4 Steps to Better Auto Dealer Marketing

Long gone are the days of cheesy, old fashioned car salesmen and hard-selling. Dealerships are spending less on traditional forms of advertising like television commercials and newspaper ads and more on digital marketing. The process is understandably overwhelming for small dealerships, however. With a limited advertising budget, creating the most effective marketing with the best chance for significant ROI is important. Paid search tools are a popular approach, but they can be expensive and display ads can bring awareness to a particular brand or business, but when it comes to controlling when and where your ads appear, flexibility is limited.

By focusing on a few key strategies when establishing your dealership’s digital marketing plan, you can rest assured you’re spending your money effectively and efficiently.

1. Take Advantage of Email Retargeting

Consumers who visit your website are important; they’re potential buyers who show interest in your cars and services. By matching potential buyers with their email ID, you can create personalized email campaigns to fit their needs. BDEX offers email retargeting as well as other cross-device matching services to connect your customers across multiple platforms.

2. Use Real-Time Data

What if you knew which consumers are shopping for a car right now? With real-time data, you can. But while there are hundreds of data providers, not all of them offer up-to-the-second information on consumers. With real-time targeting from BDEX, you can find prospective buyers who are shopping for a car or have a lease expiring.

3. Utilize Geofencing

Geofencing is a location-based service that tracks who is visiting a particular area. Geofencing is used in a variety of industries from human resource management to law enforcement. Dealerships can take advantage of geofencing by tracking people who visit their own business or competing dealerships.

4. Don’t Forget Direct Mail Targeting

Dealerships that take advantage of BDEX Hyperlocal Data suite services will gain additional data on their consumers, opening new avenues for other marketing, including direct mail. While direct mail is an older, more traditional approach to marketing, used in conjunction with digital marketing, this method is another way to grab your consumers’ attention without crowding their inbox.

Instead of waiting for your customers to see your advertising, why not target prospective buyers now? With the BDEX Hyperlocal Data Suite services, you can find potential car buyers in a specific area—in real time. Email us at info@bdex.com to learn more about our auto/dealership services.

Image via Flickr/David Brown

New Year, New Data

With the new year comes resolutions, and though vowing to exercise more regularly or cut down on carbs is a worthy personal resolution, it’s important to make professional promises as well. The BDEX teams believes now is the time to take advantage of Big Data.

But it’s not just us. Experts believe 2017 will be a pivotal year for Big Data as well.

“2016 was an exciting year for big data, as finally, Big data is no longer a hype or a buzzword. This means that organisations are actually developing real world solutions and applications with big data analytics that have a big impact on their bottom line,” Mark van Rijmenam of Datafloq tells KDnuggets. As marketers take Big Data more seriously, the doors open for more Big Data projects and Big Data solutions.

The BDEX Data Exchange Platform (DXP) has steadily grown to offer our customers the most comprehensive collection of timely, third-party data on the market. We’re happy to announce that our marketplace is more robust than ever. Look at a few of our updated marketplace statistics below:

 

Shopping Cart Retargeting, or targeting customers who have shown interest in a product on a retailers’ website, is a common data service. The BDEX Shopping Cart Engine, or C2E service, takes this retargeting to the next level by linking retailers with the email addresses of customers who did not even register or purchase on the website. Retailers can connect with potential customers who have shown an interest in their products, whether or not they wanted to purchase merchandise at that particular time.

 

Want to learn more about Big Data or BDEX? Visit our website, bdex.com, or email us at info@bdex.com.

Image Credit: Flickr/KamiPhuc

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

Using Too Many Data Sources? We Need a Centralized Marketplace

Data sourcing has never been a piece of cake. Brands, retailers, and agencies are always looking for the newest, most relevant data, but since the information first-party data provides is single-sourced, companies need to rely on third-party data for most of their campaigns.


Between managing each provider individually, overseeing numerous contracts, trying to match mobile IDs with email addresses, and weeding through the data, marketers hardly have the time to merge these disparate data sources let alone use the learned analytics effectively. With the advent of true data marketplaces, obtaining quality, real-time data pre-merged to a single unified ID is now as simple as shopping online.


