2018 Year in Review. Data Overload on bdex.com

2018 Year in Review. Data Overload

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

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

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

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

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

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

The BDEX advantage

BDEX is Not a Typical Marketing Data Company

The BDEX Data Difference

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

Why a Subscription Model Makes Sense for Targeted Marketing Data

How BDEX powers human connectivity

Find Your Ideal Customers with Our Taxonomy Explorer Tool

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

Getting the Channel Mix Right in Target Marketing

Which Vehicles Will Drive the Success of Your Marketing Campaign?

How specific industries use BDEX to connect

Data-Driven Direct Marketing for Auto Dealers

Customer Targeting Made Easier for Media Companies

How Can Retailers Better Target Customers?

Automotive Marketing Case Study: Maher Chevrolet

How BDEX sees the future

AI on Target to Change the Way We Market

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

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

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

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

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

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

Out with the old

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

In with the new

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

Always authentic data

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

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

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

Get the most out of your 2019 marketing budget

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

BDEX is Not a Typical Marketing Data Company on bdex.com

BDEX is Not a Typical Marketing Data Company

We make a point to know our customers so they can know theirs better

Although data analysis for marketing purposes is relatively new, there are now numerous companies that sell data and associated services to businesses. The problem, though, is that while plentiful, often much of this data is worthless – because it’s old, unreliable, or just not relevant.

Most companies don’t work closely enough with their customers to find the right data, and once they make a sale, they often don’t care whether or not it was useful. However, this is where BDEX stands out from the pack.

The BDEX difference

At BDEX, we take a consultative approach with our customers. This involves getting to know them in order to get a clear understanding of who their customers are and who they’re trying to reach. But we also dig much deeper. To determine if someone is an ideal prospect for our clients, we look at behaviors and intents.

Are individuals in the process of looking for a business’s specific product or service? If so, how and when are they searching? It’s at that point that we look at the data signals that indicate certain behaviors.

When we identify the right data signals, we start building the proper filter for our customer. In addition to the exact signals, we also look at a specific geographic region. One of the best aspects of our process is that it’s almost completely turnkey. We make it extremely simple for our customers. And once the filter is built, we start sending them data that is very easy to read and utilize.

Comprehensive reports

Our team of data experts creates and distributes regular reports for our customers. These involve the agreed-upon signals and geographic region that show how many consumers can be reached per month, along with their costs. They can also get files daily, monthly, or weekly with the names, addresses, phone numbers, and emails of the people whom they want to market to.

Real-time behaviors, not predictive analytics

One company we work with does a lot related to the furniture industry. After determining who their customers are and who they want to target, we thought about when people decide to buy furniture. Often this is related to certain life events, such as when someone has a baby or when they move. We began to identify the signals that show that someone may need new furniture. And, unlike most data companies that use predictive analytics, we look at real-time behaviors.

For example, if someone visits a real estate website, we will know it almost as soon as it happens. This could be an indication that now is a good time to reach this person, as new furniture often accompanies a home purchase. And when it’s coupled with other real-time signals – such as actively shopping at a competing furniture store – the data becomes incredibly precise and powerful.

In addition to businesses that sell furniture, this information is also relevant to financing companies. Before someone moves – or even before they buy a new home – they can be presented with financing offers, giving them an incentive to go to a specific furniture store when they’re ready to buy.

Quick adaptations

We understand that our success is based on the success of our customers, which is why we don’t just supply data and walk away. We always make a point to follow up to talk about their marketing results. If things need to be tweaked, we will make the necessary changes or adjustments. In most cases, customers want to expand what they’re doing with us because they see how effective it is.

If your company’s marketing efforts are too broad, BDEX can help you narrow them so you are just targeting customers who are ready to buy right now. Contact us to get started.

Find Your Ideal Customers with Our Taxonomy Explorer Tool on bdex.com

Find Your Ideal Customers with Our Taxonomy Explorer Tool

See how quickly you’ll be able to gain valuable insight

These days, it’s impossible to talk about marketing without mentioning data. We now live in a world where almost everybody has information somewhere online, and smart organizations know that most of it is readily accessible.

It used to be difficult for businesses to gather detailed data on their customers, but that’s no longer the case. In fact, one of the biggest issues now is the opposite: there’s just too much of it. You can easily collect pages and pages of demographics, past behaviors, and numbers, but then there’s the matter of wading through everything in order to find the stuff that’s relevant to your business. And when you do find what could be useful, it may be outdated, incomplete, or too vague.

The key to using data effectively is specificity.

It’s not enough anymore to get a general idea of the wants and needs of your customers; painting them with a broad brush won’t give you the results you are looking for. But knowing what individual people are interested in buying can immediately give you the most fruitful leads, and this is where our Taxonomy Explorer tool can be a huge asset.

How the Taxonomy Explorer tool works

At BDEX, we have more than 900 billion data points businesses can use. While that’s certainly a lot of data to sift through, our Taxonomy Explorer tool makes it simple to find detailed and pertinent information. This allows you to locate your ideal customers while saving time and money.

Unique users

The first thing to think about when utilizing the Taxonomy Explorer is what type of unique users you’re looking for. You can search for people through email, mobile devices, browser cookies, and postal addresses. You can choose one, all, or a combination.

