What Does a Big Data-Driven Customer Experience Look Like?

Your customers expect you to understand their needs. 80% of modern consumers expect personalized experiences from their favorite brands. Despite increased budget for big data marketing initiatives, 43% of marketers feel they’re getting almost “no benefit” from their existing data assets. These two statistics illustrate a clear disconnect between what customers want, and what marketing teams are able to deliver.

The savviest marketing teams aren’t just deriving value from their internal, or first party, data assets, they’re obtaining high-quality, real-time insights from 3rd-party data vendors to develop a 360-degree view of their customers. In order to capture and retain today’s complex digital consumers, a big data-driven customer strategy is a must.

What Does a Big Data-Driven Marketing Strategy Entail?
Every time your customers swipe on a mobile device screen or post a status update to social media, they leave a trail of data on their preferences and behaviors. Each of these interactions offers the potential for your brand to gain insight into how to create personalized experiences for your customers.

By synthesizing first and third-party data insights in a data management platform (DMP), you can create a holistic view of your customer base. This allows you to understand patterns and stories that extend beyond your own touch points, and discover truths about how your customers interact with the world around them, by using these stories to create segments and understand your customers on an individual level. In this blog, we’ll discuss several of the best practices best-of-class organizations adopt when developing a marketing strategy that’s driven by big data insight.

1. Expand Your Data Collection
Transform your strategy from first-party data analysis to a program that’s focused on true cross-channel synthesis. By combining the broadest array of data sources possible, you can improve your strategic analysis and customer understanding.

2. Score Your Segments
By creating narrow segments of your existing customers, you can focus on your best clients. These are the individuals with the highest customer lifetime value (LTV), and who may be most likely to promote your brand on social media channels and other online forums. The creation of buyer persona profiles has traditionally been executed through qualitative research methods, such as focus groups. By allowing data to tell your story, you can eliminate organizational biases about what your best customers look like.

3. Focus on Customer Experience
When you have identified your best customers, it is critical to discover ways you can improve your client experience. You can discover insights on how your customers interact with brands through the inclusion of 3rd-party data. Are they mobile shoppers, or heavily-engaged app users? Tailor your engagement strategy to your client’s existing behavior patterns.

4. Get Personal
The best marketers know that big data has the potential to move your strategy from segments to true personalization. Use your big data insights to discover behavioral triggers, and tailor personalized marketing efforts to meet your client’s needs for relevant email marketing and programmatic advertising.

5. Measure and Optimize
With your programmatic advertising and email marketing metrics, your brand has the potential to move towards continual improvement cycling in your marketing program. Never stop collecting data, analyzing, and improving your efforts to deliver a best-of-class customer experience.


Are you ready to make the shift towards customer-focused, Real Time big data-driven marketing? Contact BDEX today for more information on high-quality, real-time big data assets from trusted 3rd-party sources.

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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.

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Consider These 3 Factors When Selling Data

Big Data’s incredible economic and social influences are evidenced in the variety of industries it’s revolutionizing. For example, healthcare providers can better “predict epidemics, cure disease, improve quality of life and avoid preventable deaths” (Forbes). Brands can better serve their existing customers while attracting new ones, and retailers can predict what trends will resonate with their shoppers.

However, those new to the data monetization side of the Big Data industry may feel a little overwhelmed since there are thousands of companies ready and willing to utilize their data. Before you take the plunge and decide where and how you should sell your data, consider these important data factors: location, price, and privacy.

Where You Sell Your Data Matters

You’re probably wondering, “Where do I sell my data?” After all, the “personal data economy is fairly new.” While you can sell data to a variety of websites, the process can be time-consuming, as tech blogger Chris Hoffman points out. And if you’re selling a limited amount of information, weighing the amount of time spent selling versus the value of the actual data is important.

But as the data monetization industry grows, more and more options become available. Data marketplaces, or online stores where people can buy and/or sell data, are alternatives to the traditional DMP. Data marketplaces allow a wider range of businesses to take advantage of data monetization. Some marketplaces, like BDEX’s, don’t even require revenue sharing.

The Price Must Be Right

Determining the value of your data is perhaps the most difficult part of monetizing data. If you set the price too high, buyers will choose other providers, but if the price is too low, your chances of creating a decent margin are squashed. In a marketplace environment, data sellers can determine the price of their data based on that of the competition. BDEX even shows their data sellers the optimal price point of their data so they raise or decrease the price when necessary.

