Data onboarding is a way of gathering different type of datas on the same boat, to be able to have a complete overview of your customer.
How was it then?
Before the Internet existed, marketing campaigns were run in very different ways. The marketing tools were numerous but often inaccurate, and the direct results were not easy to measure. The big difference between now and then, is in the use of the information that is in the brand’s hands, and the time it takes to the advertiser to measure and optimize the impact of its advertising campaigns. Brands have a lot more information at their disposal and they can use it to make a big difference.
For a long time, a brand could only get information on its clients’ behaviour in-store thanks to the fidelity card for example. The direct actions towards those consumers were mailing, emailing or in-store promotions for example. This « offline data » is part of a company’s CRM (Consumer Relationship Management) and is proprietary data, which means that this is an information that is free and coming from direct clients’ interactions with the brand.
Go further with digital
With the rise of digital, the advertising world has completely changed. The company now has more precise information on its users and consumers thanks to what we call first, second and third party data.
First Party Data
A brand can now easily gather proprietary online data: the consumers’ behaviour on the brand’s website, the time spent on each page, the articles they have been looking at, at what point it left the website and so on. That cookie-based data, or first party data, is basically the information about your already-existing users and consumers and is considered as extremely qualified information as you know this person is interested in your products. This data is thus very useful for brands’ advertising campaign through retargeting with personalized recommendations, there are so many different ways marketers can use it.
Second Party Data
To enrich its client knowledge and reach potential new clients, a company can also buy another company’s first party data: the second party data can be seen as a complementary partnership. For example, as Danone does not have an e-commerce website, it decided to get second party data from Carrefour. This partnership with this e-commerce retailer allows Danone to get information about the users that bought Danone’s products on Carrefour’s website. Danone can also know what other products they have purchased or seen, and thus can adapt its message in further marketing campaign, push one product more than another to a particular audience, etc.
Third Party Data
It is also now possible to buy data from a data provider: you would like to reach a very particular audience (males from 25-49 that like fishing in rivers for instance), it is possible with what we call third party data. But everyone has access to this data, so it is considered as less qualified information.
The important thing in a marketing strategy now, is to address the right message to the right person at the right moment. An ad that is effective is a relevant ad. According to survey conducted by Yahoo! and Interscope Research in 2014 « People spend 25% more time fixating on ads that are personally relevant to them versus those that are not ».
People would think that all the online information gathered here and there could help find the right message. It is true, however, as said Bob Intarakumhang, senior manager for digital analytics at Allstate, “relying purely on an online signal to inform how (…) marketing efforts are driving business for [a company] is a very incomplete picture”. In response to this insight, the solution is called Data On-Boarding.
Data on-boarding is a way to gather and match all online data (first, second and third party) to offline data that a brand holds. In the process of on-boarding the offline data, there is an anonymizing process that removes all personal identifiable information (PII). This allows brands to get closer to their consumers, in real-time with a more than ever client-based marketing strategy. The brand can recognize a client from the moment of research online, to the purchase moment and back to the website to leave a review for example.
The technology of data on-boarding actors can now follow the entire consumer journey, including the Zero Moment Of Truth.
Key for a 360° marketing strategy
Knowing your client is now the best way to increase your ROI as you can directly address the right person with the right message. Thus, activating offline data digitally allows marketers to have a holistic view of their customers which will allow them to take smarter marketing decisions, less silo-ed and more user-centric.