This week on the Digital Velocity Podcast, Larry Kavanagh of NaviStone joins Erik and Tim to discuss what identity resolution is, how to leverage it to build first-party data, and how it can ultimately increase your bottom line.
Larry defines identity resolution as,
“…connecting a consumer to both online and offline, all the different interactions that they have. I break it into sort of two categories, first-party identity resolution and third-party identity resolution. First-party identity resolution is connecting all those interactions that a consumer has with a particular brand…but identity resolution is really about connecting those different activities that are on the first-party side, that are associated with a particular brand…third-party identity resolution is really about building audiences for advertisers.”
Larry explains the purpose behind identity resolution,
“So, think about a marketing program where you don’t have to give a discount, you’re not giving away any gross margin. Just by understanding what someone’s interested in, you can get twice as much sales for the same marketing dollar. That’s the goal behind identity resolution, and understanding sort of all of these interaction points is to find ways to grow your business by delighting your customer with what they want without having to give away margin or product.”
Listen to this episode to learn more about identity resolution and how it can help you build first-party data and increase sales.
About the Guest:
Larry Kavanagh is a co-founder of NaviStone and serves as its chief executive officer. Larry is responsible for overseeing the development of big ideas, creating big relationships, and solving big problems.
Larry is a serial entrepreneur and has overseen several successful startups, including DiMinSite, an Ecommerce platform company that made the Inc. 400 list in 2005. He has been a featured speaker at Shop.org, e-Tails, Direct Marketing Association, National Etailing and Mailing Organization of America, and the CohereOne Summit. His work has been recognized through awards from Inc. 500, John Barrett Entrepreneurship, and the Cincinnati Business Courier.