Imagine a customer’s journey: they start on your mobile site for winter boots, download your app, and later switch to a desktop. They purchase via the app and, months later, buy sandals from an Instagram ad. In today’s world, multi-device, omnichannel journeys like this are common. The average customer needs six touch points before buying. Can your tech stack unify these interactions for a seamless, personalized experience?
Based on the information provided by IAB, a significant majority of marketers, specifically 60%, express that their primary difficulty lies in developing a cohesive understanding and connection between various touchpoints in customers’ omnichannel journeys.
Here’s where identity resolution steps in.
What is Identity Resolution?
Identity resolution refers to the procedure of assigning customer actions and engagements with your company – on various touchpoints, platforms, or channels – to a solitary, consolidated customer profile. This unified customer profile can be accessed by any department within your organization, enabling them to enhance personalized customer service.
Why is Identity Resolution Important?
Identity resolution streamlines audience understanding. It organizes data, removing duplicates for a clear view. This enables precise marketing to potential customers.
It also enhances customer journey. By connecting pre and post-account creation activity, it provides accurate product suggestions. Plus, it trims acquisition costs by optimizing marketing strategies based on insights.
Here are a few significant factors that highlight the importance of ID resolution in the realm of digital marketing:
1. Increasing Privacy Regulations
Consumers have raised concerns regarding the privacy of their data, leading some governments to take action through the implementation of laws aimed at safeguarding consumer data and restricting its usage by marketers. An example of such legislation is the California Consumer Privacy Act (CCPA), which grants consumers certain rights pertaining to their data and privacy.
The GDPR, which is applicable in Europe, grants individuals in the European Union the privilege to be informed about the utilization of their personal data and the option to decline data sharing.
Marketers must prioritize data protection and privacy to meet the requirements of both the GDPR and CCPA.
2. Depreciation of Third Party Cookies
Google and Apple plan to phase out third-party cookies, impacting marketers’ ability to track users and target them effectively. Brands must adapt using identity resolution and first-party data strategies.
3. Increased Consumer Demand for Personalization
In today’s landscape, customers seek personalized marketing that respects their privacy. ID resolution achieves this balance. It enables transparent, compliant data collection, forming a comprehensive identity graph. This data empowers tailored experiences, fostering loyalty and trust.
How Does Identity Resolution Work?
An identity resolution platform is utilized to merge various data sources and create a unified understanding of consumers across different devices and platforms. This technology typically provides the following benefits:
- Gathering data across diverse environments, even in cookieless settings.
- A steadfast individual or household ID for unified insights across platforms, devices, and browsers.
- An identity graph consolidating device IDs, customer data, and behaviors for a holistic view.
- Prioritizing consumer privacy through transparent and compliant data collection practices.
- Choosing the right identity resolution platform amidst the array of options can be daunting.
Top 5 Identity Resolution Software
Selecting the ideal identity resolution software involves various considerations like pricing and features. Whether you’re actively seeking a platform or just exploring options, this guide simplifies your decision-making process. Let’s take a look at the top identity resolution service providers you can consider in 2023 and beyond:
MarketingCloudFX is a comprehensive revenue marketing platform that offers a range of tools to assist marketers in effectively utilizing customer data. These tools include ID resolution features such as lead enrichment and contact management.
Wunderkind is a cutting-edge platform that combines customer identification, artificial intelligence (AI), and machine learning to provide businesses with valuable consumer insights. With its advanced technology, Wunderkind assists businesses in leveraging their website traffic by identifying significant customer profiles and facilitating the conversion of leads into loyal customers.
LiveRamp utilizes the potential of gathering and cooperating with data in order to assist companies in gaining a comprehensive understanding of their most important customers. Serving as a versatile platform for identity resolution, LiveRamp enables businesses to merge first-, second-, and third-party data with audience segments and profiles, thereby establishing a cohesive and holistic representation of their customers.
Amperity recognizes the complexity of customer data. To address this challenge, they have developed a unique method of ID resolution using AI, machine learning, and deterministic matching. This approach allows businesses to establish a strong data foundation. Amperity’s software and CDP platform offer transparency and flexibility, enabling businesses to extract data securely and create unified customer profiles.
Narrative is a software solution for data and ID resolution that offers complete transparency. This means that businesses can verify the quality, trustworthiness, and compliance of the data they use in their profiles. With its flexibility and speed, Narrative facilitates the linking of customer identifiers across various touchpoints, platforms, and applications, enabling the creation of comprehensive and precise unified customer profiles.
Navigating the landscape of ID resolution is pivotal for businesses aiming to enhance customer experiences and drive targeted marketing efforts. The array of ID resolution software, vendors, platforms, and providers underscores its significance in today’s data-driven world. As businesses seek to establish a comprehensive view of their customers, the services offered by identity resolution providers become invaluable.
By leveraging the right ID resolution platform, businesses can ensure seamless data integration and optimize marketing strategies. The right choice in identity resolution providers can be transformative, propelling your business towards a future of personalized and effective customer engagement. Choose wisely and unlock the full potential of identity resolution services.