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 Many companies rely on common, outdated resources that only provide traditional data or predictive analytics.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.

Marketing: How Data Drives Human Connectivity on bdex.com

Marketing: How Data Drives Human Connectivity

Big brands are using data to build better connections with their customers. Learn why user data is now a crucial part of any brand’s marketing strategy, and how the BDEX DXP drives human connectivity

Many major brands out there are using data analytics to gain valuable insights from what people are buying, their interactions with products, and other shopping behaviors. These data points then inform how they structure their marketing tactics, and the customer remains the most important part of their strategy.

But these companies often have just one way of connecting to customers, whether with email newsletters or through their website. These brands may know that data collection is important, but they don’t know how to use it to the best of their advantage. Savvy operators are finding ways to match user IDs across channels instead of just interacting one way.

Here are examples of how brands are using data in their marketing strategies to develop crucial new opportunities for connection.

Pinpointing what drives customers’ behaviors

Data analytics can now provide invaluable insight into not just what users do, but what they want. A great example of this in action is the company Stitch Fix. This online clothing retailer sends personalized boxes to customers with different clothing and fashion items, and customers can pick and choose what they keep from the selection.

Stitch Fix has implemented advanced data technology that allows them to see what the customer has been shopping for, what they actually end up buying, and what they don’t keep from the preselected bundle. The company’s technology is also able to show them why the customer chose not to keep certain items.

Homing in on user preferences

Many big brands, such as Netflix and Coca-Cola, gather as much data as they can from the customer by asking them questions along their product path. Netflix sends suggestions to users for movies and television shows based on what they’ve watched in the past. Netflix can then see what their users choose to watch and what their preferences are, and use that information to inform their strategy. This helps brands create successfully targeted ads.

Location-based targeting

Another benefit of using data in marketing strategy is the ability to adapt products to a specific demographic, living in a specific location across the globe.

For example, Adidas released running shoes that are specifically made for runners living in big cities. They used data such as weather patterns and terrain to design shoes that inhabitants would be drawn to.

Survey data

Another effective way to gather and use customer data is through survey research. This approach can reveal something as simple as a flavor preference across a population.

Mars and Alibaba paired up to evaluate consumer research using a survey, in tandem with Alibaba’s user data, which ended up showing that their consumers wanted more spicy flavors. They created a fiery version of the Snickers bar to meet this growing preference.

Integrating humorous trends

Two big brands used data to discover that their users are quirky, so they cranked up the humor in their marketing campaigns. OkCupid found when mining through user data that 888,000 usernames contained the word “cat,” outnumbering the dog lovers. The online dating company used the data in an entertaining blog post to explain why they ended the use of usernames in their app.

Spotify found that many of their listeners create weird playlist names and exhibit odd music preferences, so they build campaigns to play on that tendency. One of their ad campaigns, for instance, honored “the 3,445 people who streamed the ‘Boozy Brunch’ playlist on a Wednesday this year.”

These are great examples of how brands are using data to truly connect with their customers. Using humor can be a fun and effective strategy to connect with people of any generation.

How BDEX can help

At BDEX, our data helps power human connectivity. The BDEX Data Exchange Platform (DXP) can use customer IDs to create a multichannel strategy for companies to better reach their audience, whether through social platforms, email, mobile or postal – not just through a single venue.

The BDEX DXP is simple to use: You just decide if you want to reach mobile, email, and/or other user types, and you choose from nearly 500 different industries and over 5,500 different categories. We have over 900 billion data signals from consumers in the U.S., and those customer IDs can be linked across platforms with our 800 million connections between email, mobile, and cookie IDs.

Our platform helps brands connect with their ideal audience, making real-time targeting that much more efficient. Keep putting the customer first and fostering those valuable human connections with BDEX DXP.

To learn more about our data, get in touch with our team.

The Martech Training Boom on bdex.com

The Martech Training Boom

The Martech arms race is creating tremendous demand for trained and certified digital marketing professionals. Trade organizations, for-profit companies, colleges, and universities are responding with a growing array of online and in-person options.

