4 Questions with LiveIntent SVP, Product Marketing, Kerel Cooper
With the fragmentation of attention and identity across multiple devices, channels and environments, marketers are still struggling to be present where their customers are paying attention. Vital data is often siloed and underutilized, and the walled gardens restrict deep insights that would inform decisions and improve personalization. However, marketing is no longer a guessing game when you are a people-based marketer. People-based marketing offers the ability to reach real individuals and to deliver the seamless, personalized experiences that today’s consumers expect.
But implementing a fully-realized People-based marketing strategy requires more than just activating customer data in channels that were traditionally reserved for advertising. It means putting the exhaust of activating that data to work, optimizing performance and enriching that data to improve everything else you do.
In other words, they need to give this data a day job. And that starts by breaking down the silos between adtech and martech.
Are marketers already converging their adtech and martech capabilities?
A Forrester study (commissioned by LiveIntent) revealed that 9-in-10 marketers want their adtech and martech solutions to converge, and that 35% of marketers are actively working on integrating their technologies. But while you may think the biggest hurdle would be the technical challenges in integrating advertising, marketing, and customer data, most marketers said the biggest hurdle for combining the two was actually that their organizations operate in silos.
When you bridge the gap between marketing and advertising by using your first-party data to reach known customers in channels you historically couldn’t for services like remarketing, and use the probabilistic “exhaust” data (clicks, conversion, location, device, etc.) from those services to continuously inform campaigns and improve performance everywhere else, you are giving data a day job.
What does giving data a day job really mean? If I’m using the data for targeting customers, doesn’t it already have a job?
The truth is yes – but behind walled gardens like Amazon, Facebook and Google, where marketers can’t access it. Instead, it’s put to work improving these platforms’ ability to resolve identity, optimize performance, and measure attribution. As a result, marketers have become reliant on these platforms to the point where any changes they make can have significant impacts on their business.
To control their own destiny, marketers need to have their own source of rich first-party data and be empowered and educated on how to make it work overtime to deepen their understanding of their own audiences and derive insights that can be applied and activated across different channels and programs. But that’s not enough. They also need to be able to effectively tie their deterministic first-party data to probabilistic data. And to do that, you need an Identity Graph.
Why do you still need probabilistic data for an Identity Graph if you have deterministic data?
They’re both necessary and valuable. While cookies might not a reliable way to target audiences with people using three or more devices, they are a great way to inform context, intent, and relevance. Deterministic data is long lived and tied to an individual, it isn’t always as fool-proof as the market has lead us to believe. For instance, let’s take the email address, which is a great piece of deterministic data. You might have two or three email addresses – all of them are you, but you only use one in your day-to-day life. So as a marketer, how do you know whether the data you have will give you the best way to reach that person or close the loop to prove a conversion? Context, relevance and intent provided by probabilistic data that can be tied to a deterministic ID. This is why identity graphs are so compelling. It powers People-based marketing and blends together all these different types of data to tie it to one person. Identity isn’t one thing, it’s a combination of multiple data points.
What makes you excited about People-based marketing?
Few people actually enjoy ads and 26% use ad blockers. Consumers want better experiences and true People-based marketing allows brands to offer just that, along with more relevant, personalized offers. Imagine being able to treat every customer like your best customer! I think that’s exciting.
People-based marketing places the emphasis on reliably reaching people as opposed to devices. Some marketers are struggling to catch up and express internal challenges that range from siloed data to technology. But the capabilities, data and technology are indeed available with the right partners.
If you would like to discuss how you can put your own data to work, contact us here.