Enrich First-Party Data Assets With High-Quality Location Data to Derive Deeper Customer Insights and Make More Informed Decisions
Factual, the location data platform, announced Data Enrichment, a new product that allows businesses to enrich first-party customer data with Factual’s high quality, real-world visitation data in order to better understand and engage their customers. With Data Enrichment, CMOs and other marketing decision makers can uncover deeper customer insights, enabling them to improve audience modeling based on real-world behavior, amplify data and analytics efforts, and ultimately make better data-driven decisions.
Read More: SYNNEX Announces Plan To Separate Into Two Industry-Leading, Publicly Traded Companies
ata Enrichment enables businesses to enhance first-party data with real-world device movement to uncover customer insights and location patterns. By associating first-party customer information with Factual’s location visitation data, Data Enrichment delivers location attributes as well as behavioral segments associated with a brand’s customers. For example, an auto retailer now has the ability to ingest Factual’s visitation data directly within their CRM and can, among other things, run a campaign aimed at recapturing auto intenders who have been seen at competitors’ dealerships.
CMOs today are increasingly expected to create sophisticated, personalized customer experiences while delivering better ROI, and Data Enrichment helps them succeed on both fronts. Marketers and teams working on CRM, data and analytics, and data innovation can derive benefits from Data Enrichment, including:
- Improved Customer Analytics & Engagement
- Create more unified customer profiles by using location data to fill the gaps between other forms of first-party data that may be sparse or disparate (demographics, purchase data, survey based psychographics, etc), resulting in a more representative, unified picture of a brand’s customers.
- Improve customer analytics and derive more meaningful, real-world based insights that can be activated across all channels.
- Enhanced Audience Modeling & Activation
- Develop representative audience segments and customer models, demonstrate audience affinity, and enhance the value of web and advertising inventory through demonstrated real-world knowledge of customers.
Read More: Business Analytics Company Sisense Raises Over $100m
Data Enrichment can be accessed directly through Factual or through partnerships with major Customer Data Platforms (CDP) and data storage partners to allow streamlined importing and exporting of data within existing workflows. Daily visit feeds can be delivered directly to the customer’s cloud storage or through one of Factual’s Customer Data Platform partners including mParticle.
“Factual’s Data Enrichment enables our customers to develop a comprehensive understanding of their consumers’ real-world behaviors and use that knowledge to enhance the customer experience,” said Patrick Crosby, Head of Partner Solutions at mParticle. “Location data can provide additional, critical context to mParticle’s persistent customer profiles in real-time, and we’re thrilled to offer seamless access to this data directly within our platform.”
Global media companies, brands, and digital publishers are already using Data Enrichment to determine how to best engage their customers, demonstrate customer affinity across their portfolio for advertisers, and more.
“In a world in which there’s an increasing need to verify and enhance self-reported data with actual customer behavior, high-quality, reliable geolocation data is key,” said Ksenia Konkina, Head of Data Strategy, Engine Group. “Factual’s enrichment data closes this gap, as well as enables us to uncover richer and more holistic customer insights, driving more effectively targeted campaign strategy.”
“Data Enrichment gives marketers a huge advantage as they continue to seek ways to personalize the customer experience and make strategic, data-driven decisions,” said Gil Elbaz, founder and CEO, Factual. “The ease with which Factual data can be incorporated into existing datasets and platforms enables marketers to seamlessly unlock deeper customer insights, based on real-world behaviors and activities, than they could access with first-party data alone. We are proud to be among the first to offer location-based data enrichment.”
Factual is committed to protecting the privacy of consumers, and its products are powered by location data that is sourced and used responsibly. Data Enrichment is built upon Global Places and Observation Graph, Factual’s proprietary POI and device datasets. Global Places comprises data on more than 130 million places and points of interest across 52 countries, and Observation Graph interprets the movements of 300 million monthly active devices and filters billions of inputs daily, derived from mobile SDKs. Through Factual’s Place Attachment technology, device activity is directly correlated to POIs to determine accurate place visitation. Factual’s high-quality data is deterministic, always neutral and never bound to specific media, targeting or attribution providers.
Read More: Global Creative Commerce Agency TPN Taps Two New Hires For Chief’s Roles
