Data has long been the mainstay of digital marketing and ecommerce has long relied on cookies, online forms, and email activities for collecting information on prospects. Yet, in a fast evolving industry, new strategies for finding data are being developed.
Marketing technology firm SRAX, for example, is creating its BIG platform that will let individuals sell their personal data to marketers, reports MarTechToday. The firm already provides a variety of digital advertising platforms and technology for managing social media accounts.
With the SRAX service, users link their social media accounts and loyalty programs to the BIG platform. The BIG platform gathers additional data by requiring users to create data profiles. It also uses cell phone information to gather location information.
SRAX then sells the data by providing anonymized cookie IDs, mobile device IDs and similar tags. SRAX, however, keeps the user data and maintains that there is no possibility of leakage to vendors.
Users then receive blockchain-generated BIG tokens in exchange for creating their accounts and filling out data requests. They also receive tokens when their data is sold. The tokens can eventually be cashed-in for a share of the revenue pool generated from data sales.
Other firms have developed strategies that involve having users contribute information in exchange for getting access to a broader pool of data. Lucify has adopted this approach. It is a crowdsourced database that provides prospects' contact information.
To gain access to the data, individuals must have an email address associated with a business domain rather than Gmail, Hotmail, or Yahoo. Lucify then keeps information on users who register for the service anonymous. Users who join must share their contacts with Lucify, which then shares the information. The company maintains that its free database provides access to over 200,000 company profiles and business contact emails.
The Internet of Things is also providing novel methods for gathering data, including analyzing driving habits to push targeted advertisements to individuals. Earlier this year, auto-tech firm Telenav of San Diego announced development of an “in-car advertising platform” for cars that connect to the internet, reports SiliconBeat.
To prevent distracting drivers, the advertisements will only appear when the car has stopped or has reached its destination. Telenav maintains that drivers will benefit by receiving highly targeted advertisements.
In one example, if a car is running low on fuel, the technology could inform the driver of the closest gas station and then provide coupons for items sold at the station or at other local businesses.
As its name implies, the Internet of Things will involve connecting a limitless array of items to the internet. Even robotic vacuum cleaners are being developed with web enabled technology. In at least one example, one type of a robotic vacuum cleaner is capable of measuring the interior size of a house. In theory, the information could be used to estimate of the wealth of homeowners. Based on the pattern that the vacuum cleaners use, the technology may also help determine if homeowners need furniture.
Data, while being one of the pillars of digital marketing, isn’t enough to ensure success for businesses. In the modern day of internet connectivity, firms must ensure that the advertisements that they push out are targeted and appropriate for individuals who receive the content.
