633: 5 Ways Your Brand Can Leverage Data to Drive Better Results w/ Andrew Fischer

ABOUT THIS EPISODE

In this episode we talk to Andrew Fischer, the CEO and Co-Founder of Choozle.

LinkedIn: https://www.linkedin.com/in/andrewfischer11/

Looking for a guaranteed way to createcontent that resonates with your audience? Start a podcast, interview your ideal clientsand let them choose the topic of the interview, because if your ideal clientscare about the topic, there's a good chance the rest of your audience willcare about it too. Learn more at sweet fish Mediacom. You're listening tothe be to be growth show, podcast dedicated to helping be to be executivesachieve explosive growth. What you're looking for techniques and strategies or tools and resources? You've come to the right place. I'm Jonathan Green and I'm James Carberry. Let's get it into the show. Welcome back to the BE TOB growthshow. Today we are joined by Andrew Fisher. Andrew is the CEO andCo founder at Choosel Andrew, welcome to the show. Thank you. Iappreciate you having me on. Jonathan, excited to be here. Well,we're excited to have you, Andrew and and today we're going to be talkingabout sort of this idea five ways that brands are leveraging data to drive betterresults, and I'm excited to dive in. You've you send me sort of thethe breakdown ahead of time. But before we get into today's topic,I'd love to hear a little about what you and and your team at chooselare doing these days. Yeah, again, I excited to be here and lookingforward to chatting data with you and how we work with brands on alot of data and our agency partners to and yeah, I guess you know, we create a chooser as a self service data driven advertising platform and wetypically work with independent advertising agencies and brands direct to help them leverage data,Boast First Party and also third party data to both build, optimize and makemore effective their digital advertising campaign. So that's the space we play. We'vebeen doing it for a little over five years. We were founded in thefall of two thousand and twelve and have...

...continue to grow pretty rapidly. Ithink we were rated as the inks hundred thirteen fastest ground company last year.And Yeah, we're excited to help our partners and continue our growth in atwo thousand and eighteen and beyond. That's fantastic. And and yeah, actually, the the ink list is definitely one of the reasons that we sat upand took notice and actually reached out to you so that we could kind oftap into your expertise, you know, for our show and and share thatexpertise with our listeners. So you're definitely the right person to be here withus today talking about this the again, the five ways that brands are leveragingdata to drive better results. I'd also like to say really quickly I kidswhen you said been around for five years. I founded in two thousand and twelve. That sounds like two thousand and twelve shouldn't have been five years ago. I don't know where the time is going, but and there was twothousand and twenty before we know it. Here it's a little cow. Mygoodness, you're not wrong. So yes, congratulations on your five years of success. So let's Andrew. Let's just dive in. Where are we?Where are we starting today? kind of I think this idea of there's aninterplay between marketing automation. You the CRM and they add automation. Tell usa little about that. Yes, absolutely, and again, functionally we often workout at the advertising agency level because a big part of our platform alsois the media or the ad buying piece. But I'll speak kind of from themarketers point of view. Knowing that the agency is typically involved, ifnot the facilitator, of this enterplay. Marketing Automation, you know, prettystraightforward, whether using hub spot, Marquetto Aloquoi or even, you know,I would say, more price friendly platforms, basically about communicating with current clients withprospects, developing sequences, leveraging content in terms of either selling new prospectsthat you have in your database or cross selling, up selling or building relationshipfor engagement etc. Marketing automations a pretty...

...straightforward concept that most people are leveragingnowadays. Then how that interplays with the CRM, as I mentioned, whichis typically going to be your customer database and your customer data platform, therepository where you keep a lot of that information and most of those systems,you know, talk pretty seamlessly nowadays, where you can get information from yourcampaigns to your marketing automation, whether it be email or otherwise, and howthat can be then appended in to a sales force, as an example onthe crum side, but again people using Zoho, sugar, any number ofcrms. Then where we would play would be kind of what we call addautomation and discussing how that date is kind of transferred between the two. Iskind of to illustrate how we would be leverage. So system like choosels,which is, you know, what we would call on the demand side ofadvertising, or the Byside, is we can absorb data directly from a crmsystem, typically in the form of emails, and then once that's data is onboarded into Choosel, will do a digital match. So on the desktop that would be matched to a cookie and in a mobile environment to amobile ID. Match rates typically or between fifty and seventy percent. If it'sa consumer facing type of cerrum list and it's be to be there, typicallya bit lower. And once that date is match, we can provide,you know, a couple key pieces analytics and so we can provide a tonof rich information on those individual users. And this would be an aggregate andanonymized but we'd be able to tell, you know, a client that,hey, did you know that twenty two percent of your current folks in yourcrm you drive this type of car, they've got this type of purchase behavior. They are information sciences. They carry a se level title, literally tensof thousands of bits of information that we can provide on the analytic side.Then of course that then feeds into the media execution piece. So these areour best clients, let's target them with this type of campaign or model thatdata and find other people that look like them. So it's kind of abasic enterplayer between the marketing automation see Drm, and then where we would say itwould be this advertising automation piece.