Industry

The next step is selecting an industry. We have more than 300 industries to pick from, and you can also put in a search term to narrow down the results. For example, let’s say that your business involves something related to kitchens. Choosing Home/Kitchen from the list – with every user category selected – brings up a total dataset class of over 74,000.

Digging a little deeper

Okay, so now you’ve got 74,000+ possible people to target, so you’ll want to whittle this number down to find your ideal customers. Just keeping the Email box checked immediately cuts the list to about 17,000. If you’re interested in using direct mail for marketing purposes, you’ll see that around 10,000 of these consumers have postal addresses you’ll be able to get. For strictly mobile purposes – both AAID and IDFA – that number goes back up to just over 39,000.

See what your customers are up to in real-time

One of the biggest benefits of this targeting is that you can learn about individual search and buying habits as they are happening. For example, if certain individuals buy a cookbook online, you will know about it immediately. And, if you sell cookware, you can right away serve them an ad or send a promotion for your products. Real-time targeting will get you on someone’s radar exactly when they’re in the buying mood.

Find customers wherever they are

In addition, through cross-device matching, you can keep tabs on buyer behavior across all of their devices, including computers, tablets, and phones. This also includes other avenues, such as browser cookies, email address, and postal address. No matter what they’re doing or where they are, you will be able to find people who are most interested in what you’re selling.

Take our Taxonomy Explorer tool for a test drive

Whatever industry your business is in, our database is almost certainly full of people who would make great customers. Test it out here, and for more information, please contact us.

The Importance of Cybersecurity for Your Company’s Data on bdex.com

The Importance of Cybersecurity for Your Company’s Data

Is your information – including your marketing data – safe from cyber-attacks?

In this digital era where data containing private information is stored in the cloud or on in-house servers, cybercrime has become one of the most pressing issues around the world. Brazen cyberattacks have become big news, from those targeting retail chains and highly-trafficked websites to the data breach at Equifax, one of the main credit rating agencies, which compromised nearly 150 million people.

It is clear that data firms and the organizations that use that data need to be vigilant and take greater steps to protect their information from hackers and cybercriminals.

The cornerstone of cybersecurity is PDR

The key to protecting data is PDR: Prevent, Detect, and Respond. Companies must establish protocols to detect and stop breaches from within and from outside sources. This should include software that can detect anomalies within the system and employee education about cybersecurity.

Using data analytics to protect your data

Data analytics can detect patterns. In the case of BDEX, it’s used to spot real-time consumer activity both online and in brick-and-mortar stores. BDEX data tells you that someone has been searching for a new car, purchased concert tickets, or bought baby food.

A similar technology can also be programmed to search for anomalies in device behavior to detect potential breaches. In other words, the same programs that search for buying patterns can be taught how to spot abnormal or suspicious network behavior. Systems can be programmed to detect threats from someone using an unknown signature. Analytics programs can also collect data from various sources and silos to “learn” how different kinds of attacks occur – so those attacks will be quickly recognized and shut down.

Employee activity monitoring and training

Though no one wants to think that an employee could be the source of a cyber attack, it is a very real possibility. In fact, the Harvard Business Review cited a 2016 Cyber Security Intelligence Index from IBM, which found that “60% of all attacks were carried out by insiders. Of these attacks, three-quarters involved malicious intent, and one-quarter involved inadvertent actors.”

Data analytics can be used to detect unusual activity on the part of employees, such as downloading large amounts of data or activity that takes place at unusual times. But as critical is training employees basic cybersecurity, such as not exchanging sensitive data over unsecured networks and how to avoid vishing and phishing attacks. Vishing is when hackers try to “human engineer” their way into getting credentials or other information through a phone call, while phishing attempts the same thing using fraudulent emails that spoof reputable senders.

Employees should only accept emails that:

  • Come from someone they know
  • They expected to receive
  • Look normal with no unusual email addresses, spellings, wording or suspicious content or links
  • Pass anti-malware tests

Employees must understand the risks of certain behaviors, such as clicking unknown links, downloading content or software from unknown or unverified sources, and visiting certain websites. Any of these behaviors can lead to computers becoming infected with a virus or malicious software that can corrupt or steal data.

There should also be proper training in document management and data management, as well as training on how to recognize and report computer problems that could be related to a virus, malware, or other threat.

Monitoring outside threats with intrusion detection

Many types of threats come from beyond the perimeter of your company’s network. Companies must have adequate perimeter protections to stop the intrusion, which typically involves a professional-grade firewall. Other security steps include using multi-factor authentication, which requires at least two distinct forms of identity to log in to a system, and the use of data encryption. Encryption is particularly valuable, as even if hackers successfully steal data, they simply can’t read or use it without the encryption key.

Cybersecurity is now crucial – and growing in importance

With cybercrime costing organizations and individuals as much as $600 billion in 2017 alone, security is more important than ever. It is essential that every company take action to prevent, detect and respond to cyber attacks. From data analytics designed to spot threats to adequate employee training, being vigilant now may safeguard your data – as well as your company’s reputation.

BDEX provides 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 next marketing campaign.

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.