Marketers have been reaping the benefits of third-party data for years, but the process of obtaining that information is easier said than done. While using third-party data allows brands and retailers to better understand their consumers, seemingly boundless intelligence can also be overwhelming. From hiring data scientists to dissect every statistic to creating an infrastructure to save every fact and figure, multisourcing is not only complicated but incredibly expensive.


A common challenge faced by marketers employing third-party data is knowing how to source, organize, and manage that abundance of information.


“The more variables you have, the more complex data gathering and consistent reporting becomes. Endless combinations of inputs and outputs can soon become unwieldy and hard to manage,” according to Greenstone, a leading provider of non-financial reporting software in the UK.


But sorting the information isn’t the only difficulty marketers face. They have to screen vendors, establish guidelines for data retrieval, address contract security and privacy issues, and manage the business relationship. In other words, utilizing a variety of analytics companies makes the data management process more complicated, more expensive, and more time-consuming. Often, after going through the trouble of obtaining the information, marketers find the acquired data to be too similar, stale, and, ultimately, not worth the trouble.


Another issue brands, retailers, and agencies face is linking IDs across multiple sites and platforms. Connecting users is especially important since mobile is “the leading digital platform, with total activity on smartphones and tablets accounting for 62 percent of digital media time spent, and apps alone now representing the majority of digital media time at 54 percent,” according to the 2015 US Mobile App Report.


Keith Sayewitz, Chief Marketing Officer at BDEX, believes that having a breadth of data that connects patterns and trends among consumers is essential to creating a successful campaign.


“When you get all of your data from a marketplace like BDEX’s, you’re not only receiving information from companies like Neustar but thousands of mobile devices and clicks in real time,” says Sayewitz. “The ability to link customers’ mobile, cookie, postal and email IDs makes the marketing process even more efficient.”


Marketers can then target customers from a variety of angles, increasing the chance of better results and ultimately a higher ROI. Though the development of linking big data is still a work in progress, the most innovative companies have begun taking advantage of the scale of information available and are acquiring pre-merged data from the marketplace.


BDEX provides brands, retailers, and agencies with extensive, quality data from a variety of sources in a true marketplace environment. With over 20 billion data points tied to mobile IDs and every channel added to the marketplace each month, buyers can understand consumers like never before and create compelling campaigns that return real results.

Image Credit: FreeDigitalPhotos.net/hywards

Are You Using the Most Advanced Data to Target Consumers?

The way we use data to target audiences is constantly evolving. The first phase in targeting was fairly simple in that we relied on only a few simple demographics, like age and gender, to segment consumers. Then audience groups were formed. More advanced and specific, audience groups were, and still are, based on consumers’ shared interests. The newest chapter in data targeting, utilizing real-time insights, merges information about demographics and audience groups with real-time activity. But that’s just the tip of the iceberg. Real-time data isn’t just information about your consumers’ spending habits in the last month. True, real-time insights let you know what your target customers are searching for the moment they shop online.


In the mid-20th century, marketers focused on only a few consumer demographics when developing marketing campaigns. While factors like age and gender were more important sixty years ago when people sourced their news and entertainment from the same place, the traditional methods for obtaining consumer data are not as relevant anymore. McKinsey’s John Forsythe demonstrates the problems associated with using only a few, superficial demographics by citing the differences between Prince Charles, Queen Elizabeth’s son and her heir apparent, and Ozzy Osbourne, lead singer of heavy metal band Black Sabbath. While both men are British and the same age, a marketer obviously wouldn’t market to them the same way.


Marketing and brand expert Adam Paulisick also believes that simple demographics don’t provide enough information to properly target consumers.


“Segmenting consumers by age and gender or other demographics is inefficient at best, even for more traditional marketing campaigns because there are no hard and fast rules anymore for what a man or a women will intuitively buy (with few exceptions).”


While we might not know the “hard and fast rules” that drive what a consumer buys, we can know the next best thing: what product they are shopping for the moment they shop. Real-time data takes into account everything we used to know about consumers based on demographics and audience groups and merges it with live activity.


