Businesses need many things in order to succeed, the most important of which is customers. In an age where everyone over the age of 13 comes equipped with a hand-held device or computer, the competition for customers is increasingly fierce.
Add to that the fact that the average number of devices commonly used by U.S. adults is 3.5 per person, many of which are shared, and you’ve got yourself a tight knot to untwist to understand exactly when and where to find your next customer online.
This is why identity resolution is so important, because it is the only way to know you’re reaching the people you intended without wasting money.
What Is Identity Resolution?
Identity resolution is the process of accurately connecting your best prospects to their digital devices so you can reach them online. It should also allow you to recognize that same person when they change devices, or when they change locations.
Consider a potential customer that uses a laptop computer at work, a mobile device on their commute, a PC to complete some personal work when they get home, and a tablet to relax later in the evening. Knowing that these instances are all the same person makes it possible to reach them when and where they are most likely to engage, without wasting advertising dollars on excessive frequency.
IP-Based Identity Resolution
While the concept of resolving the identity of the device user is universally needed for effective and efficient customer acquisition, not all solutions are alike.
Many identity resolution software solutions track IP addresses, which are tied only to internet access points such as modems or routers. Since multiple devices typically operate off of a single access point, it’s impossible to know which device is being used by whom and when.
The Problem With IP-Based Identity Resolution
Knowing only when a router is being used does not determine who is accessing it and on which device. In other words, it doesn’t resolve the identity dilemma and produces a shotgun approach to targeted marketing.
Device-Based Identity Resolution
Tracking methodologies are the source of much debate, but in our opinion tracking IP addresses doesn’t hold a candle to the superiority of Device ID tracking.
Unlike most platforms, DXM’s solution tracks Device IDs. By identifying the device and connecting it to an actual prospect, we know when the individual is online, which device they are using, and when they are most likely to engage. This ability to serve ads at the right time, the right place and to the right person significantly improves the ROI for our campaigns.
How Device-Based Identity Resolution Works
The first step is to build a targeted database. Ideally, having access to first party customer data is the best way to start because it gives us a solid foundation of demographics, psychographics and data touchpoints on which to build a solid look-alike database of prospects. We can produce a database using only second- and third-party data, but first-party data is ideal because it is made up of people who have actually purchased your product or service before.
Once the database is established, we push it into our device graph technology platform that sets to work determining relationships between billions of signals flowing between desktops, smartphones and tablets. Ultimately, itconnects end users to one or more devices. Individual privacy is protected because our technology removes the names of the individuals leaving only a list of devices to market to.
Third-party data overlays let us see when a device is indicating a particular action that suggests that the user is receptive to an ad message. This part is actually part of the programmatic buying process, but works together with identity resolution to help complete the sales cycle.
Proving ROI with Device-Based Identity Resolution
After the sale, we can match back actual customers to their devices to know whether ads were served to them, how many times they saw the ad, and which behaviors triggered a purchase. With this information in hand, we constantly refine the look-alike modeling process to get a more precise prospect list, more precise purchasing behaviors, and more targeted messaging, all of which leads to a perpetual cycle of acquiring more customers more cost effectively.
Only identity resolution via Device ID is able to produce accurate identification of the end user, which is the whole purpose of the process.
Implementing Device-Based Identity Resolution
If you wish to ensure a complete 360-degree view of your customers, prospects and their purchase journeys, contact our team of experts today. Together, you can discuss where you are in your customer acquisition journey, your specific goals, and how our device-based identity resolution platform can guide you to success.
Learn How Your Business Can Benefit From Device-Based Identity Resolution: Sign Up For A Demo Today!