Amex Advance combines predictive insights with Acxiom InfoBase® to increase marketing effectiveness
Acxiom, the data foundation for the world’s best marketers, and Amex Advance, a personalization services business within American Express, today announced the launch of a joint data-driven offering to predict purchase intent across the broad US consumer population.
Currently, Acxiom provides the data foundation for the world’s best marketers. The company enables people-based marketing everywhere through a simple, open approach to connecting systems and data that drives seamless customer experiences and higher ROI.
Acxiom’s Predictive Intent Segments, powered by Amex Advance, uses advanced machine learning to predict when consumers will be in-market for a purchase by combining spending insights from American Express’ network with Acxiom’s InfoBase® data and first-party customer data. Audiences created through the partnership help marketers increase effectiveness by engaging consumers with relevant offers when they are most ready to buy.
Rick Erwin, president and general manager of Acxiom’s Audience Solutions, said, “Marketers fight a constant battle for consumer attention, and Predictive Intent Segments, powered by Amex Advance, helps them cut through the noise and win. Through our application of proprietary data insights, omnichannel audience delivery and commitment to ethical data use, this partnership empowers marketers to engage consumers respectfully at the most opportune times, enhancing the relevance of consumers’ interactions and experience with brands.”
When marketers are unable to identify and reach consumers before they take action, campaigns can be inefficient and wasteful. In teaming up with Amex Advance, Acxiom is able to increase marketing effectiveness by developing audiences based on valuable, predictive insights that go beyond the standardized lists that are commonly available today.
Amex Advance analyzes the vast majority of the $1 trillion in annual spend on the American Express network – data that has been anonymized and aggregated – to develop predictive insights. These insights are applied to Acxiom’s InfoBase data, the richest, most ethically sourced third-party data asset available, to create customized audience segments predicted to have the highest intent to spend.
Marc Ginsberg, vice president and general manager of Amex Advance at American Express, said, “Partnering with Acxiom reflects how important innovative solutions are for marketers to exceed customer expectations, and underscores how valuable big data analytics and predictive data science are in changing customer experience for the better. We’re excited to work with Acxiom to power data insights that positively impact how brands understand and react to their customers’ needs.”
Audiences developed from the joint offering can be activated across channels and devices at national scale by Acxiom, using processes that respect and protect consumer privacy. To ensure American Express® Card Member privacy, Amex Advance never shares personal data with Acxiom Audience Solutions or its clients–only anonymized scores and insights.
The post Acxiom and Amex Advance Launch New Data-Driven Offering to Predict Consumer Purchase Intent appeared first on MarTechSeries.
Source: MarTech Series