Keith Sayewitz, Chief Marketing Officer and Head of Sales at BDEX, a market-driven exchange platform that provides users with real-time data, explains the value of real-time analytics for marketers.


“For years a company depended on simple demographics to identify a certain consumer, like ‘soccer moms.’ Then audience groups were formed, so we discovered those soccer moms were interested in fitness. But now, with real-time data, we learn which of those soccer moms are in the market for a treadmill or are switching to vegan cuisine. This information is incredibly powerful because it allows for truly advanced targeting. We know that this customer is likely to buy a treadmill because she is in the market for one at this exact moment.”


Marketers can then create specific ads for the desired consumer, increase the probability for conversion, and, therefore, create more sales. The insights provided by real-time data are essential to brands, retailers, and agencies who want to stay up-to-date on consumer activities and truly understand their customers’ needs.


BDEX, the first ever Data Exchange Platform (DXP), is currently the only source for true, real-time data. For more information about BDEX’s unique services, click here.

Image Credit: NEC Corporation of America

4 Ways Third-Party Data Can Generate Lift in Your Marketing Results

Marketers may be hesitant to invest in third-party big data insights due to poor reputation. Digiday blasted the products of many big data vendors as “cheap, plentiful, [and] inaccurate, citing cases 30-35% inaccuracy rates discovered through validation testing. However, even the most outspoken critics of third-party data admit that not all vendors are equal, and marketers can drive desired results if they don’t trade “accuracy for scale.”

With the right vendor, third party big data can be a crucial tool for generating lift in marketing results. The proof is in the meteoric growth of programmatic advertising, in which results are largely dependent on data quality and scale. Perhaps more importantly, marketers must remember that third-party data purchased from outside parties isn’t a new concept.

Marketing teams have bought insights for decades as a tool for tailoring print advertising and direct mail campaigns. While the best advertising formats and data scale have changed, the importance of outside perspective hasn’t. Join as we review reasons why validated, high-quality third party data assets are crucial to marketing results.

1. Third-Party Data Can Be First-Party Data
Third-party that generates poor marketing results or contains vast inaccuracies is usually far-removed from it’s source. It was purchased from the organization who originally collected it months prior, scrubbed, categorized, and distributed.  However, with BDEX’s data marketplace, your team can purchase data from first-party sources in real-time. Instead of relying on aging insights or questionable segments, you can combine your data with another organization’s first party insights, resulting in far broader contacts and understanding.

2. Third-Party Data Introduces You to New Contacts
While emails, mobile, and programmatic advertising are important tools for customer retention, marketers are in the business of acquiring new customers. The goal of a marketing department is to attract people who resemble your most qualified customers.  Third-party data can function much like the contact lists or leads marketers may have purchased in the past. With exclusive partnerships, you can gain access to the email addresses of pre-qualified consumers who are actively looking for your product or services.

3. Your Data isn’t Validated
Third-party data assets from trusted vendors can reveal uncomfortable truths about your organization’s data quality. The most commonly reported data management challenge is resolving quality problems “before they become an issue.” Even if your organization has above-average data management practices, there are likely inaccuracies in your contact profiles. By reconciling your insights in a data management platform against a third-party vendors, you can perform validation and cleansing actions needed to maintain accurate information.

4. Your Touch Points aren’t the Full Picture
Even if your organization engages in extensive first-party data collection practices, you’re probably not getting the full picture. Your insights are limited to what you’re able to collect through Cookies, user-generated web content, and customer touch points.  If you’re in the finance industry, you may not know that your customer is expecting a child. If you’re in real estate, you may not know that a client is actively planning for retirement. In order to understand your consumers on an individual level, third-party insights are typically necessary.

Ideally, third-party data has the potential to elevate your team’s insights through validation and the addition of well-rounded insights. Instead of relying exclusively on your own touch points, you can gain insights from other organization’s data collection practices.

BDEX is a first-of-its-kind marketplace, offering marketing teams the ability to connect directly with first-party data vendors in a variety of industries. Buyers gain the ability to access objectively-scored, real-time insights, which can be downloaded directly into your data management platform (DMP) to immediately begin generating marketing lift.

Image Credit

SUBSCRIBE