predictive analytics. While helpful for establishing a customer base, this kind of information provides limited value when it comes to real-time marketing.

Enter real-time targeting. By tagging, collecting, and integrating data from online and offline channels and a variety of mobile and desktop devices, companies can get the information they need to target potential customers the moment they start shopping.

Collecting relevant real-time data

To ensure companies can reach potential customers quickly and accurately through real-time targeting, BDEX collects real-time data by:

  • Accessing consumers’ recent activity and purchases (airline tickets, cars, apparel, furniture, etc.).
  • Collecting data from Point-of-Sale (POS) systems in brick-and-mortar stores.
  • Using geofencing technology, a location-based service that accesses GPS, RFID, Wi-Fi, and cellular data to track stores that consumers have visited.

This wealth of data from disparate sources is then integrated into the BDEX Data Exchange Platform, where it becomes unique, highly targeted, and actionable marketing information that companies can use to enable and enhance human connectivity.

Connect customers across multiple devices

Real-time targeting is not just a matter of finding the right data, however. Knowing who and what device to target is a crucial step in any effective marketing strategy.

The proliferation of mobile devices has allowed people around the world to access the internet, but it’s also made it difficult for marketers to match customers across multiple devices. To organize the wealth of data they have on their customers, companies are adopting ID graphs, or databases that hold customer profiles and all the known identifiers that correlate with those consumers. However, if the information in these databases is based purely on the probability of a user being connected to a device, the ID graph might not provide the most accurate matches possible, and since consumers are constantly changing and turning on new devices, it is a challenge to know if your device data is still current.

To ensure certainty when matching customers with devices, BDEX’s ID graph uses a deterministic cross-device matching approach. Rather than relying on probabilistic measures, BDEX uses deterministic authenticated customer information, such as anonymized log-in data, email addresses, and credit card purchases to match and recognize individuals regardless of which device they are using. With real-time information from more than 75 vetted partners and over 800 million mobile-to-email ID connections, BDEX can help you target consumers across different platforms with unparalleled accuracy.

Once companies have a wealth of real-time data and can successfully match users with their correct devices, they can create marketing campaigns customized for specific customers and channels.

Personalize and send marketing campaigns

Personalization is a key component of an effective marketing campaign and a successful customer relationship. Not only do customers appreciate personalization – they expect it. According to Salesforce, 76 percent of consumers expect companies to understand their needs and expectations.

Through real-time targeting and cross-device matching, companies can:

  • Tailor marketing messaging based on behavior. For example, if a customer searched for a pair of shoes via smartphone last week, a company can send a personalized coupon code to encourage a transaction.
  • Offer relevant product recommendations. Based on a customer’s recent purchases or recent search history, a company can offer similar products or other items that would complement the purchase.
  • Take better advantage of programmatic advertising. Accurate, real-time data is the foundation of successful programmatic advertising.
  • Encourage customers to come in-store. Retailers, restaurants, and other businesses can use geofencing technology to know when their customers are close by and encourage them to visit through push notifications, text messages, and other channels.

These are just a few ways real-time data can be used to cultivate human connectivity and enhance customer experience. By using personalization to attract and engage with their customers, companies can foster genuine relationships that lead to increased sales and stronger brand loyalty.

Though the tactic is very effective, 60 percent of marketers struggle to personalize content in real time. To aid companies in their marketing efforts and beyond, BDEX developed the Explore Data Tool, which allows companies to mine through various data sets to reach customers throughout their purchasing process – from building a custom audience to real-time targeting to post-purchase.

Thanks to more than 100 partners, BDEX analysts can search more than 1 trillion data points on every U.S. consumer across 19 categories of shoppers and more than 5,000 other categories – all designed to help marketers fine-tune their real-time marketing. Contact us to learn how we can help you advance your current marketing strategy.

Marketing Culture 2.0: Data Analytics on bdex.com

Marketing Culture 2.0: Data Analytics

A look at updates organizations must make culturally to compete in today’s real-time marketplace, where the focus is human connectivity

Customer data is driving marketing into the future. But even the most tech-savvy marketing office won’t fully succeed when analyzing data without also integrating big changes into its company culture.

Data is valuable; there’s no doubt about that. But without using it to its full potential, businesses miss out on many crucial improvements to business strategy, including, most importantly, fostering real human connections.

A Forrester survey revealed that companies that integrate an advanced analytics culture increased their marketing ROI by an average of 9.1 percent over the last one to two years. This improved performance 1.7 times for these companies versus those that didn’t have an advanced analytics culture.