Interesting and so and I know oneof the things that we were also going to talk about today is kind ofunderstanding the difference between First Party data and third party data. What does thatlook like? Yeah, absolutely so, as you can imagine, intuitively,First Party data is essentially data that you own and the most common relationship fora brand into where its agency is a current customer, someone that's purchased aproduct from them before and or someone who has signed up for an email listthat has opted in to be a part of a relationship with this brand.And so anytime that data is collected or stored and you've got permission, thatwould be your first party data and it's a highly valuable asset obviously, andbrands, more than ever, have a lot of ability to leverage that datafor growth and it also becomes even more important. And not to get toofar to the weeds, but regulation that's changing in Europe, which is calledGDPR, is going to make it even more difficult to leverage anything but firstparty data where you've got a direct relationship. So to contrast First Party data withthird party data, third party data, would almost be thinking of it asother data that you can essentially rent or leverage for the purposes of targeting, study up campaigns etc. So, as an example, within the choosersystem, we have a highly extensive database powered by multiple third party partners.You know, everyone from you know folk like experience that are in the datafield, to Master Card, to publicly available census data, etc. Sothese data segments. Again, irrespective of whether you have first party data,you can always leverage third party data to build a campaign. And then howthey often enter play is, you know, on boarding your first party data,the data that you own, typically customer records. Once you've provided richannalytics and you say wow, okay, we've got a very high propensity forfolks that drive this type of car with this type of job level in thisgeography, then you can model after the...

...third party data to create a biggeraudience. If that process is automated, it's often called look alike modeling,and then you can have a bigger pool third party data for targeting new prospects, as an example, and that's a pretty common flow and it's often referredto as account based marketing. So pulling my accounts, I can do setup campaign specifically to them digitally. By the way, when it's not talkingabout a campaign, we primarily playing the display world, so think of banneradvertising, Video Advertising, mobile advertising, anywhere across the web. I'm nottalking about search and social, which are often complimentary, but not from ourplatform. So that's kind of how you can leverage first party data to setup campaigns and also how it would work to third party data and the distinctionbetween the two. And again, to summarize again, first party data isreally the data that you own, that's day you've collected with permission from currentclients and prospects. Yeah, and and so I you know, and Iknow that I'm sure most of our listeners are from familiar with the concept ofthird party data. But that's also you know, it's there's there's also aninvestment. There you are. It's like you said, it's it's a datathat you are renting or buying and there's a lot that can go into it. But you know who you're who you're getting that information from, how it'sbeing scrubbed. You know that, just in terms of the effectiveness of that. That takes a lot of it takes a lot of research to know whatyou're doing. But I think you also have some some ideas on really howto enrich the this first party data with analytics. Let's talk about that.Yeah, absolutely. So you know, and you should think of choose alittle almost as a kind of your seat into this data space, and wepartner with a lot of larger companies, enterprise level companies in the data space, which will include in your live ramp and axiom, the Oracle data cloud, and there subsidiaries including Blue Ki, and so choose all does. Wehave our own choose IDs. We have a data graph with the ideas thatwe're going to enrich your first party data...

