LiveRamp® the identity platform powering exceptional experiences, today released “The Total Economic Impact™ Of LiveRamp IdentityLink,” a Forrester Consulting study on the cost savings and business benefits of the IdentityLink identity resolution service. This independent Total Economic Impact (TEI) study shows that a composite organisation using IdentityLink experienced a 240 percent ROI over three years, with a short investment payback period of less than three months. The platform also enables organisations to maintain customer privacy across channels and gain greater control over their marketing stack, according to study findings.
Commissioned by LiveRamp, the TEI study analyses the financial and non-monetary benefits of deploying IdentityLink, a robust privacy-conscious tool for data onboarding, identity resolution and campaign measurement that helps brands identify, segment and target consumers with ‘people-first’ digital marketing campaigns. Forrester’s applied methodology to evaluate IdentityLink’s potential impact included customer interviews spanning the grocery, retail, and consumer electronics industries globally, and an in-depth analysis of the benefits, costs, flexibility, and risks.
The study quotes a senior director of strategic analytics in the retail sector, “For me, using LiveRamp is table stakes, just to gain entry into digital marketing. This is a fundamental component. If you don’t use it, you are just not on par with the industry.”
Forrester found that the composite organisation based on interviewed customers experienced over £5 million in benefits over a three-year period. When compared to costs, the net present value (NPV) benefits equaled £3.8 million, translating to an ROI of 240 percent.
The study also revealed these additional results associated with brands’ adoption of IdentityLink:
? An improvement of £1.9 million in incremental profits from targeted advertising initiatives powered by identity resolution. Organisations were able to activate offline customer information, leveraging a database of unique customer profiles to support their targeted digital advertising campaigns.
? A 5 percent increase in marketing budget efficiency (more than £2 million in benefits). By enacting closed-loop measurement, LiveRamp clients can connect the dots between customers, digital devices and data. They are then able to shift spend to channels that better reach their target demographics and avoid unnecessary spend through ad suppression.
? Greater control over the marketing stack. IdentityLink enables greater control over the group of technologies needed to drive automation, analytics, and measurement of marketing activities. This allows marketers to capture and distribute data across marketing platforms in the way that is most beneficial for their campaigns.
The TEI study also confirms qualitative benefits for brands tapping IdentityLink. The service ensures marketers are able to maintain customer privacy across channels by using LiveRamp to onboard their data instead of having it spread across multiple platforms. Organisations can increase the number of channels to which they onboarded their anonymised data.
“Our vision for IdentityLink was to create a technology that could solve the top challenge keeping CMOs up at night—creating a unified approach for understanding, engaging and motivating consumers across the myriad of marketing channels and devices,” said James Arra, President and Chief Commercial Officer at LiveRamp. “This Forrester study reaffirms the value of our approach and our continued commitment toward driving the next wave of innovation for powerful, effective people-based marketing.”
To view The Total Economic Impact™ Of LiveRamp IdentityLink, please join the live webinar discussing the study findings on Tuesday, April 16th at 3pm BST. Register for "Forrester Study: Quantifiable Benefits of IdentityLinkTM" with Guest Speaker Sam Conway from Forrester Consulting and LiveRamp’s Managing Director Christine Grammier here, and learn how to make marketing more efficient, find new revenue streams, and gain greater control over your marketing stack.
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