These considerations clearly matter for the bottom line. Here are ways that organizations can harness data to its full potential.

Updating company analytics culture

A greater focus on company culture is a major part of using data analytics successfully. It’s not enough to use the newest tools and technologies; the team must collaborate and learn together how data push the business forward.

Across the company, the key components of a successful analytics culture are, according to Forrester:

  • Strategy. This requires business leaders to use data insights to drive decision-making. Data should be included in all marketing channels.
  • Adoption. Marketing strategy that is driven by data insights must be considered a business growth driver across the company.
  • Turning insights into action. The team must be able to interpret data and use it quickly.
  • Tech and tools. Data must come from various sources, and tools must be implemented that provide clear and distinguishable facts about the data.
  • Data science expertise. The team must be able to weed through large amounts of data and have the expertise required to use the insights for future predictions.

Because using customer data to drive marketing strategy is so multifaceted, it’s clear that doing so successfully requires much more than bringing new platforms into the office. An effective analytics culture must be learned and implemented across teams and experience levels so decisions can be driven efficiently by real-time data insights.

Integrate data in a decision-making

Company leaders may not be fully using data and relevant customer-insight teams to make decisions. The Forrester surveyors concluded that companies that involve customer insights and data teams into decision-making for marketing show a stronger analytics culture overall than those that don’t.

This is why customer insights and data should be directly connected to marketing decision-making. Business outcomes are improved when decisions are made based on facts and real-time insights. The majority of companies surveyed by Forrester (81 percent) that use data to drive their decision-making processes saw better business outcomes and reported improvements in marketing performance.

Companies should, therefore, focus on educating employees so everyone is aligned on driving decisions from analytics, and teams must then come together behind this practice. Decisions should be backed up by facts pulled from data, and this should become the minimum expectation.

Fostering real human connection

One of the biggest benefits of fully integrating data analytics is the human component. Companies using real-time customer data are able to make immediate, relevant connections with their audience.

It’s important to note that customers shouldn’t be treated like data figures or numbers; for companies to effectively use real-time customer insights, they must connect on an individual and human level. This means decisions should be well thought-through and based on data, but they should also have a basis of underlying trust that drives relationships, as Inc.com points out.

This thinking continues to drive the age-old idea that the customer should be No. 1 in any marketing strategy, digital or not.

Mastering analytics

The Forrester survey also indicated that there were clear advantages for companies that had actually mastered measurement and analytics, over those that had just started implementing such programs. One company surveyed reported a 30 percent reduction in customer acquisition cost that was directly attributable to the company’s increased focus on analytics.

These “mastering” companies were shown to have “nearly 3x improvement in business decision-making speed and time-to-market with new products, higher marketing ROI, greater marketing efficiency, and new customer insights.”

The benefits of revamping analytics company culture are clear. Knowledge is power, and data is behind all valuable marketing information in our modern world. Data should begin to drive business decisions, which will ultimately improve business outcomes, valuable customer connections, flexibility, credibility, and ROI.

BDEX provides advanced data infrastructure that drives human connectivity. The BDEX Data Exchange Platform (DXP) provides data as a service (DaaS) and real-time data signals so you can target consumers with the latest information. Get in touch today to learn more about BDEX’s advanced data solutions for marketers.

Restaurant Marketing: How to Use Real-Time Data to Increase Loyalty on bdex.com

Restaurant Marketing: How to Use Real-Time Data to Increase Loyalty

Readily available data can help restaurants connect with their customers and strengthen those relationships online – which can be key to remaining competitive

The competitive landscape for restaurants is as intense as ever. No eatery – whether chain or “mom and pop” – can afford to ignore the wealth of data that can help them create and maintain ongoing customer relationships.

At BDEX, we consider this a principle: The more competitive an industry is, the more those in it will need real-time data to enrich those customer relationships. And when we think of competitive business segments, few can beat the restaurant game, with its endless number and variety of competitors.

The winners in any marketplace are the ones who dynamically identify customer wants and needs and fulfill those desires elegantly. But whether it’s an established local chain or the new upscale brasserie in town, how can a restaurant hope to contend with big brands – on both the low and high end – that can dedicate considerable sums to their data-gathering efforts?

First, size isn’t everything

A local restaurant or small chain – where the owners are often on premises and the staff is encouraged to bond with and get to know the patrons – is better able to form real person-to-person relationships with them. This gives them a significant advantage over the large national chains when it comes to creating customer loyalty.

Smaller operations are also closer to the ground. The person using the data is far less removed from the customer than the people running that competing chain from a distant corporate office. This gives small restaurants or groups a massive advantage because when they get their hands on the data, they can understand how it applies to the real world and gain actionable insights from it.

