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

AI on Target to Change the Way We Market on bdex.com

AI on Target to Change the Way We Market

6 ways artificial intelligence could impact target marketing

Artificial intelligence (AI) is one of the most talked about and promising technologies today. While many individuals think it still exists mainly in the realm of science fiction, AI is actually very much part of the real world now. It’s becoming increasingly more sophisticated and the number of industries using the technology is growing, including professionals in marketing and advertising.

First, what is artificial intelligence exactly?

Artificial intelligence is widely misunderstood, mainly due to Hollywood movies featuring robots that try to take over the world. Think The Terminator or HAL from 2001: A Space Odyssey. In today’s actual, practical applications, AI technology makes it possible for machines to “learn” discrete tasks much as humans do. Think with Google describes it this way: “Artificial intelligence is the study of how to make machines intelligent or capable of solving problems as well as people … with machine learning, we teach computers to learn without having to program them with a rigid set of rules.”

Here are 6 promising ways AI is (or will be) used in marketing and advertising:

1.  AI can be used to create customizable ad campaigns

AI is a tool that will allow marketers to tailor ad campaigns based on consumer intent at the moment. “We’re getting closer to the point where campaigns and customer interactions can be made more relevant end-to-end – from planning to creative messaging to media targeting to the retail experience,” according to Think with Google.

BDEX already has the technology to target customer behavior based on real-time data such as online searches, geofencing, and in-store POS purchases. When this data interface with full-developed AI, what you do with it will become automatic.

2.  AI can allow you to set up custom ad impressions

AI is already present in marketing tools that use custom algorithms to increase the number and relevancy of impressions that are served to potential consumers online. By using historical data and online search data, programs learn to predict consumer behavior and then automatically show ads that are most relevant to prospects at that time.

3.  AI can help you create programmatic advertising

Programmatic advertising is a promising new technology that has a lot of marketers excited. This tool allows you to buy digital advertising space automatically after AI analyzes data to determine which ads to buy. Demand-side platform (DSP) and supply-side platform (SSP) work together to match the right ad to the right audience. AI can analyze online behavior to create an instantaneous campaign that is optimized to a specific user.

4.  AI can create responsive search ads

Along with customizable and programmed ads, AI can also be used to create something called responsive search ads. It’s a technology being employed by the Google Marketing Platform. You submit 3-15 different ad layouts, along with meta-descriptions for each ad. Google will combine their data with your ad parameters and use it to determine which ad should be displayed for a particular user. The ad that’s displayed is different for everyone, as it’s based on his or her search history, habits, and preferences.

5.  AI can help create and curate ad campaign content

Although it’s hard to imagine a computer coming up with creative ideas, it has been done successfully. “Toyota recently started to create AI-generated ads …They were able to generate a system that created realistic-sounding lines that they were able to implement in their marketing,” reports Target Marketing Magazine.

AI can also be used to create visual content, such as videos, commercials, and in-store promotions displayed on digital screens.

6.  AI can help you test different ad campaigns

AI is capable of automating complex tasks like A/B testing to gauge the effectiveness of various marketing campaigns. It can get feedback in many different ways and formats and then determine the success or failure of a specific campaign based on a vast array of metrics. This same concept can also be applied to data that is supplied by BDEX. Our customers often want to be able to adjust their marketing campaigns based on different data signals; let’s say you choose four different data signals and run unique campaigns based on each segment. You can monitor the performance of each campaign and then use algorithms to decide which one is working the best for each data source. The essential promise of AI is that it can iteratively learn which data signals are the best predictors of behavior and the success of a campaign – at a much higher volume and a much faster pace, automatically.

Artificial intelligence is technology that is changing the way marketers and advertisers interact with and reach potential consumers. Some of it is future tech, while much of it is being used now.

BDEX also offers new and innovative ways to reach your target audience through the use of comprehensive, real-time data. Contact us to today to learn more.

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

Which Vehicles Will Drive the Success of Your Marketing Campaign?

The pros and cons of marketing media

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

Choosing the right marketing media

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

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

Email marketing

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

Here are more email marketing statistics from HubSpot.com:

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

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

Online and social media campaigns

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

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

Direct mail marketing

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

Phone marketing

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

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

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

Better Sources Mean Better Marketing Data on bdex.com

Better Sources Mean Better Marketing Data

Making sure you get the best data

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

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

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

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

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

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

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

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

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

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

Automotive Marketing Case Study: Maher Chevrolet on bdex.com

Automotive Marketing Case Study: Maher Chevrolet

How data insights from BDEX led directly to increased car sales

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

Old methods just don’t work anymore

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

Maher needed a new approach to finding the right customers

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

How BDEX helped Maher identify ideal buyers

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

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

What were the results?

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

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

Increase your car sales with actionable data from BDEX

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

Taking Control of Your Data on bdex.com

Taking Control of Your Data

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

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

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

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

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

You need a platform to organize and monetize your data

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

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

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

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

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

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

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