Identity Resolution for Enriching Personalized Experiences and Deeper Customer Relationships
As a modern-day shopper, you have an array of choices for a single purchase. Whether through your mobile phone, tablet, smart TV, or a physical store visit, each action leaves behind a digital trail. It can be your email, address, phone number, and more. The digital trail of millions of customers creates a vast pool of data, making it challenging to identify individual customers and their behavior.
The mammoth volume of customer data also presents the hurdle of data privacy, which is increasingly important in the evolving technological environment. As major tech companies like Apple and Google phase out common identifiers, cookie-less advertising has gained urgent attention.
These two key challenges hinder the creation of great customer experiences and limit the effective use of data. Identity Resolution addresses these challenges.
What is Identity Resolution?
Identity resolution is a data management technique powered by artificial intelligence and machine learning that connects the growing volume of consumer identifiers to one individual, building a customer 360 by linking with products and transactions. It involves piecing together data signals from multiple sources to create a cohesive customer profile, enabling brands to understand and engage with customers more effectively. Identity resolution deduplicates customer records through matching, merging, and unifying, linking every behavioral action to a unique customer profile.
A good example of Identity Resolution is a leading coffee cafe like Starbucks. The company provides proximity alerts to mobile users and shares announcements of offers and sales. This demonstrates the power of Identity Resolution.
How does Identity Resolution work?
Identity resolution requires a series of steps, starting from identifying the data sources to creating the golden copy and publishing it to the stakeholders.
The result is an accurate and comprehensive 360-degree view of customer data, including preferences and behavior. It can be communicated to the stakeholders, in the most engaging and relevant way.
Identity and Entity Resolution
We know that Identity resolution is for Marketers, but it can be leveraged at the Enterprise level as well. This section explains data resolution at both Marketing and Enterprise levels.
Marketing Level Resolution
There are 2 types of resolving profile/customer identity i.e.
- B2C – Identity Resolution: This involves identifying and unifying individual consumer profiles, ensuring all data points (e.g., email, phone number, purchase history) related to a single consumer are accurately linked.
- B2B – Entity Resolution: This focuses on identifying and unifying organizational profiles, ensuring all data points (e.g., company name, location, contact details) related to a single business entity are accurately linked.
Enterprise Level Resolution
There are 3 types of resolving profile/customer identity, i.e.
- Customer records: Integrating and deduplicating all customer information across the organization to provide a single, accurate profile for each customer, including their contact details, transaction history, and interactions.
- Supplier records: Consolidating supplier data to ensure that each supplier has a unified profile, encompassing their contact information, supply agreements, transaction history, and performance metrics.
- Product records: Standardizing and aggregating product information to maintain a consistent and comprehensive catalog of all products, including descriptions, specifications, pricing, and inventory levels. Unifying these records enhances data accuracy, improves operational efficiency, and supports better decision-making across the enterprise.
Unifying these records enhances data accuracy, improves operational efficiency, and supports better decision-making across the enterprise.
Unlocking the Benefits of Identity Resolution
- Deeper Customer Insights: By connecting data signals from multiple sources, marketers, customer behavior data and enterprises can build robust customer profiles, enhancing campaign targeting, personalization, and relevance. This can encapsulate connected devices and information from ISPs (internet service providers)
- Personalization Accuracy: Accurate identity resolution fuels personalized campaigns and interactions with customers by maintaining consistency of identifiers.
- Seamless Customer Experiences: Automated identity resolution enables a unified view of the customer journey, reducing duplicate contacts and enhancing interactions across channels.
- Stronger Privacy Governance, Risk, and Compliance (GRC): Effective identity resolution supports data governance with privacy compliance and builds consumer trust. It simplifies preference management and ensures compliance with regulatory and corporate policies.
- Enhanced Cross-Channel Attribution and Campaign Tracking: Persistent IDs allow for accurate measurement and multi-touch attribution, improving the understanding of campaign effectiveness across different channels.
- Improved Marketing ROI: Identity graphs reduce data overlap and duplication, making marketing spending more efficient.
Foster Better Customer Relationships with Identity Resolution
Identity Resolution is a powerful tool for building strong connections with each customer. By combining different pieces of information into one profile, we can create super-personalized experiences while keeping privacy in check. When we use the right strategies, it’s not just about engagement and ROI—it’s also about earning customer trust and loyalty.
At V2Solutions, we stay ahead of the technological curve by offering cutting-edge data management solutions. Our experts design tailored Identity Resolution systems that create -unified customer profiles based on your specific needs, elevating customer engagement efforts to new heights.
Let’s connect to create strong customer connections with effective Identity Resolution.
Note: The blog was an introduction to Identity Resolution; stay tuned for our upcoming blog, which will give you a deeper understanding of the topic and its approaches.