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

5 Ways 5G Will Affect Data-Driven Marketing

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

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

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

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

New marketing mediums will emerge

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

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

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

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

Marketers will have access to more real-time data

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

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

Programmatic advertising will get a revamp

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

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

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

Marketing across multiple devices will be a must

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

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

Marketers that fail to prepare could get left in the dust

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

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

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

Using Real-Time Data to Build Brand Loyalty on bdex.com

Using Real-Time Data to Build Brand Loyalty

Customer marketing focuses on retaining and enriching the customer relationships you already have, and the more competitive your industry is, the more you are going to need real-time data.

At BDEX we talk about how we are building the data infrastructure that powers human connectivity by delivering the right insight into the right people at the right time – to close the sale. But the value of our real-time data goes far beyond that. It can be just as valuable for building customer loyalty as for audience segmentation and targeting.

In fact, learning how to integrate real-time data into customer marketing could be a great way to pull away from competitors, particularly in more mature industries where customer loyalty is critical to sustaining growth. Research from Forrester and DataStax has shown that 95 percent of companies can’t yet make sense of customer data, and thus they struggle to pull any meaningful, real-time insight out of it.

Targeted marketing vs. customer marketing

The term “customer marketing” may seem redundant since all marketing is aimed at customers. But in this context, we are using the term to refer to marketing to existing customers rather than targeting new ones.

Targeted marketing markets products or services to potential customers, not current customers based on known preferences and behavior.

Customer marketing aims to not just retain customers but keep them buying repeatedly and success hinges on integrating data that is often scattered throughout an enterprise. For instance, product marketing and management and account management, as well as the customer marketing team, need to work together to build a single customer database.

Each team on its own wouldn’t have all the information about what customers value most and what brings them the most satisfaction, all of which are factors that lead to brand loyalty. In a study from the CMO Council, almost half of marketers still fail to deliver “contextual, personalized engagements” across points of contact.

Often, marketers can get that context more quickly by partnering with high-end data exchange platform like BDEX, which aggregates and classifies billions of real-time data signals from dozens of vetted partners using a uniform taxonomy to help marketers quickly build custom audiences.

Enhancing the customer experience

The first consideration for customer marketing should be enhancing the customer experience across all touchpoints to create a seamless and immersive brand experience. This will lead to greater customer loyalty, which will lead to repeat purchases and lifelong customer relationships.

A report released from Motista showed that emotionally connected customers are much more valuable to brands overall. These loyal customers spend up to two times more than other customers, have a 306 percent higher lifetime value, and stay with a brand for 5.1 years on average.

So, how do you enhance the customer experience and foster customer loyalty in 2019?

One way is to find new ways to use real-time data to push further toward true 1:1 customer personalization.

For instance, you could layer real-time data signals available from third parties on top of your existing customer data to enhance the product recommendation engine on your online store.  Personalizing recommendations can make the difference between a returning customer making add-on purchases and abandoning their shopping cart.

Or you could make a commitment to omnichannel personalization. This involves using cross-device matching and real-time data to tailor content not just to the customer’s preferences and behavior, but to the channel being used to present a consistent and integrated customer experience. This means adjusting content to exploit the strengths of each channel, whether that be email, text messages, an online store or SERP, a mobile app, an addressable cable TV box, digital signage, smart appliances or direct mail. This capability will become more critical the more humans become enmeshed in the Internet of Things and it’s only possible when you have access to the technology listed below.

Identity resolution

Your organization likely already has a data gathering system in place. But are you using that data as much as you could be? Each data transaction should be linked to a unique customer identifier, which allows you to create a more granular picture of your customers for not just real-time personalization, higher resolution targeting, and audience management, but more omnichannel personalization.

The more data you have in your ID Graph the more you can segment your audience and personalize your content. This allows you to send different messages to potential customers and existing customers so that both groups aren’t seeing the same ads and thus becoming alienated if a message doesn’t apply to them.

Deterministic matching

Deterministic cross-device matching uses customer information like anonymized log-in data or email addresses to match connected devices to Customer IDs and it ’s essential to omnichannel personalization and integral to building a robust ID Graph.

Geofencing

Geofencing allows marketers to draw a virtual fence that will alert them any time someone enters or exits a specific area. This can be used by brands and retailers to email coupons and other content to customers once they get within a certain distance of a store or even a section of a store. The technology provides a tremendous way to connect with existing customers at or near the point of purchase.

Clickstream and POS data

Combining geofencing data with other real-time signals such as a customer’s browsing activity or brick-and-mortar purchases can provide even greater insight into customer intent. This can help you decide not only whether and how to connect with the customer, but what content to send.

The above provides just a glimpse of how real-time data can be used to enhance customer loyalty, boost customers’ lifetime value and improve your marketing ROI.

Why loyalty matters?

Research shows investors are much more likely to reward brands with repeat customers and customer loyalty with premium valuations. That’s primarily because repeat purchasers spend more, refer more people, and bring in more business, according to Bain and Company research. As any marketer knows, it’s also significantly less expensive to retain a customer than acquire a new one.

This is why more auto dealerships are now focusing their marketing efforts toward retention, rather than just target marketing. Real-time data, it turns out, can turbocharge customer loyalty just as much as customer acquisition and sales.

BDEX is committed to building the infrastructure marketers need to power human connectivity. Call (917) 410 6616 or email us at info@bdex.com today to learn how brand-building solutions from BDEX can help you put the right messages in front of the right consumers at the right time.

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.

