The great news is that you can use the concept of identity resolution to help you manage abandoned carts and increase your dropout income. Identity resolution is the process of connecting online activity and information from multiple data sources to specific users. This capability is highly sought after by marketers, advertisers, data brokers, and government entities, and can be done more accurately and precisely with modern artificial intelligence (AI) and machine learning (ML) tools. Identity resolution software has the capability to collect data from all types of environments, even those that don't have cookies.
To successfully implement an identity resolution solution, it's important to find the right partner. Most identity resolution providers maintain a patented identity graph or database that contains all known identifiers associated with individual consumers. Although it may seem like a daunting task for customers, identity resolution is an effective way to respect their privacy while providing them with relevant advertising experiences. By creating an identity graph based on their own data, companies can both maintain control over their data and improve campaign performance and customer experiences.
Identity graphics can also incorporate demographic, behavioral, financial, lifestyle, shopping, and other data collected or licensed from external sources such as online news sites, purchase transactions, surveys, email service providers (ESPs), motor vehicle registrations, voter registration, and other public records. Identity resolution is a great way to connect with customers and build lasting brand relationships by providing deep knowledge. Rather than creating multiple identity profiles for the same person, identity resolution helps you recognize a person at all touchpoints and customize their shopping process specifically for them so they have an excellent and consistent experience. Each provider has unique identity management methods but in general most take one of two approaches to identity resolution: probabilistic or deterministic.
Without identity resolution you won't know anything about what that customer likes, what device they use most often or anything else about them. The “unified view of the consumer” also known as the “360-degree view” or “vision of the connected customer” is a popular topic in today's marketing world. With a strong, accurate and up-to-date identity graphic companies can unify their view of customers to offer better marketing experiences across devices and channels. Identity resolution is the process by which customer interactions across platforms, channels and devices are connected to a single customer profile.
While identity resolution refers to linking data and online activities to specific people or users, entity resolution is the same process that applies to linking disparate sources and fragments of information to specifically identified elements or any type of entity human or not. Both approaches have their advantages and disadvantages which should be considered when choosing an identity resolution platform. Additionally it's essential to ensure that your potential identity providers regularly update offline connections such as demographic data.