Customer Privacy is Essential

Sharing data should be a mutually beneficial experience for all involved, including the consumers. To ensure that your consumers’ information is protected, you should encrypt the data or hire a third party to do it for you. You should also be sure that the website or marketplace that buys your data is doing their part to protect the data as well. Data sellers who take advantage of the BDEX marketplace can rest assured that their customers’ information is anonymized and protected.

BDEX is changing data monetization. Sellers can enable activation and monitor their data, while buyers can access tremendous scale and even integrate the BDEX DXP into their own DSP. When they utilize BDEX’s data monetization services, data sellers have complete control of what data they sell and its individual price point. For more information, email us at info@bdex.com.

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Understanding Your Target Consumer: The Case for Utilizing Traditional and Non-Traditional Data

Any digital marketer’s ultimate goal is to increase sales for a particular brand or retailer, but targeting the right consumer can be a difficult task. Traditional demographics, like gender, age and marital status, are not enough to properly assess a person’s buying potential. Consumers are diverse, their lifestyle and behavior not necessarily linked to their age or gender. And with a wealth of online and brick-and-mortar retailers to choose from, they demand more for their money and more from customer service. Vying for a customer’s business, however, becomes a lot easier when your marketing material is geared toward the right audience. By taking the time to analyze consumers’ behaviors and personalities, marketers can target consumers more effectively and efficiently.

Out with the Old… But Not Completely

It goes without saying that traditional demographics still have a role to play in contemporary marketing. After all, people who live near the beach will be in need of beach supplies whether or not their personality is similar to that of their neighbors. But not all demographics are as black and white as location. John Forsyth, partner at Forsythe Insights LLC, demonstrates the problem with traditional analytics by citing the obvious personality differences between Prince Charles and Ozzy Osbourne. Both men are British and the same age, but marketing to them in the same way is an obvious mistake, as one is the heir to the British throne and the other a rock star. In other words, their distinctive personalities and behavior alone are reason enough to target them separately.

In with the New

A consumer’s behavior can provide marketers a wealth of information, from shopping habits to favorite restaurants, but that’s only the tip of the iceberg. Data companies can offer marketers a wealth of information learned from multiple platforms, including social media, mobile, email, direct mail, and apps. By the year 2020, experts estimate “about 1.7 megabytes of new information will be created every second for every human being on the planet.” And while 2020 may be four years away, there is still an incredible breadth of data that can be tapped at this very moment.

A customer’s personality and values drive their economic decisions, and when marketers take the time to truly understand their audience, they can identify specific needs and locate look-alike audiences with similar characteristics. Advertisers and retailers can also give their respective brands informed suggestions about what products and services to offer their customers next.

The Next Phase in Targeting

”With many companies struggling with online – and offline, for that matter – conversion rates,” says writer Jessica Carter, “It’s crucial that they start to understand better what makes consumers tick (or click, as the case may be).” When marketers know what makes a customer “tick,” they can approach consumers from a variety of angles, from customized social media ads to personalized emails with coupons for a specific item.

When you add real-time targeting to the equation, the data becomes even more valuable. Brands can find consumers shopping for their products and services moments after they begin to browse online. But that’s only the half of it; marketers learn not only what consumers want at a specific moment, but they can influence where and when their audience gets the product or service.

While marketers may feel overwhelmed by the amount of data available, taking advantage of the newest innovations in consumer identification while incorporating the best of traditional targeting is key to creating exciting campaigns that will keep customer interest—and revenue—on the up and up.

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. Email us to learn more.

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Does Your Data Need a “Spring Cleaning”?

In a previous blog post, we discussed the benefits of having a centralized marketplace, a location where brands, retailers, and agencies can source any type of third-party data they need. And while a DXP like BDEX makes the process easier, buyers may still feel overwhelmed by their choices:  Am I purchasing the right data? Not enough? Too much?

If your company has a plethora of data you don’t know what to do with, it may be time to organize your data and sort the treasures from the trash. And if you have holes in your data strategy, there’s no better time to easily resolve those issues.

Take Advantage of Custom Segment Building

The key to sourcing quality, third-party data is to know what you’re looking for. Who is your customer? What are their interests? What are their shopping habits? When you identify the common characteristics and habits of your clients, you buy only the data you really need. The BDEX Custom Audience Creator makes it easy to combine segments from over 5,500 different data categories, allowing brands to create the perfect custom audience.

