The end of the year, or what we like to call the biggest retail season, is creeping up on us quickly. For all you seasoned marketers out there, what is your marketing strategy to funnel traffic through your online and/or brick and mortar doors and convert them into customers? Using data to drive your marketing strategy is nothing new. But as technologies have become more sophisticated and retailers have more omnichannel data collected than ever before, the true value of the data is scattered until there is a way to tie it all back to unique profiles.
Let’s use Sephora as an example, a global retailer with online commerce and brick and mortar stores. They run a successful loyalty program known as “Beauty Insider” and have a ton of customer data, such as verified email addresses, birth dates, and zip/postal codes. Then there are customer taste and preferences information through purchase and loyalty data, such as what brands they like to what color lipstick is a must-have. Beyond that, they also know if customers tend to purchase online or within a store; when they first buy a product and how long it takes them to replenish a product; and if they are really engaged through product reviews. All this data can be coming from multiple touch-points like loyalty profiles, POS systems, mobile device IDs via the app, and customer support chatbots. The point is that there are probably a million data points in silos that Sephora has collected that can be used to better understand and target customers. The question is how to unlock the power of this first party CRM data?
This is where the LiveRamp IdentityLink service and its data store can activate immense value. By securely and accurately linking first party CRM data with industry leading third party data, LiveRamp transforms disparate data sources into a single anonymous deterministic identifier that consistently represents individuals across platforms, channels, and devices.
A data aggregator service is necessary given the fragmentation and diversity of data sources coming from an estimated 11 billion digital devices in the market. The LiveRamp “identity graph” enables people-based marketing capabilities for brands to drive better marketing ROI by enhancing targeting, ad-suppression for current customers, look-alike modeling to extend reach, and omnichannel marketing strategies to reach customers who didn’t open an email blast, for example. When mobile ad spend is projected to top $166.63 billion by 2018 and US mCommerce sales to reach $284 billion by 2020 (making up 45% of total retail ecommerce sales), it is table stakes for marketers to adjust to the constraints of advertising on mobile platforms.
JUICE’s integration with LiveRamp will allow our mobile-first DSP platform, Swarm, to automatically ingest anonymized device IDs through a secure process that protects consumer privacy once LiveRamp matches the client’s 1st party data. This means brands who have a rich set of customer data through channels such as e-commerce, financial programs, loyalty and relationship management can now leverage the Swarm-LiveRamp integration to access enhanced targeting options.
We are excited about realizing our commitment to bring enhanced targeting capabilities to our customers. Our LiveRamp partnership will offer the following capabilities: 1-to-1 exact matching on customer’s file 30-55% match rates Advanced security and privacy compliant matching since data is managed directly by LiveRamp systems Enhanced targeting capabilities and options directly within our DSP Swarm.
As it becomes ubiquitous for people to live on their mobile phones and the ability to further personalize experiences, people expect to be served relevant ads that could actually affect their purchase decisions. This will fuel the need for cross-device and cross-screen campaigns that will require a data matching service to ensure brands are reaching the right person with a targeted ad. JUICE’s partnership with LiveRamp brings us one step closer towards that future and into the world of people-based marketing.2