That puts them way ahead of most companies. Case in point: A study from Forrester and DataStax found that 95 percent of companies can’t make sense of customer data and struggle to get much meaningful insight from it.

Fostering “Human Connectivity”

It’s probably a good bet that any successful restaurateur is a good host, adept at making people feel welcome and connecting with them. An effective customer marketing plan supercharges that ability by enabling them to connect beyond their doors and invite customers to come back for new dining experiences.

That begins with the customer list, which operators can cull from point-of-sale data. Transaction data can give restaurants a picture of those patrons, revealing how often they dine at the restaurant, how much they spend, what time of the day they prefer, whether they tend to order from the wine list and those who have visited just once.

By matching that list to customers’ online accounts, restaurants can:

  • Connect with them online, through such avenues as social media, email, and newsletters, as well as offline.
  • Tailor marketing messages to the customer’s profile to entice them to come in more often.
  • Keep the lines of communication open between visits, and even create an opt-in email list that will keep the eatery’s biggest fans in the know on its latest offerings, promotions, and general news.
  • Through geofencing, restaurants can use location data to know when customers, or even prospective diners, are nearby and then make efforts to get them to visit.

The most successful restaurant operations will use data to cultivate repeat customers and keep them loyal – which is one of the first things investors look for. Being able to connect with your diners often means they’ll visit more often, spend more and refer their friends and colleagues. That means, of course, more customers. And in such a competitive industry, that can translate to not only surviving but thriving.

BDEX is committed to building the data infrastructure restaurants need to power human connectivity. Call 917-410-6616 or use our website contact form to learn how marketing solutions from BDEX can help you reach out to your best customers and keep them in the fold.

Why GDPR Won’t Stop Programmatic Advertising on bdex.com

Why GDPR Won’t Stop Programmatic Advertising

Learn the impacts of GDPR on marketing technology, and why programmatic advertising is stronger than ever

The General Data Protection Regulation (GDPR) went into effect on May 25, 2018, and since then organizations around the world have been updating privacy policies, and consumers have become even more concerned about online transparency and confidentiality.

The privacy changes have proven to be especially relevant to marketers and advertisers, industries that already had to manage a delicate balance between consumer data and privacy compliance.

What follows is a look at how GDPR is affecting marketing technology (MarTech) and why brands are actually continuing to increase programmatic advertising, despite rumors that it was on the way out.

Impacts of GDPR on MarTech

The implementation of GDPR got many in the marketing industry talking about how it may be the end of programmatic advertising. With the stricter privacy laws, many thought programmatic would be too complex to monitor and too prone to violating the new regulations.

Because GDPR requires the consent of consumers if their personal data is involved in an interaction, it was said that it would be too complicated for marketers to have an “entirely opted-in subscriber base,” as Global Web Index put it, making it impossible to continue targeted digital advertising.

Most respondents (79 percent) in a report conducted by London Research and Truth said they were worried about levels of transparency in programmatic advertising. The research surveyed over 100 executives at well-known brands and senior marketers and only 14 percent of respondents said they had a good understanding of the portion of their budget that actually gets to the consumer. One of the biggest industry concerns was a lack of visibility into third parties.

However, programmatic advertising isn’t going anywhere anytime soon. In fact, it’s been increasing since GDPR was implemented last year. The use of third-party data on social media platforms, after a decrease following the implementation of GDPR, started rising again in October 2018. Data from Adaptly shows that 15 percent of Facebook media is purchased with third-party data and that data usage has increased almost three times since the initial decrease.

eMarketer predicts that by 2020, U.S. advertisers will see $69 billion in digital display ad spending programmatically, which will make up 86.3 percent of the entire digital display spending.

Why brands are continuing with programmatic advertising

Programmatic advertising is still going strong because it’s such an effective method. Using data like demographics, geography, personal interests, behaviors, and even weather conditions, programmatic advertising platforms can use this real-time data to identify the right audiences and cater ads to devices specific to that audience.

The accurate, real-time data that programmatic advertising takes advantage of has been the foundation to the method’s success. These ads are personalized to each consumer’s unique interests, behaviors, location, and demographics. Put simply, programmatic advertising allows marketers to put a message in front of a person based on what they’re doing at that exact moment.

In the aforementioned London Research survey, 61 percent of respondents said the greatest benefit of programmatic is the ability to target and optimize effectively. Programmatic enhance personalization and improves the overall brand experience for the consumer while increasing marketing ROI.

