You’ve probably heard of spaghetti marketing strategies in business. We bet you’ve even tried spaghetti marketing time after time. The concept of spaghetti marketing is that you throw something at the wall to see if it sticks and then you run with what is sticking, because you know it is good. However, what you find is that if you do this, you have a ton of half-baked noodles lying on the floor! When we put that in terms of advertising dollars, this means that you are wasting a ton of advertising budget just to see what works!
Instead, you could be using identity resolution in your advertising strategy so that you don’t have to guess at what will work for your advertising, but you will know that you are sending ads to the right people.
Identity Resolution is the process of using deterministic data, segments, and audiences to create ad targeting. This data is based on actions that the consumer actually does and has already done, rather than guessing at what they might do. Identity Resolution is the process of truly knowing a consumer by connecting the dots. There are literally countless data points that share little bits of information about a person, their habits, their interest, etc. By connecting these bits of data, you have a more structured understanding of the person. Our data is compiled by indexing massive amounts of disconnected data and assessing the value of each.
Three Reasons to Use Identity Resolution in Digital Advertising
Identity Resolution Makes You Smarter
It’s a fairly safe assumption that people will want to do things the smarter way, rather than the harder way. The problem is that usually we don’t know better, and therefore make things harder on ourselves. But, with Identity Resolution, we can send smarter ads. The ads are smarter because they are going out to people who actually are our ideal target audience. Instead of guessing that they frequent a specific coffee shop, we can know that they do and send them ads based on that location. Instead of guessing that a certain household needs a new car, we can know that they are in the market for one and offer up great deals to them. Identity Resolution is how to advertise in a truly smart way.
Identity Resolution Makes You Faster
If you’ve hung around sales conversations long enough, you know that there is a process you have to take a customer through before they convert and purchase. People have to be aware of your product, understand the need, be emotionally connected to the need, feel urgency, and have a handful of encounters before they convert. Now, of course, there are exceptions to this where you just happen to show up at the right time and place and someone converts faster than normal. Wouldn’t it be nice if that was the norm instead of the exception? With Identity Resolution, it can be. By using Identity Resolution, you are already meeting the question of want and need in the consumer, and can show up in the right time and place with your ads. By doing so, you not only have smarter ad campaigns, but you spend less money by simply running fewer ads.
Identity Resolution Saves You Money
Let’s do just a little bit of math in our heads: if we don’t have to send as many ads to one person because we are able to send smarter ads, then our cost per customer acquisition goes down. This means that we are spending less on each new customer, allowing us to use our original advertising budget to reach more customers or put that money into other avenues in our business. Either way, by sending only the ads you need for someone to convert, you save money in the end. It’s a win-win!
Identity Resolution is a great way for advertisers to use deterministic strategies to run ads based on quality advertising audiences, smart advertising segments, and high quality data. If you’d like to learn more about how identity resolution can improve your advertising strategy, contact our team today!