...with some of these major companies thatare huge holders of first of their own first party data, which is yourthird party day, that you can match against, and that's what becomes reallycool, and I one thing that we've done a choose little really democratize thisbased on our partnerships of a lot of these bigger enterprise level players, whereasit's very difficult to build a relationship directly athoricle, as you can imagine,just in terms of cost, you level of commitment, the time of acontract. You know, we've kind of democratize that. So even if you'rea smaller, medium sized brainder agency, you can leverage the choosel tools moreon a one offf basis. But so get the power of these these hugepartners and in effect that would be you know, I take my ten thousandfiftyzero five million email addresses, on board them in a choose al and we'reautomatically going to match them against these multiple third party data partners. And soit's really neat. You know right off the bat you're going to get allthis rich information and we break it in a specific categories of purchase behaviors,betb data buyers and tent demographics, and so as soon as you're on boardthe data within twenty four hours, you can do really cool things on theanalytics level and you know the analysis. that we had now understand the breakdownand gender and demographics and household income and education, and you get even moregrain learned to purchase behaviors and habits and what's cool about our platform and othersthat maybe like it is you can start to use that data analysis to startbuilding out campaigns and say, you know what, we've got a product thatwe know is going to be from our high income users, but also havethese other characteristics, and we can combine those data sets and what we callaudience builder, so you can leverage your first party data match against the thirdparty data for analytics and then really start to segment and build out specific audiencetargets and a campaign could just be limited to those people. You could say, well, I on board of this list, I know the recent purchasers, so I want to then segment out and say I want the high incomepeople, so I want to try to resell across all this product. Butalso we can model the data, which means an algorithm will take let's sayyour twozo best customers are the ones that...

...purchase last month, and then wecan use the data that's mashed against the third party data sets to say here'swhat these people actually look like, then let's go find in the universe ofNorth America hundreds of thousands, if not millions, of people that look likethat to create a look like audience for targeting as well. So those aresome fairly straightaway kind of tools and methods of leveraging first Party data against ThirdParty Day for the purpose of typically growth. Got It. And so, Andrew, let's let's get into this idea of creating a virtuous digital marketing cycle. Tell me like kind of what that is. I I'm sort of I'mdrawing a blank. I'm starting from scratch, so talk to me about it asif I was a child. Yeah, of course. So unique over thelast few years is the amount of data, and again it can beoverwhelming and somewhat intimidating as it's grown, and the over usage of certain termsincluding, quote unquote, big data, etc. But in a very straightforwardexample, about creating kind of a virtuous cycle. Right, we talked aboutthe first part of that cycle, which would be leveraging of your first partydata, and he and I do want to stress that you don't necessarily needto have first party data. Let's say you're a new brand or you're creatinga new product sector, you can come in and leverage third party data basedon your best guesses. And what's Nice about digital data driven digital marketing andtoday's world, especially via a self service platform, is you can test toiterate very quickly and that's a part of the cycle. So, again,whether the campaigns informed from first party data or you know, past information,or we're going to start doing some prospecting based on our best hypothesis of whowe should be targeting, those campaigns can be set up very quickly. Theycan be set up to run. You're going to get real time information feedbackon the success of the campaigns. And again, platforms like choose on onothers. We can do this because we're measuring to a specific action. Typicallythat's going to be online. The can be offline triggers as well. Thatcan be measured but, as imagine, the measurement cycle is much more manualand not in real time. But let's...

...say you're a be tob marketer andyou're looking to drive downloads of a white paper, because we have our smarttag container on the client site, we can measure every time that that papersdownloaded and then optimize to the source of where that came from. So thedata real time is going to optimize the actual campaign and it's the simplest thinkingof okay, we served, you know, two hundred Tho Impressions, a hundredthousand here and a hundred thousand there. The system is basically a be testingin real time to understand what successful and then naturally the system will thenpush impressions towards the source or the publisher that's producing a higher conversion rate.And it's doing that in real time and not just across two websites, oftenhundreds, if not thousands in real time to drive the best overall performance toa campaign, again against a specific action, and in this case would be thedownload of a white paper, to kind of complete the cycle. It'scool as the the the people that we have converted or download the White PaperOne, we've captured their typically their information via email. That can be feddirectly back into marketing automation and serum, of course, but even at thewebsite level, on an anonymous and aggregate we're going to measure the analytics onthose converters and so that is already kind of built an audience within the systemthat says here's the tune. You know, the two thousand people that downloaded thewhite paper. We've captured that particular ID and you know what, we'reproviding analytics against that subset as well. So of your brand new customers,you have a truly rich information on who they are. Can drill down onwho downloaded this white paper. Again, all those same rich analytics that wewould provide against your first party data, we can do it on the websitelevel too, so that informs the campaign and its success. Now worked,and then that particular audience can then again be pushed into our audience builder,into the by side, and or modeled. So often a sequence. Maybe nowthat they're downloaded the white paper, let's serve a sequential message or campaignto them. That would make sense after they downloaded it. and Or,you know what, let's go find two hundred thousand people that look like thosetwo thousand through data modeling and set up another campaign or, you know,poor more gasoline onto the current campaign.

