DaaS: The Alternative to High-Priced Campaigns

Businesses regularly use social media, search, and display ads to advertise their products and services. Every time a consumer sees the ad, an “impression” is created. Companies are then charged based on the numbers of impressions their ad receives. And while this service may be convenient, knowing how often those impressions turn into conversions can be a mystery.

“The main complaint advertisers have about PPI advertising is that it is difficult to know whether users notice your ads,” according to tech expert and writer David Weedmark. If your ads utilize only traditional audience data, you may not be targeting the right consumer. In other words, you’re paying every time someone sees your ad, even if that “someone” isn’t your target audience.

Another problem businesses face is the cost of data. Traditional DMPs and DSPs charge customers an audience data fee for every impression. Essentially those customers are paying for the same data over and over.

BDEX flips the online marketing model upside down. BDEX’s DaaS services streamline the digital marketing process, lowering the overall cost of campaigns. By separating the data cost from the audience cost, companies can reach more consumers without paying for every ad impression. And since BDEX customers own the data they buy, it can be used for one or a hundred campaigns at no additional cost.

In addition to their cost-effectiveness, DaaS services are flexible and personalized to meet your company’s needs. For a fixed monthly fee, auto dealers, franchises and other businesses can get the solutions they need without expensive upfront or fees.

To learn more about BDEX’s Daas services, email us at info@bdex.com.

Image via Pixabay

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.

Image via Flickr/dirkcuys

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.

Image via Flickr/Philip Wilson

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

3 Data Factors to Consider When Reaching Consumers

The importance of data to a business’s success isn’t a recent discovery. For decades, the fate of American television shows rested solely in the hands of The Nielsen Company, which still monitors citizens’ viewing habits via customer surveys and meter readings today. However, thanks to an incredible influx of information from a variety of sources, including cell phones, computers, and even sensor-equipped trains, brands have more access to analytics than ever before. Harvard Professor Gary King even referred to this stream of statistics as a “big data revolution” (Harvard Magazine). While the amount of information is impressive, King doesn’t believe the quantity is the “revolutionary” part.

“The big data revolution is that now we can do something with the data.”

But for many companies, knowing how to properly use acquired information is a major problem. When brands consider the following factors of big data, they are better equipped to reach consumers:

Timeliness of the Data

“In the rush to avoid being left behind, I also see that many companies risk becoming data rich but insight poor, says data expert and author Bernard Marr (Forbes). “They accumulate vast stores of data they have no idea what to do with, and no hope of learning anything useful from.”

One major issue with businesses storing data but not taking action is that the information goes bad quickly. Companies will keep the information hoping it will be of some use though it’s “no longer relevant, inaccurate or outdated,” says Marr. In other words, “time is of the essence.” BDEX is different from other data providers in that brands can access real-time analytics the moment consumers browse and shop online. By knowing what consumers want at a given time, businesses are better able to meet consumers’ needs.

Source of the Data

There is a common misconception that first-party data is superior to third-party data. While first-party data is owned by the company that obtained it, the data does not change as it’s transferred from party to party. That’s why data expert Kevin Tan believes companies should focus “on the quality and transparency of the data, not the party label.”

“Advertisers that choose to work with high-quality data providers can obtain third-party data that is timely and clear. Used together with first-party data, top quality third-party data enables brands to build a fuller picture of target audiences,” says Tan. (Exchange Wire)

In order to determine the quality of the information they receive, brands should also know where their data providers get their statistics. Some sources, like the US Census Bureau, may contain a broad range of data, while others, like market research surveys, may provide more specific information. By making use of data from a variety of sources, brands have the ability to assess their target audience and create better marketing campaigns.

Accuracy of the Data

You may be wondering, “How do I know what data is usable?” After all, the sheer number of data resources suggests that some of the data will either 1) not pertain to every business or 2) be incorrect. And while it does not serve your business to cater to every online consumer, know that the specificity of the information big data, especially third-party data, can provide is unparalleled. Information is collected by a variety of tools ranging from desktop cookies and e-tags to smart phone IDs.

“All this allows firms to glean what sites users have visited, what they have shopped for, what postcode they live in and so on. From this the firms can infer other personal details, such as their income, the size of their home and whether it is rented or owned.” (The Economist)

While the amount of data can be overwhelming, utilizing big data will not only help you reach your consumers but anticipate what they want next.

BDEX is the first ever Data Exchange Platform (DXP) offering real-time data in a marketplace environment.  All seller and consumer information is impartially scored to ensure that data is and high-quality and accurate. To learn more about BDEX’s unique services, or to become a BDEX buyer or seller, click here.

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