Real-Time Data is Ideal

You can also give your data a good “spring cleaning” by making sure your data is timely. While most DMPs offer data that is at least one month old (or even older), BDEX has a wealth of real-time data sourced from thousands of websites and apps, allowing companies to execute the timeliest campaigns possible. The best part: when you buy data from the BDEX marketplace, you own, not rent, the data. You can even refresh the data once or as many times as you like.

Big Data Doesn’t Have to be Expensive Data

It’s important to be conscious of not only the data you buy but how much it costs. Traditional DMP services can cost thousands of dollars a month. BDEX offers a variety of solutions, including subscription services, that allow businesses the opportunity to use the BDEX marketplace without breaking the bank.

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. Email us for more information.

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5 Incredibly Costly Big Data Marketing Mistakes

Low-quality big data assets can lead to incredibly costly marketing mistakes. Research by Experian indicates that low data quality has a direct impact on revenue for 88% of modern organizations. Average losses are approximately 12% of revenue. For organizations who are shifting towards data-driven marketing and customer experiences, low-quality data can lead to costly mistakes.

How Bad is the Average Marketing Big Data?
Per eConsultancy, 22% of information on contacts, leads, and customers contains inaccuracies. Perhaps most concerning, the average organization’s quality index is headed in the wrong direction. Twelve months ago, the average inaccuracy rate was just 17%. Incorrect data can have a real impact on your team’s ability to build segments, understand behavioral triggers and preferences.

In contrast, organizations with a high degree of data accuracy are more likely to appreciate:
● Efficiency
● Cost-Savings
● Customer Satisfaction
● Informed Decision-Making
● Protection of Brand Reputation

Poor-quality or old customer data can lead to a series of costly marketing mistakes. Join us as we review some devastating errors that can be directly attributed to inaccurate customer data.

1. Low Advertising Conversions
Low conversion rates on programmatic advertising is a symptom, not an issue. Poor click-throughs and conversions can be attributed to a lack of mobile advertising, poor segmentation, irrelevant data, or other factors. However, far too many marketing teams fail to take appropriate action in response to low advertising conversions. Instead of working to improve the breadth or quality of data, they continue generating ads. Before running more ad campaigns, marketing teams should take appropriate action to ensure they can achieve better returns.

2. Inconsistent Brand Experiences
Without accurate or up-to-date data, your brand communications could send the message that you don’t know your customers. You may generate programmatic advertising for products your customers already own. You could send an email blast for baby products as their children are approaching preschool age.  Marketers need to actively combat a brand experience that’s inconsistent with a customer’s needs and activities. If you miss the mark repeatedly, you’ll struggle to build customer loyalty and sales.

3. Poor Email Deliverability
The average return on investment (ROI) for email marketing at mid-sized organizations is 246%. However, organizations have the potential to significantly exceed these benchmarks with appropriate timing, segmentation, and other big data-driven activities.  Email communications to outdated contact lists have the potential for a high bounce rate, or percentage of emails that are undeliverable. Email segmentations that are vastly inaccurate could also increase your risk of being pinged as spam. In the mind of a consumer, spam is simply “unsolicited bulk email.” If your messaging is irrelevant or feels too much like a mass communication, it’s likely unwelcome.

4. Mobile Neglect
Far too many big data marketing strategies are focused on desktop advertising, email receipt, and experiences. In reality, consumer behavior demands mobile marketing. As of 2015, adults now spend more time engaged with mobile devices than desktops, laptops, and other connected devices combined.  There’s a good chance that, at least 50% of the time, your desktop-optimized advertising is consumed on mobile devices. This can lead to poor user experience (UX) and returns on investment.

5. Poor Verification Methodologies
All too often, major brands go viral for all the wrong reasons. Poor data verification can lead to mistakes that are embarrassing, insulting, or even hurtful to their loyal customers. OfficeMax sent coupons addressed to “Mike Seay, daughter killed in car crash.” The addendum to the customer’s name was unfortunately true. The company ultimately issued a public apology to the customer.   Manual data verification processes are rarely effective in the big data age. Fortunately, using a data management platform (DMP) or another tool to perform quality checking against 3rd party data can eliminate much of the risk of similar mistakes.

If your organization’s data quality is average or below average, you’re at risk for many of these expensive marketing mistakes. By taking the appropriate internal steps to improve your quality standards, you can improve the ROI and impact of your marketing efforts.

BDEX offers high-quality, real-time big data assets from trusted 3rd party vendors to safeguard against low-return marketing investments. By downloading the right data resources directly into your DMP, you can improve the accuracy of your customer records, gain deeper insight into your buyers, and build better segments.For more information on becoming a BDEX buyer or seller, click here.

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