So the data both informs the mediaexecution and the optimization of the campaign itself, and then the results can then beanalyzed and automated back into the by side of the system to kind ofcreate that cycle. This the virtuous cycle, as we've discussed. Very cool.Well, and Andrew, as you've mentioned, as you mentioned earlier,you know, there is more data than ever and can be can be intimidatingto think about how do I leverage it, what's important, what's not? Imean it's just you've got all this information out there, like, whatdo I do with it? So it's so fantastic that we're able to bringon experts such as yourself, well, obviously no, quite a bit aboutdata, to come on the show and sort of share that information with ourlisteners. So, and Andrei, I had prepped to you before, beforewe got started. You know, you started, you help start choose all, like you said, five years ago. We've been asking a lot of ourguests. You're a founder, a cofound or a CEO. What's kindof the legacy that you are looking to leave? I mean, whether it'sthrough choose al or it's or you're, you know, even looking down theroad do to something else. What is that? What does that legacy looklike? Yeah, and you know, I've got many outside interests outside ofchoose a little that ideally you can pursue at some point down the road thatmight be much more meaningful than data driven advertising. But as we stand heretoday, you know, I my legacy, especially in relation to choose Al andwhat we've been doing over the last five years and what we hope toaccomplish over the next several years. It really comes down to the people andyou know, I highly doubt when too formal choose employees get together ten yearsfrom now, I doubt they're going to be talking about a specific campaign ora data strategy or a client. They really talk about their experience of workingtogether and we've we've been very intentional about our culture since we started the companyand we've grown over sixty employees now and it's it's my my greatest achievement isnot necessarily revenue growth and or you certain...

...financial metrics or a new product that'sbeen highly innovative, but the fact that we've been consistently recognized. You know, we were recognized as a age is number one best place to work lastyear and our retention rate has been extremely, extremely high, and that's the legacyI want to leave. I want to create an environment and a companythat's an excellent place to work, and the one thing I've learned over timeto that's not just about, you know, being a cool and or comfortable placeto work right. It's not just about, you know, having kegsof beer and ping pong. All those are nice things to have. It'salso really about challenging people and having them grow. So it really focus onboth sides of that being a great place to work and its achieving that throughmaking people grow and become better employees and better people, hopefully over time aswell. So again, I hope that's our legacy, that when people lookback and we've got this incredible network and fraternity and Sorority down the road atthese these folks have had an amazing experience and we've helped to grow their careerover time. Well, that's fantastic. I mean, of course the therevenue growth doesn't hurt, but I love that answer. It's fantastic, Andrew. If anyone in our audience, if any of our listeners, they're interestedin following up with you about today's topic or they want to learn more aboutchoose all, what's the best way for them to go about doing that?Yeah, you can find US online, of course, at our website,choose ALCOM s h o zeliecom. We've got a lot of great information onour product, our platform, a great blog with a lot of information.You can follow me personally at twitter. I'm at Andrew Fisher underscore one.Yeah, and we've got our twitter handerlay out choose at as well. Welove to hear from anyone that wants to learn more. Yeah, and ifyou're curious learning more about data driven advertising in or just don't want to reachout personally to me, I'd be happy to happy to connect wonderful Andrew.Again, thank you so much for your time today. Was a pleasure havingyou on the show. Likewise, thanks for having me on. It's beenawesome. There are lots of ways to build a community and we've chosen tobuild the BEDB growth community through this podcast.

But because of the way podcasts work, it's really hard to engage with our listeners and without engagement it's toughto build a great community. So here's what we've decided to do. We'reorganizing small dinners across the country with our listeners and guests. No sales pitches, no agenda, just great conversations with likeminded people. Will Talk Business,we'll talk family, will talk goals and dreams will build friendships. So ifyou'd like to be a part of a BEDB growth dinner in a sitting nearyou, go to be to be growth dinnerscom. That's be toob growth dinnerscom. Thank you so much for listening. Until next time.

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