Epsilon and LiveRamp have authored the whitepaper, “Data Onboarding: The Key to a Successful Marketing Kingdom,” to help marketers understand the power of bridging the gap between online and offline marketing strategies and adopting an integrated view of online and offline data. Together, Epsilon and LiveRamp have successfully onboarded data for over 50 large brands.
Excerpt from Data Onboarding: The Key to a Successful Marketing Kingdom
For years, most major brands have made a massive investment in building a rich CRM database, including data such as purchase history, contact history, and even custom models. That data has become a core tool for offline marketing campaigns. For example, consider your favorite retailer. A store associate encourages you to register for a loyalty program, and you receive a loyalty card. Every time you buy a product with that card, your purchase is logged into the retailer’s CRM system, enabling the company to develop a rich profile of your preferences and purchase behavior.
“By analyzing this information, the retailer can better understand which products you are likely to buy, what types of offers you may find appealing, and how to best use available media to communicate with you. This kind of ‘omnidata’ approach is the key to effective omnichannel marketing.”
– Kerry Morris, SVP, Product Development, Online Solutions, Epsilon
Marketers have poured billions of dollars into developing algorithms and applying analysis on top of this data. As a result, a large marketing database industry was developed to help companies leverage CRM data. Data measurement companies have engineered solutions to help manage CRM data, enrich and analyze it, and activate it across many offline channels, such as TV, radio, direct mail, and email.
“Using CRM data to advertise effectively across channels is essential for marketers who want to reach their target audience multiple times with engaging, relevant, and consistent messaging,”
– Auren Hoffman, CEO, LiveRamp.
By partnering with data onboarders, marketers have the ability to develop more sophisticated campaigns. For example, retailers can target high-value customers and prospects with timely, relevant offers. Meanwhile, CPG brand marketers can target customers who demonstrate certain purchase patterns by measuring that activity through loyalty cards. In the financial services sector, data onboarders can assist with cross-selling or up-selling initiatives. For example, if a customer has a 401K account with a bank, that bank can pitch its other services via online display ads.