So how can these benefits be taken advantage of while following GDPR?

First, marketers must address that consent concern. Make it a priority to receive consent from consumers in everything on your website, including cookies, newsletters, or other subscriptions. Adaptly research shows that 3 in 4 consumers in the UK welcome the changes that GDPR brings, so they’re going to be grateful for your transparency and often willing to give their consent.

Updated privacy regulations also mean quality standards are rising. It’s thus more important than ever to put more energy into creating high-quality ads that are competitive and relevant. It’s a great time for marketers to revisit their entire ad strategy along with updating privacy concerns.

And remember that it’s impossible to produce quality ads without quality data. The BDEX Data Exchange Platform (BDEX DXP) has 900 million searchable data points on tens of millions of U.S. consumers. These data points span 19 categories of shoppers and 5,000 additional categories, such as science, sports, and health, to help marketers home in on the audience they need for effective real-time marketing.

Take advantage of programmatic advertising that’s backed by quality, accurate real-time data. Learn more about how BDEX can help you get the data you need to push your real-time targeting strategy forward. Contact us today to learn more about our advanced data platform.

5 Ways 5G Will Affect Data-Driven Marketing on bdex.com

5 Ways 5G Will Affect Data-Driven Marketing

With the next generation of wireless technology expected to accelerate device proliferation, marketers need 100 percent deterministic cross-device matching more than ever.

A little girl rides her tricycle in her home, and as she passes a glass window, an illustration of a friendly monster appears. A fashion designer uses an AR-enabled screen to create his latest work. A group of gamers immerses themselves in an all-out virtual battle on their mobile phones…

If you didn’t see the Samsung ad that first appeared during the Super Bowl earlier this year, these images might seem like far-off fantasies, but with 5G on the horizon, they will soon become a reality.

For marketers, the opportunities 5G will bring are nearly endless. Here are just a few examples.

New marketing mediums will emerge

The proliferation of mobile devices has allowed people across the United States and around the world to access the internet, but not everyone with a smartphone enjoys the same level of connectivity. While they can typically browse the web or watch a short video, a host of problems, from a lack of bandwidth to latency, can keep these users from actively engaging in the content they consume.

The arrival of 5G will give mobile marketers the opportunity to create immersive user experiences like they never have before. Think interactive mobile games that allow users to talk and see each other in real time or AR-enabled apps from brands and retailers that allow users to try on clothes in the comfort of their home.

5G will make waves outside of the mobile space too. Better wireless internet will lead to better location intelligence, allowing marketers to geo-target potential customers with coupons, store updates, and more relevant marketing material with greater precision. In other words, getting the right message to the right customer at the right time—the goal of any marketing campaign—will finally be possible on a broader scale.

Of course, these scenarios are only a few examples of how marketers can create bigger, better campaigns and user experiences with 5G. Only time will tell how marketers take advantage of 5G once it’s widely available.

Marketers will have access to more real-time data

5G will boost network speeds from about 100 megabits per second to 10 gigabits per second, nearly 100 times faster than what is available through 4G now. Increased network speeds, along with increased bandwidth, will enable retailers and brands to collaborate in new ways.

Adweek predicts 5G will disrupt retailing by enabling in-store purchases via AR mirrors, distribution of long-form video content via MMS, foldable multi-screen devices and even location-based delivery.

Programmatic advertising will get a revamp

We’ve discussed how 5G will open up new avenues for data-driven marketing campaigns, but the current programmatic advertising infrastructure will also change as demand grows.

Open X, a programmatic advertising company, says it currently handles 100 billion ad requests per day. That number may seem high, but when 5G arrives, brands, retailers, and other companies will request programmatic ads even more. Advertisements will load faster and richer audio and video experiences will be possible, giving brands even more reason to invest in programmatic advertising.

Programmatic advertising costs could change as well. More demand could lead to higher prices, but advertisers and publishers also predict there will be more ad formats and pricing options to choose from as well.

Marketing across multiple devices will be a must

With 5G, more consumers will access the internet on more devices at the same time. While the interaction between devices includes smartphones, desktop, and laptops, smart home and voice-enabled devices powered by the IoT will be accessed more frequently as well.

To reach users across all their devices, marketers will have to identify them. Tools like BDEX’s ID Graph, which uses 100 percent deterministic cross-device matching, will become indispensable.

Marketers that fail to prepare could get left in the dust

It’s important to recognize that even though 5G is expected to change how marketers approach data-driven marketing, it will take years to reach the average consumer. In its downloadable report “The 5G era in the US,” the GSMA estimates 5G won’t become the leading mobile network technology in the United States until 2025 when it’s expected to account for about half of mobile connects.