One of the primary challenges facing CMOs today is developing in-house digital marketing expertise needed to harness the power of in-house and third-party data.

Many companies are working to bring core data marketing technologies as well as digital marketing and advertising functions in-house. The effort will require not only spending billions of dollars on IT infrastructure but training or recruiting thousands of employees needed to build, maintain and run highly complex and often AI-enabled systems.

Marketers need new skills

A traditional marketing or advertising education consists of a bachelor’s degree in advertising, marketing, or journalism, with classes on consumer behavior, market research, sales, and the like. As marketing has become increasingly data-driven, marketers must continually build upon that foundation by becoming fluent in a wide and rapidly changing array of technologies and platforms.

Today’s marketing ecosystem is complex and poised to get more so as data continues to grow exponentially. In 2019, digital voice assistants and smart TVs will swell the amount of real-time data signals available to marketers. As the torrent of consumer data grows, companies need employees who can decide which data matter and how to integrate it into an increasingly complex data marketing infrastructure and strategy.

To stay competitive, CMOs are increasingly turning towards training and certification programs. Below we highlight just a few being offered by reputable trade organizations, companies, and academic institutions.

MarTech® Conference Workshops

MarTech® offers a variety of workshops at its conferences designed to provide marketers a deep dive into such topics as agile marketing, customer data platforms, buying marketing technology, creating connected experiences, or building a marketing team with talent optimization. Workshops offered at MarTech’s recently concluded conference in San Jose, California included “The Right Way to Buy Marketing Technology,” “Using CDP to Make the Most of Your Customer Data,” and “Agile Marketing Advantage.” The company’s next conference, MarTech® East, is scheduled to take place in Boston in September 2019.

IAB training certifications

The Interactive Advertising Bureau (IAB) offers certifications in Digital Media Sales, Digital Media Buying and Planning and Digital Ad Operations.

More than 9,500 participants representing more than 300 publishers, agencies, and ad technology vendors have enrolled in IAB’s certification programs since they were established in 2012. Many of the nation’s leading media companies—including AOL, Bloomberg, CBS Interactive, Collective, Condé Nast, Discovery Communications, NBCUniversal, Time Inc., Time Warner Cable Media, and Tremor Video—have pledged to have all eligible digital sellers across their organizations become IAB-certified.

The Digital Media Sales and Digital Ad Operations programs earned the American National Standard Institute’s (ANSI) first accreditation in digital advertising in 2015. The ANSI accreditation process, based on international benchmarks, increases the integrity, confidence, and mobility of certified professionals, and represents the highest standard in personnel certification.

Shoptalk

Shoptalk launched two education initiatives at its 2019 conference, which drew 8,400 people to Las Vegas from March 3-6. The first is a standardized set of sessions referred to as Shoptalk’s Core Curriculum, which covers many of the fundamentals of retail and will be repeated annually with updated perspectives and examples.

Shoptalk also launched an Annual Retail Education Certificate which is awarded to those individuals who complete 10 credits of continuing education at Shoptalk conferences. This certificate helps recipients distinguish themselves at a time when there is a significant divide in retail industry professionals’ knowledge of digital innovation.

Collegiate degree and certificate programs

A growing number of academic institutions are offering certification programs, ranging from community colleges to elite business schools such as Wharton at the University of Pennsylvania and the Kellogg School of Management at Northwestern.

Duke University has partnered with Simplilearn, an online training provider, to deliver a curriculum that provides students with advanced knowledge of the eight most important digital marketing domains and includes real-world projects and virtual simulations for practical experience. The program offers hands-on simulation labs and projects for practical learning with 350 combined instruction/study hours. Completion of the program meets the course criteria to sit for the Online Marketing Certified Professional certification exam.

As one of the world’s first data exchange platforms, BDEX is dedicated to building the infrastructure to power human connectivity. Contact us today to learn how we marketers access the best third-party data inexpensively, quickly and easily.

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.

