Three powerful analytics use cases for Customer Link. How linked data powers smarter analytics and better predictive models

Transcription

1 Three powerful analytics use cases for Customer Link 1 How linked data powers smarter analytics and better predictive models

2 The power of linked data When it comes to adopting new tech and trying out new tactics, you can t beat marketers. But the range of tools, tactics and platforms used by marketers today has given rise to a whole new problem: data fragmentation. It s an increasingly formidable obstacle for marketers and analysts who can t answer fundamental questions because the data they need lives in disparate sources and silos. Add to this the massive complexity of consumers anonymously buzzing between touch points, devices and channels (in seemingly random ways), and it s clear that something needs to be done. The key to squaring this circle lies in accurately linking anonymous data about online interactions with the offline data stored in places like CRM databases. That s where Customer Link comes in. A quick description: Customer Link is a LiveRamp Connect service that ties your customer data together in a privacy safe way. We take in data from all sorts of data sources like campaign impression data (from display, video, search, mobile, website traffic, opens, CRM databases, purchase data, 3rd party data and then return your data tied to anonymous links that represent a unique consumer. This linked data can be delivered to your attribution platform or as raw files for your analytics team. We put the data in your hands, so you can create a unified view of customer activity. We ve gone into more detail about what Customer Link is and how it works elsewhere. So for now we ll focus on three specific use cases it powers and why your analysts are going to love it. Of course, these use cases are only three examples when it comes to harnessing the power of linked data, the sky s the limit. Let s dig in. Customer Link use cases 2

3 Closed-loop measurement Customer Link use cases

4 #1 Closed-loop measurement Closed-loop measurement is all about connecting campaign exposure data in any given marketing channel to purchase data so you can optimize spend. Knowing that consumers who saw offer X were 30% more likely to go on to purchase a product than consumers who saw offer Y is a critical input to any program planner. But siloed data makes this simple connection prohibitively difficult. How Customer Link helps Connecting campaign data to your purchase data lets you tie all those expensive exposures to a tangible impact like purchases, even if the transaction happened offline. Link campaign exposures to transactions everywhere they take place in-store, through call centers, at branch offices, or online and you re closing the most crucial of feedback loops. All of a sudden, marketing s impact on the top line doesn t seem so fuzzy any more. Customer Link use cases 4

5 #1 Closed-loop measurement Example: Increasing the impact of budgets Before: A retail company could only connect banner ads to purchases if the purchase happened in the same session as the click. The ads were working just not instantly with every consumer. After: With Customer Link, the company can credit the campaign even if consumers who are exposed to it go on to purchase a product weeks after exposure in a brick and mortar location. Loop closed; campaign credited; budget impact increased. Customer Link use cases 5

6 Cross-channel attribution Customer Link use cases

7 #2 Cross-channel attribution An essential tool in the data-driven marketer s arsenal, attribution analysis is about understanding how a combination of touch points contributed to a sale. But when the data needed for analysis is a mixture of data from anonymous interactions (like a desktop web browser seeing an online ad) and known interactions (like a consumer seeing an or buying in a store) it s difficult to connect the dots. The trouble is, when you can t put the right data together, there s a very real chance you ll draw the wrong conclusions about how to allocate your marketing budget. How Customer Link helps By linking the data collected from disparate online and offline touch points in a privacy-safe way, Customer Link lets you create a unified view of customer activity to analyze. And since it s able to link anonymous data across channels and devices at the consumer level, the data set available for attribution analysis is much more accurate because it includes everything from impression data on external channels to anonymous website traffic and your purchase data. What that means for attribution analyses Here, the opportunity is to analyze every customer s interaction from first touch all the way through to purchase. That means knowing, for instance, that the smartphone that viewed an ad is connected to the same consumer who read an last week, and then visited your website before making a purchase in store. It s a holistic view of how your marketing campaigns perform across channels so you can assign the proper weight to each step in the funnel. It s the vision of cross-channel attribution analysis executed in a confident, privacy-safe way. Customer Link use cases 7

8 #2 Cross-channel attribution Example: Redistribute the budget Before: An online travel company had a limited attribution model fed by data silos. As a result, they overvalued search and undervalued social advertising. After: With Customer Link, a holistic, accurate view of each channel s real contribution meant the budget could be optimized, increasing click-throughs, engagement and conversion rates. Customer Link use cases 8

9 Audience modeling Customer Link use cases

10 #3 Audience modeling In the same way predictive analytics propelled the analytics discipline into the future, audience modeling aims to propel the age-old discipline of segmentation into the future. By analyzing the interactions and behaviors of people and segments that have purchased from your brand in the past, it s possible to develop sophisticated models of who is likeliest to buy in the future. Once again, the key challenge is having a meaningful enough dataset of behaviors and interactions to start analyzing for trends and attributes. How Customer Link helps The opportunity here is to link firstparty data (the data you own) and third-party data (the data you can buy) in an accurate privacy-safe way. That way you can link reliable evidence of purchases and engagements to a whole world of anonymous online interactions, identifying the patterns, audience attributes and journeys that are likeliest to convert. What that means for audience modeling So instead of all that anonymous data gathering dust in disparate silos, you turn it into the basis for a data-driven customer acquisition strategy. The impact is huge: Not only do you detect meaningful engagement patterns from the past, you give yourself the ability to predict which offers will drive the right behaviors later. It s a strategic leap forward for your data-driven marketing. Customer Link use cases 10

11 #3 Audience modeling Example: Optimizing retention offers Before: A mobile operator needs to better predict which customers are most likely to churn so they can target them with the right offers. Siloed data severely limits their ability to aggregate interactions and behaviors to gather enough signals. After: With Customer Link, the operator can unite the interactions of previous defectors across all channels. This builds a much more accurate model of likely defectors. Retention offers are super-targeted, avoiding over-spend while decreasing churn. Customer Link use cases 11

12 The anonymity opportunity There s never been a more interesting time to be a marketer. Because even though everyone s been talking about data-driven marketing for decades, the ability to unleash its full potential has never been greater. The way we see it, the masses of customer data spread across all your marketing platforms and offline data silos isn t an obstacle it s an opportunity. And if you ll allow us to toot our own horns for a second here, with Customer Link it s never been easier to make the most of it. Because you can put the data together and get the insights your marketing team needs without compromising the privacy and anonymit of your customers. Crucially, this ability to link anonymous interaction data with purchase and CRM data isn t academic. As we explained in this ebook, the applications for linked data are both incredibly powerful and achievable. Let your analysts loose on linked data, and you ll see the space-age vision of data-driven marketing turn into an operational reality. We re definitely biased here, but that s just downright exciting. Customer Link use cases 12

13 We re LiveRamp And we re dedicated to connecting the digital marketing ecosystem. With our Customer Link and Data Onboarding services, we help marketers eliminate data silos and unlock greater value from the tools they use every day. If you re looking for a fully linked view of your market and marketing, we should talk.