Even Forbes has stated, “data monetization is the next frontier in digital transformation.” While they also rightly stated it’s an essential tenet to use big data to make better-informed decisions, that’s really only the tip of the iceberg. The most powerful use of big data is leveraging it to turn the information you have into profit.
Pivot to Profit
Let’s first understand that we are not talking about selling the information you have on users as a way to generate revenue. That’s not the kind of data monetization we are discussing here. Our focus is using the information gleaned from big data to give you a competitive advantage that ultimately returns you a profit.
Legitimate methods, positive ROI
When it comes to data monetization, it’s important to operate using legitimate, “white-hat” methods to ensure not only legal and industry compliance, but equally important to your bottom line – to prevent user attrition.
ReachMobi has been in business for 15 years by employing data strategically to help our clients monetize their data effectively with lasting and ongoing results. Our approach to data monetization is to use data in an extremely relevant and targeted way, to create a positive ROI while being compliant and legal and legitimate practices.
One of the advantages big data gives you is detailed profiles of both your prospects and existing customers.
Advanced targeting is one of the most powerful components of data monetization. It relies on having a database of consumer profiles. Consequently, the larger the database, the more targeting options.
4 Important Targeting Methods
When attempting to monetize your data, it’s important to know your end goals and who you are trying to reach. Depending on your needs, one or all four of the most important targeting methods can be used for reaching a specific set of prospects for your monetization.
1. Behavioral targeting
Behavioral targeting focuses on reaching individuals who have demonstrated specific behaviors and/or interests with their online behavior and engagement. This can be on your own site, or with other websites, and/or with specific offers no matter where they are.
2. Demographic targeting
Demographic targeting seeks out specific individuals who meet precise demographic criteria. It can also be used to match a demographic index.
3. Geographic targeting
Geographic targeting is just what it sounds like, targeting individuals in a specific, precise geographic location.
4. Contextual targeting
Contextual targeting is one of the most powerful, as it matches individuals to either specific categories or content. What makes this especially powerful is the ability to perform such targeting in real-time, allowing you to reach a specific user at a precise relevant and opportunistic moment.
ReachMobi employs all of the above techniques and has absolutely mastered the art of applying them. With over 15 years in the industry, ReachMobi is the vanguard of the technology which is now considered “must have” in the world of data monetization.
We utilize only compliant, “white-hat” and time-honed methods. We play by the book because we wrote the book.
Powerhouse Targeting Engine
Big data is only as powerful as the engine running it. Just as engine size puts the “muscle” in “muscle car,” that line of thinking holds true when it comes to the size of the engine used for targeting your data.
We maintain a database of more than 1.5 billion consumer profiles. Yes, you heard that right: 1.5 billion. That enormous engine size is due in part, to the fact that we’ve been specializing in this longer than anyone else, and it’s what gives us massive reach and very robust targeting.
With our own proprietary targeting algorithms, we operate one of the most powerful targeting engines on the planet, being able to run more than 20 billion calculations per day. This industry-leading offer engine can target each subscriber with an offer that is engaging and unique to that individual.
Gaining Audience Insights
Another tremendous benefit that comes through big data, which drives your potential to profit, is the ability to garner audience insights which allow you to refine and optimize your approach. This technology is simply invaluable and is the crux of turning data into monetization.
Gaining insight into your audience allows you to spot trends both good and bad. It’s what allows you to create both efficiency and effectiveness in your methods and strategy. Audience insights from big data help to eliminate blind spots, places where you are missing opportunities, as well as, areas where you are spinning your wheels and burning cash.
Big data analytics is where you refine your lead generation methods and improve your ROI. You simply can’t pivot to profit without it.
Where “audience insights” become extremely powerful is when it is used to create “lookalike audiences.” Lookalike audiences are where you can match up to 20 characteristics with other users to be able to find new prospects who line up perfectly with your ideal customer.
While many other companies might boast of this ability – with our vast consumer profiles and powerful targeting capabilities – we can actually walk the walk when it comes to delivering on such a promise.
Want to learn more?
Let’s talk. Contact ReachMobi today and let’s discuss how we can put you on the fast track to data monetization with your prospects and customers.