There’s no denying that first-party data makes for highly personalized customer experiences that build value for customers and boost ROI for companies. In a one-to-one conversation, communications are made relevant by the various actions that a customer takes through the journey.
But as consumers use more digital tools and devices throughout their day, third-party data and privacy-compliant identity resolution become key ways for marketers to stay relevant in their interactions when consumers do so much outside of any one company’s specific channels.
We’ve seen evidence of the high demand for data from big deals like Publicis Groupe’s acquisition of Epsilon earlier this year. How marketers can effectively use this data to improve CX is an ongoing challenge with big rewards going to the right solution.
Recently, global information services company Experian announced a Mobile Ad ID (MAID) resolution capability, developed in collaboration with their Experian DataLabs analytics research and development group. The solution draws on Experian’s data and identity assets and makes them user-friendly for marketers. It utilizes ML algorithms and probability-based techniques to power better analytics, segmentation, activation and measurement for brands. Specifically, the MAID resolution improves match rates and scale in a marketer’s ability to connect consumer and household identities.
Kevin Dean, Experian’s president and general manager of marketing services, North America, told me: “While many brands rely heavily on their own first-party data to gain more insight into their customers, it only tells half of the story. Effective identity resolution incorporates third-party data into the equation. This can include lifestyle and purchase behavior, as well as preferences, such as demographic information, transaction data and the media channels they prefer, among other attributes.”
He added, “The use of artificial intelligence and machine learning, similar to what we’ve incorporated into our new MAID resolution capability, can help brands accurately match data at scale in a shorter time period. And the more insight brands can gain into their customers, the better positioned they will be to implement effective cross-channel campaigns and develop a meaningful relationship with the customer.”
The bar has been raised for customer interactions, even as consumers jump across more devices and apps. Each touchpoint is an opportunity for a brand to start a conversation and nudge this prospect closer to purchase – or lose the customer’s attention altogether.
According to Dean, the MAIDs capability “provides a missing piece to the customer identity.”
Dean stated, “Identity resolution is the basis of marketing campaigns across industries.” He explained: “Let’s take an automaker that wants to reach individuals that may be interested in their new cross-over utility vehicle (CUV). The more accurately they can understand customers’ identities, the more likely they will be to create audience segments that would be interested in the product. More than that, the automaker can develop messages that resonate, as well as deliver campaign elements that are more likely to reach their desired audience — automakers’ no longer have to rely mass marketing. This helps reduce wasted ad spend and resources.”
Enabling brands to connect across so many digital touchpoints, as well as offline points of sale, allows for brands to create a “single customer view,” said Dean.
“That means,” he said, “when brands build audience segments, they’re more likely to include relevant audiences. For instance, if you know an individual is interested in outdoor activities and recently graduated college, you’d be less likely to include them in an audience for lead generation campaign for a painting class for seniors.”
Once brands have their relevant segments in order, they can move onto determining the effectiveness of their campaigns by measuring different creatives and optimizing for future efforts.
The new MAIDs capability will be made available through Experian’s MarketingConnect identity resolution platform, according to the company.