The Importance of Identity Resolution
In our first post, we asked you to imagine having a customer conversation without knowing some basic information.
What if you weren’t sure the name was right or when—and how often or in what channel—to reach out to this person? What if you weren’t even sure what he or she wanted?
It’s safe to say that without solid answers your overall messaging would be ineffective.
Now let’s add some cheer by delving into the Forrester report we’re focusing on in this series—The Strategic Importance of Identity Resolution—because it really nails why knowing your customers and prospects is the backbone of context marketing.
The Customer Experience
The Forrester report speaks to three core goals that form a positive, powerful feedback loop of awareness: coordinated customer experience, deep insight, and better data governance.
Let’s quote Forrester: “Evolving consumer expectations and complex customer experiences put identity resolution capabilities in the spotlight due to its potential to support fluidity between devices, interactions, and data sources … in reaching customers on any device, in real-time, with relevant interactions.”
So the brand experience comes down to identity resolution, and by brand experience, we’re talking about all the ways—large and small, tangible and intangible—that form a customer’s view or perception of your organization.
Connecting online and offline identities (Forrester calls that goal, “the elephant in the room for customer-obsessed marketers”) is essential to craft cross-channel journeys that lead to customers with the highest wallet share, a brand’s most valuable segment.
At LiveRamp, we like to get the elephant out of the room by combining strong, historical offline data with deterministic matching—targeting on the individual level, not the device level—to reveal the full view of a customer or prospect.
The results are actionable insights that produce a customer-focused brand experience that will ultimately drive wallet share and revenue.
According to Internet Retailer, 35% of apparel retailers say their multichannel customers are significantly more profitable than single-channel shoppers.
How well a brand manages data largely determines how well it will do in business, both in getting an edge over the competition and gaining the trust and confidence of its audience.
The importance of getting the data management right can be measured by the cost of getting it wrong. Companies have to be compliant with the relevant rules and laws, and they must give their customers the opportunity to opt out.
They also have to be sure the data they work with is accurate. Reach the wrong person, get intrusive or overly intimate, and you’ve lost a customer—potentially a lot of them.
As Forrester points out, “Firms must use common sense and emotional intelligence when targeting campaigns and personalizing messages to avoid crossing into ‘creepy’ territory.”
The Bottom Line
To quote Forrester again, on a tactical level, identity resolution “provides basic access to accurate information for day-to-day analysis and marketing activities, but strategically it is a proxy for the customer, forming the DNA for customer obsession that binds data, systems, and experiences together.”
In our next post, we’ll take a close look at how the access provided by identity resolution actually works.
Can’t wait that long? Download the report and take a look for yourself here.