MarTech M&A Accelerates on bdex.com

MarTech M&A Accelerates

Could the big surge in MarTech deals last year signal the end of one wave of consolidation and the beginning of the next? Either way, it’s clear brands are more focused on harnessing data to connect with customers than ever.

In a synopsis of 465 mergers and acquisitions that took place in the advertising and marketing world last year, the consulting and publishing firm R3 Worldwide concluded that the consolidation that swept through the agency world in recent years finally spilled over, into and around the MarTech stack.

R3 estimated global M&A spending in the industry rose 144 percent to $33 billion in 2018 but noted that only 20 percent of transactions completed involved a global holding company. The overwhelming majority of growth came not from a global holding company acquiring an agency but from what R3 dubbed “unconventional buyers” targeting MarTech companies.

“M&A activity in 2018 signaled that the grand view of MarTech is becoming actualized and 2019 will be about how companies move beyond facilitating the intersection of marketing technology and management to real integration into the enterprise,” Greg Paull, principal and co-founder of R3, wrote in the report.

The activity is being driven in part by global CMOs, who after years of experience with digital marketing are opting to bring more expertise and technology in-house in a bid to extract more value from their own data and streamline sprawling – and often less-than-transparent – marketing supply chains.

Consolidation hits the MarTech Stack

In terms of targets, personalization remains front and center, as evidenced by Walter J. Thompsons merger with Wunderman. The two companies said they combined to create a one-stop, data-driven creative shop capable of meeting the needs of global brands.

“We already share many core clients, who will now have simpler access to our combined expertise,” the companies said in a joint statement announcing the merger. “And, as technology reshapes marketing, we have existing partnerships with Adobe, Amazon, Google, IBM, Microsoft, Salesforce, and SAP.”

Adobe spent $4.5 billion to acquire Marketo, while Salesforce.com acquired Cloudcraze in deals each company said was aimed at bringing MarTech to the lagging B2B sphere. Forrester predicts that U.S. B2B commerce will grow from $889 billion today to $1.2 trillion by 2021.

“The imperative for marketers across all industries is a laser focus on providing relevant, personalized and engaging experiences,” Adobe’s Executive Vice President and General Manager Brad Renche said of the $4.5 billion deal to acquire Marketo. “The acquisition of Marketo widens Adobe’s lead in customer experience across B2C and B2B and puts Adobe Experience Cloud at the heart of all marketing.”

Salesforce also gobbled up Mulesoft to help companies unlock data across legacy systems, cloud apps and devices; as well as Rebel, which allows brands to “turn emails into an extension of their website or app – collecting data, removing friction from the conversion process, and enhancing the customer experience.”

Smaller, but potential seminal deals included Singapore-based InMobi’s decision to acquire Reserve for $90 million and as part of its plan to launch the world’s first, largest and most transparent in-app and video programmatic exchange.

What do these M&As signify for the industry?

The deals signaled an acceleration of consolidation in the MarTech space being driven in large part by global CMOs eager to rationalize their marketing supply chains. Clearly, investors have heard their plaints and are rushing to stitch together companies that can provide integrated solutions spanning the entire length of the customer journey from content marketing to programmatic advertising, check out and customer loyalty programs.

The quest for ever deeper levels of personalization was apparent in both the Adobe and the Wunderman Thompsons deals, which hinge in part on the bet that data can be used in new ways to not just automate marketing but inspire creativity.

The BDX data difference

The one thing all these deals have in common, of course, is that they will either add to the volume of third-party data or rely on it to succeed.

As one of the world’s first data exchange platforms, BDEX stands ready to help marketers access the best of that data as inexpensively, quickly and easily as possible. Our 100 percent deterministic cross-device matching and a uniform taxonomy spanning more than 5,000 industry categories enable us to verify and aggregate more than 900 billion data signals generated by tens of millions of U.S. consumers in real time.

We do this so marketers can focus more on marketing and less on scrubbing data – or who owns which layers of their marketing stack.

Why not call 917-410-6616 or contact us today to see how BDEX is building the infrastructure for human connectivity that can help take your personalization, real-time targeting and other marketing initiatives to the next level.