When Real-Time Data is Actual Real-Time Data

Many data platforms claim they can provide their customers with real-time insights, but their definition of “real-time” is often debatable. True, real-time data is not only obtained in real time but offers brands, retailers, and agencies up-to-the-second information on their customers’ behavior. After all, if you acquire information about an online shopper one minute but the information is 30 days old, the data’s value is greatly diminished. But if that same online shopper searches for sandals on one website one minute, and the marketer learns that information a minute later, the data is priceless. “Organizations can reap a lot of benefits by accessing real-time analytics purely because of their close relevance to market realities” (Techopedia).

Mobile Data

Real-time data can be learned a variety of ways, perhaps most obviously, through mobile IDs. Every Apple device has a UDID, or Unique Device Identifier. “Originally, the UDID was intended as a sort of serial number for Apple devices. But, as the industry began to explode, app developers turned to the UDID to help track and target mobile users.” Apple later denied app developers access to users’ UDIDs and created a data set called IDFA, or Identifier for Advertisers. Unlike the UDID, the IDFA is not easily linked to devices or users. In fact, users can even opt of advertising tracking altogether if they wish.

Despite mobile advertising regulations, mobile ID tracking provides valuable data for marketers, especially when tracking real-time behavior. With over 100 million mobile device IDs tied to AAIDs and IDFAs, the BDEX DXP has some of the most comprehensive and diverse mobile data on the market.

Cross-Device Matching

Ninety percent of today’s consumers bounce back and forth between devices when making purchases. When you consider that 65% of the revenue generated online comes from purchases that are made across multiple channels, you have little choice but to target users with ads regardless of the device they’re using to access these channels” (Shopify). To target the same consumers across multiple channels, however, marketers must link those consumer’s various IDs. Not surprisingly, connecting the ID “dots” is easier said than done.

There are over 80 million email-to-mobile ID and email-to-cookie ID matches available in the BDEX marketplace. Thanks to a plethora of data provided by more than 75 sources and custom BDEX identifier tags, marketers can link their consumers’ information across multiple sites and platforms and use that data to advertise via mobile, email, display, or any other channel.

Moving Beyond Interest and Intent

While interest and intent data is certainly valuable, when you add a real-time element to the equation, the information learned is not only a predictor of what a consumer may buy but an indicator of what he/she will buy. With millions of new data points received daily across thousands of categories, the BDEX Data Exchange Platform offers the most comprehensive and time-relevant data on the market. For more information about our platform, visit our website. Want to get in touch? Email info@bdex.com.

Image via Flickr/Jean-Pierre Bovin

Get the Data You Need at One Price

When choosing a data service, businesses may consider factors including the amount and variety of data a provider offers. But the most important question always comes down to money: How much will this cost?

One Data Solution, One Price

DMPs are notorious for their steep monthly service fees, and while there are hundreds of online advertising platforms, most of them handle pricing based on a CPM, or cost per thousand, basis. And as we mentioned in one of our latest posts, it can be difficult to determine if the right consumers are noticing your ads.

With BDEX’s DaaS solution, businesses can access BDEX’s marketplace and obtain data services for a fixed, low monthly cost. No longer wonder if your impressions will turn into conversions—know your target customer.

Shop Our Marketplace

Whether your company needs email, mobile, or cookie-based data, BDEX has the tools to target consumers across all channels. And with over 780 billion data points and 5,500 categories, businesses of all kinds can find relevant data in our DXP.

Go Ahead, Hit Refresh

BDEX has an abundance of traditional audience and real-time data available. And unlike most online marketing services, BDEX separates the cost of the data from the ad. In other words, if your company buys data from us, it’s yours to keep. Use it once or multiple times without paying every time you publish a new campaign.

BDEX is helping businesses of all sizes, including franchises and dealerships, target and serve their customers. We offer a variety of services, from shopping cart retargeting to geofencing, to DaaS solutions. Learn more on our website or email us at info@bdex.com.

Image via Flickr/401kcalculator.org

Why You Should Consider DaaS

You’ve probably heard the term SaaS. SaaS, or Software as a Service, combines the services of a software provider with a self-service approach. For a monthly or yearly subscription fee, customers can utilize software themselves, no hardware required. As the Internet became faster and as virtualization and big data tools developed, SaaS became more available, setting a precedent for other user-friendly tech products and services.

One of the byproducts of SaaS is DaaS, or Data as a Service. “In the last few years many businesses have sprung up offering cloud-based Big Data services to help other companies and organizations solve their data dilemmas,” says Big Data expert and writer Bernard Marr. And with more and more businesses utilizing data, it only makes sense that companies are offering “data on demand.”

But not all DaaS services are created equal. With BDEX’s data services, businesses can get the combined benefits of a data marketplace and data services without the upfront cost. For a fixed monthly fee, retailers, brands, and marketers can receive services like:

  • Email Retargeting

This service gives businesses the ability to automatically email users that have visited their website, even if a visitor leaves and never registers with the site. It is an opportunity to reach an otherwise completely lost website visitor.

  • Access to In-Market and Real-Time Data

Companies receive up-to-the-minute, real-time data about consumers looking for a product or service. This data can enhance current marketing and lead generation efforts.

  • Geofencing

Businesses can better target prospective buyers within a pre-defined geographic area.

  • Direct Mail Targeting

While digital marketing tends to be the primary focus in the use of online data, combining digital with more traditional forms of advertising, like direct mail targeting, is now possible.

With over 5,500 data categories, including finance and retail, the BDEX DXP has data for businesses big and small. Email us at info@bdex.com to learn more.

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