Vericast announced its NXTDRIVE customer data marketing platform (CDMP) is now available for retail marketers nationwide. NXTDRIVE is the only CDMP that combines first-party data management and marketing activation from a single partner and solution for precise targeting and media delivery across print and digital channels.
NXTDRIVE harnesses the power of machine learning (ML) and Vericast proprietary data and technologies to unify, clean and enrich a client’s first-party data.
A recent Vericast study conducted in partnership with Prosper Insights & Analytics found 73% of respondents agree most first-party data solutions today do not deliver effective media across print and digital channels. NXTDRIVE is built on Vericast’s more than half-a-century of data insights, technology innovations, and campaign expertise to make it easier for marketers to engage customers in a more meaningful and personalized way.
“NXTDRIVE empowers marketers by taking the guess work and complexity out of managing and acting on first-party customer data to drive more performance-based marketing,” said Marc Mathies, SVP, NXTDRIVE at Vericast. “NXTDRIVE propels conversion, acquisition and customer loyalty while respecting consumer privacy and adapting to industry challenges.”
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Data Unification
Machine learning and natural language processing techniques perform identity resolution at a Big Data scale. Central to NXTDRIVE is its cloud-native data engine. The data engine seamlessly unifies, enriches, and manages a client’s first-party data in a privacy-first, compliant manner. The engine processes the client’s unified customer profile dataset, customer transaction data, business location data, product information, and other available datasets along with collected campaign response data to produce various propensity and response models tailored for the client’s customer base and products.
Data Enrichment
NXTDRIVE leverages Vericast‘s Consumer Graph data to enrich a client’s first-party data with curated demographics, in-market interest, psychographic signals, and more. The Consumer Graph is Vericast’s identity resolution technology that uses billions of online and offline intent and location signals from more than 130 million households to uncover new opportunities. The enriched customer profile dataset forms the bedrock of reliable and on-time predictive insights like projected customer lifetime value, propensity of next purchase, and more.
Data Activation
NXTDRIVE instills confidence in campaign performance and helps marketers activate data on intelligence. Machine learning enables both predictive (what might happen) and prescriptive insights (how to influence outcomes) using advanced algorithms. The platform presents dynamic segmentation of the client’s customer base to help marketers gain deeper insights into various customer cohorts based on their past purchases, geo-demographics, RFM (recency, frequency, and monetization value), lifestyle, interests, preferences, conversion propensity, next best product, and other insightful signals. This helps marketers formulate precise physical and digital audiences for retention and acquisition campaigns.
Additional NXTDRIVE features and benefits include:
- Fosters Efficiencies: NXTDRIVE drives efficiency and cost savings by replacing existing and outdated measurement and reporting systems, demand side platforms, data analysis and customer data platform software, among others. Advanced data modeling and AI-powered tools reduce time spent on data integration, preparation, and analysis.
- Continuous learning to improve marketing performance: NXTDRIVE delivers closed-loop measurement and reporting that informs high performing advertising campaigns. The platform creates a continuous learning and improvement cycle for stronger marketing performance and outcomes.
- User-friendly interactive measurement and reporting dashboard: NXTDRIVE’s interactive dashboard leverages best-in-class business intelligence tools to visualize customer data, insights, and behaviors. It also informs the health and quality of data. Campaign results and insights are easily accessible, eliminating the hassle and need to manage multiple dashboards, platforms, and campaigns.
- Navigating changing data protection: NXTDRIVE’s security, confidentiality, and availability controls are audited by an independent third-party to ensure effective monitoring and user access control at both application and infrastructure level.
SOURCE: PRNewsWire