Introducing Identity Resolution with Simon CDP
Tracking and identifying users is currently difficult even with the use of third-party cookies. However, before we know it Google will have depreciated the use of third-party cookies in its Chrome browser. In their absence, identity resolution will become an even bigger focus for organizations going forward.
What is Identity Resolution?
Identity resolution is a way to answer the age-old marketing question- who are my customers? Overall, the process involves matching identifiers of your customers across various systems to build a single profile. This task was notoriously difficult for marketers and typical involves assistance from data or engineering teams.
How Identity Resolution Helps with Personalized Marketing
Identity resolution is a critical part of engaging with users in the moments that matter most. Because identity resolution fills in the gaps of your customer profile, marketers gain a much clearer and full picture of who their customers are. Allowing marketers to have access to comprehensive customer profiles, without reliance on data/engineering teams to fill in the gaps, helps create meaningful user experiences. In turn, these experiences foster engagement and long-lasting relationships.
What is Simon Identity+?
Simon Data’s new product feature Identity + (ID+) helps marketers bridge the gap between the first-party customer data they own and their customer’s identity. ID+ is integrated with our CDP allowing for a much higher identity match rate. This matching is made possible by a broader-based population of data leading to an increase in real-time identification rate of web traffic. The final results are a dramatic lift in digital from the increased scale of behaviorally triggered messages, real-time personalization, and enhancement of first-party data.
Who needs an Identity Resolution CDP, and Why?
The true benefit of ID+ is identity resolution powered by our best-in-class CDP. A CDP allows resolution to use historical data in conjunction with website data in real-time. Without being able to stitch unknown traffic to known users, marketers are essentially leaving money. The main reasons for these gaps are:
- Limited understanding of unique user behaviors
- Inability to send timely, personalized messages with relevant, tailored content
- Missed engagement opportunities with customers at critical moments of their lifecycle
Without a CDP, there are several reasons a marketer may be unable to match their web traffic to known users. A few examples are: cookies and cache cleared, unusual devices, and users logged out of their account. However, Simon Identity+ helps marketers increase their abandonment revenue by stitching unauthenticated identities with known users.
Identity Resolution CDP Use Cases, and Examples
While it’s true, abandonment campaigns typically have a low send volume due to insufficient identification rates, it’s actually highly valuable to find a solution.
The value of abandoned users stems from two main reasons. First, they have proven motivation to buy. Second, they have shown interest in your brand. They have already gone to your website and are interested in what you offer. In other words, they have a high likelihood of purchasing from you if you can get them back to their cart.
Additionally, turning unknown users into known users can better your personalization. These unknown users have already taken action on your website and have provided you with important customer data. As a customer changes website pages, clicks on different products, or types in various searches, you collect first-party metadata for individual users. Learning who this user is ultimately allows you to later send even more personalized messages in targeted campaigns.
However, executing abandon cart campaigns is not without challenges. Identifying abandonment actions onsite even with targetable users is difficult. Additionally, growing the campaign funnel to increase send volume and ultimately engage more users, and increase conversion rates isn’t easy. Marketers spend a lot of time crafting abandonment campaigns, which end up not seeing the results they hoped for.
These challenges are exactly why an identity resolution CDP with identity stitching capabilities is critical to effectively funneling users into unique journeys catered to re-engagement initiatives.
The Value of Simon Identity+
At Simon, we believe that brands are missing out on substantial revenue by being unable to identify a large portion of their website traffic. For e-commerce brands, in particular, this means that they are unable to take advantage of marketing to abandonment use cases. This gap also leads to foregoing abandonment revenue. Identity+ aims to solve this problem by giving marketers:
- Increased audience size
- Boosted potential abandonment revenue
- Better personalization made possible by more customer metadata
But, don’t just take our word for it. The beta results are in and we’ll let them speak for themselves.
Boosting Performance with Bombas
Our first client to use Simon Identity +, Bombas, saw a return on investment in just four days! Bombas has used Identity+ to dramatically increase their targetable audience send volume in an effort to increase their send volume and make their email channel a larger part of their remarketing strategy. Choosing Simon Identity+ has helped them increase their send volume, boost abandonment revenue, and hit more critical points in their user lifecycle. Within only four days of implementing Identity+ Bombas saw a 7.2x ROI.
Click here for a customized demo on how Identity+ can help your business see ROI in just days!