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 Many companies rely on common, outdated resources that only provide traditional data or predictive analytics.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

Real-Time Data Is Getting Real Important Really Fast on bdex.com

Real-Time Data Is Getting Real Important Really Fast

One the most important steps to launching programmatic advertising is ensuring access to comprehensive, accurate and accessible real-time data. After all, when it comes to data marketing, it’s garbage in, garbage out.

As programmatic advertising and other types of real-time marketing become more widespread, having 24/7 access to accurate real-time data is going from a nice-to-have to a must-have for global CMOs.

Even the World Federation of Advertisers (WFA), which has been pushing the ad tech industry for greater accountability on behalf of global brands, estimates its members spent 28 percent of their digital media budgets on programmatic advertising in 2018. That was up from 17 percent in 2017 and 9.5 percent in 2014, according to WFA membership surveys.

Real-time marketing allows brands to serve the right content to the right person on the right device at the right time to help close the sale or move the consumer further down the sales funnel. This is made possible by real-time analytics and ad server technology that enables brands to respond in milliseconds to signals consumers send during their omnichannel journey.

Concerns about transparency and GDPR notwithstanding, brands are reporting tremendous lifts in traffic, open and conversion rates from programmatic campaigns.

Office Depot was able to increase revenue $6.9 million in four months by personalizing content on its product detail pages, according to personalization software maker Monetate. A luxury travel site was able to increase email sign-ups and catalog requests 8 and 3.6 percent respectively by using Monetate to personalize content for visitors to its web site.

In the United Kingdom, the wireless carrier O2 used usage, device and location data from customer’s mobile devices to show them the trade-in value of their devices, the best upgrade deals available and what customers like them generally preferred upgrading to, reports GlobalWebIndex.com. The result: a 128 percent lift in click-through rates.

The next wave

Real-time marketing continues to evolve right alongside human behavior, which has shown an amazing ability to adopt new technology. Less than five years after Amazon introduced Alexa and began shipping the Echo, more than 66 million smart speakers have been in installed in the United States, including 30 million installed in 2018. To get a sense of the dizzying pace of adoption, check out Voicebot.ai’s Voice Assistant Timeline.

Given predictions that half of all searches will be voice searches by 2020 and that only 8 of every 100 will request audible-only search results, this has huge ramifications for programmatic advertisers. Imagine, for instance, that you have an opportunity to serve the lone audible search result to a consumer who has commanded Alexa to “read me” the results of their voice search for “the most fuel-efficient 2019 SUV model.” How valuable would that be to your business?

One study estimates American consumers purchased $1.8 billion in goods via “voice commerce” in 2017 and forecasted that number to grow 20 fold by 2022.

Nearly one in four (37 percent) new smart speaker owners surveyed for The Smart Audio Report in July 2018 Research said they used it for pre-purchase research.

“This begs the question of how many product sellers are actually ready to serve up information in response to voice queries about their product or category,” Voicebot.ai Editor and Publisher Bret Kinsella wrote at the time. “The answer is very few.”

Garbage in, garbage out

While it will take years to sort out the ideal formats, pricing and attribution models for “read me” voice search ads, forward-thinking advertisers, agencies, publishers and Ad Tech companies are already using the BDEX Data Exchange Platform (DXP) to tap voice search and other real-time data signals to improve their real-time targeting. Thanks to nearly 100 partners, the BDEX DXP contains nearly 1 trillion data points on tens of millions of U.S. consumers. More importantly for programmatic advertising, the BDEX ID Graph uses 100 percent deterministic matching.

This last point is critical because we believe the biggest challenge facing CMOs today is the poor quality of most marketing data. We spent the last five years building a data infrastructure to provide the data brands and retailers need to know and serve their customers better. Today nearly 100 partners contribute data to our DXP.

At BDEX we call this building the “data infrastructure that powers human connectivity,” and we are convinced it will foster the highly personalized and inobtrusive brand experiences consumers want.

Surveys like Deloitte’s 2018 Ad Blocking Report, show that the Ad Tech industry has so far fallen far short of delivering that experience.

BDEX is committed to building the infrastructure that powers human connectivity. Thanks to more than 100 partners, our the BDEX Data Exchange Platform (DXP) marketers can choose data from over 5,500 categories, including shopping, sports, health, recreation, and science. We have over 900 billion data points on U.S. consumers, with half coming from industry-leading sources like Acxiom and Neustar and half coming from real-time custom tags. Why not call BDEX today to see how we can help you launch or improve your real-time marketing.

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