That gives marketers plenty of time to prepare. Whether your company is a startup or a multi-million dollar establishment, the BDEX DXP has an audience and other datasets across more than 500 industries, making it an ideal resource for marketers who want to get ahead and start reaching more potential customers now.

By combining the functionality and reach of a traditional DMP in a true marketplace environment, BDEX enables companies to create and target audiences like never before. Contact us today to learn more.

Using BDEX to Navigate Digital Transformation on bdex.com

Using BDEX to Navigate Digital Transformation

Whether your organization’s MarTech integration efforts are going smoothly or have created a Frankenstein stack, BDEX has the third-party data solution it needs.

Global CMOs are getting stretched thin these days. On top of their traditional mandates of lead generation and brand building, they are being asked to find and implement technologies needed to extract marketing intelligence from the growing torrent of data their organizations produce each day.

The complexity and dollars involved in this digital transformation make it a high-risk/high-reward undertaking. CMOs who succeed stand to create powerful data marketing platforms, turbo charge their real-time personalization efforts and gain a step in the MarTech arms race. Those who fail, risk squandering millions of dollars in resources creating what the industry has lovingly come to call a “Frankenstein stack.”

Nearly all – 96 percent – of respondents to the Marketo 2017 Marketing Benchmark Report agreed that the task of finding and integrating MarTech solutions can distract CMOs from their primary mission of helping acquire and keep more customers.

Such is the price we pay when it comes to learning how to implement new technologies, and indications are that global brands are still in the early days of their digital transformations. CMOs, it would appear, will have to keep tabs on multi-million-dollar, multi-year IT integration projects on top of their day jobs for years to come.

Where BDEX comes in

The good news is that thanks to BDEX, CMOs and the brands they represent don’t have to miss a beat during this tumultuous period. They can rely on BDEX to fulfill all their U.S. consumer data needs whether they are halfway through their digital transformation, have completed it or plan to forego it and continue relying on agencies and other vendors for marketing data.

BDEX can say this because of how we have integrated an unparalleled network of third-party data providers with an extremely robust ID graph and uniform taxonomy to power human connectivity.

The BDEX ID Graph

These all come together via the BDEX ID Graph, which tags all data signals coming in from our partners in real-time using a uniform taxonomy that spans more than 5,500 tags and 500 industries. This enables us and our customers to query nearly a trillion real-time data signals from more than 70 data providers using the same taxonomy.

On top of this, the BDEX ID Graph constantly reviews logins, app downloads, credit card purchases, and other authenticated real-time signals to make sure the incoming data signals are matched to the right Customer ID.

We do this by building one of the industry’s largest cross-referenced libraries of email addresses, mobile device identifiers, browser cookie IDs and U.S. Postal addresses. Our library spans 800 million mobile-to-email ID and cookie-to-email matches. If someone upgrades from an iPhone 8 to a Samsung 10 or switches from a Google Pixelbook to a Microsoft Surface, the BDEX ID Graph detects it the moment the user downloads an app or logs into an authenticated account tracked by any one of our data partners.

Our use of authenticated identifiers enables 100 percent deterministic cross-device matching, which means you can have 100 percent confidence our ID graph is assigning billions of incoming data signals to the appropriate Customer ID.

The BDEX DXP

Thanks to the BDEX ID Graph and our uniform taxonomy, the BDEX Data Exchange Platform (DXP) presents 290 million consumer identities, 1.3 billion email addresses and more than 900 billion data signals in a highly searchable database.

You can peak under the hood and get a sense of how broad and deep our data is using Explore BDEX Taxonomies, our free and highly intuitive taxonomy tool.

API or batch-mode access

Thanks to our uniform taxonomy, querying this massive database is quick and easy. You can match IDs instantly (10ms response time) using a real-time API query or upload ID lists via batch mode and have IDs returned in hours.

Custom segment building

Either way, you can harness real-time data signals to build or enhance custom audience segments for programmatic advertising, personalization and other projects.

The BDEX DXP provides access to hundreds of pre-built audiences uploaded by our partners. You can use these to fast-track your own audience-building efforts or use them as is until you whip your own MarTech stack into shape.

Whether your organization’s MarTech stack ends up humming like a Lamborghini or shrieking like Frankenstein, or your organization opts to continue relying on agencies and other external vendors, it’s going to need access to third-party data. You’ll be hard-pressed to find a better one-stop shop for that than BDEX.

To learn more about how BDEX helps marketers maximize ROI, visit the BDEX solutions page.