How has your company been collecting information about customers? Through point-of-sale opt-ins? Email signups? Credit bureaus?
If it’s the latter, you’re likely feeling a pinch. With passage of the Gramm-Leach-Bliley Act came new, strict limits on how companies can collect customer data.
Before this law was passed, a business could simply get a cardholder’s name and address from credit bureaus after each in-store swipe. For many retailers, it was the most relied-upon method for targeted advertising campaigns, optimizing merchandise mix, profiling customers, creating catalogues and much more
Those days are gone.
This presents a big challenge, particularly in the omni-channel era where customer loyalty is driven largely by targeted marketing. Without up-to-date consumer data, you can say good-bye to effective direct mail, flyers, emails and other local advertising.
You may still get some demographic info from credit bureaus—they can share anything that was on file prior to Gramm-Leach-Bliley passage. But with thousands of consumers opening new credit cards with each new low-interest rate offer, that data is quickly becoming stale.
There is another method. And (spoiler alert!) it’s even better than the old way.
eSite Analytics’ newest solution is designed to get highly accurate customer insights in no time, with no new IT required. Here’s how:
- Your local customer pays with a plastic card
It could be any type of loyalty card, gift card, debit card or credit card. The customer’s name, along with the location of the store where the purchase was made, is sent to eSite Analytics. Our sophisticated algorithm then searches zip codes surrounding the store site for the customer’s name. If a match is found, the individual customer is identified and the address is Mosaic code appended.
- Your company receives an algorithm-generated name and address
Our algorithm returns an exact address associated with the submitted name and store. You can then add this accurate data to your customer relationship management software.
It’s a simple, straightforward process that gets you the accurate demographic data you need to improve local store marketing. And it offers several benefits the old credit bureau method couldn’t.
- More Accurate Results. Experian®—one of the world’s largest U.S. customer data warehouses—is updated regularly from multiple sources, making it an extremely comprehensive data source. With access to millions of name and address records, eSite Analytics can quickly and confidently meet—and often exceed—customer data match rates previously provided by credit bureaus.
- Less Infrastructure. With eSite Tools™, this data matching can begin right away with minimal-to-no changes to your existing IT infrastructure. You can get started immediately and start seeing real returns in a very short time. It’s the easiest and fastest way to lay the groundwork for more effective store marketing.
- Deeper Insights. Better still, you can mix this address information with anonymized GPS data to profile customers more accurately than ever. You’ll get a deep understanding of not just where they live, but also where they drive.
Ready to learn more?
Schedule a one-on-one demo with a member of the eSite Analytics team to see how quickly your company can get accurate customer location information.