The presentation "Digital Identity: Cut through the lies and make money" by Maigari Jinkiri, VP of Business Development at Celebrus, delivered at the CULytics Summit, explored the critical role of digital identity in enhancing marketing strategies, fraud prevention, and overall financial performance. Here's a summary of the session's key points:
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Challenges of Fractured Digital Identity: Jinkiri highlighted how a broken digital identity system could hinder marketing efforts, attributing, fraud detection, modeling, and paid media effectiveness due to incomplete profiles, inaccurate offers, fragmented insights, and untimely forecasting decisions.
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Identity in Action: The presentation detailed a scenario where digital identity data, from anonymous browsing to authenticated transactions, is captured and integrated, improving marketing attribution, personalization, real-time decisioning, and fraud prevention. Examples include retargeting based on product browsing and calculator usage, leading to significant value gains.
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Marketing Attribution: Utilizing digital identity for retargeting based on specific user actions resulted in a $23.5 million value increase due to enhanced targeting, predictive analytics, and UX design.
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Marketing Personalization & Real-Time Decisioning: The implementation of personalized banners/offers and cross-channel optimization reduced message launch time from three weeks to one day, significantly increasing click-through rates and sales conversion rates, generating over $50 million in value.
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Fraud Prevention: By analyzing single sessions for suspicious activity and implementing real-time flagging rules, Celebrus enhanced fraud detection across mobile and web applications, significantly increasing the catch rate and reducing false positives.
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Real-Time Outcomes: Examples of improved outcomes include a 750% ROI in the first year from retargeting abandoned quotes and applications, a 15% increase in conversion rates through targeted content, and significant uplifts in email click-through rates and predictive modeling accuracy, leading to increased profits.
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Celebrus' Role: Jinkiri emphasized Celebrus' capability to capture online member interactions across digital platforms, integrate data for comprehensive insights, and deliver personalized experiences while ensuring regulatory compliance.
The session underscored the importance of a unified digital identity in driving financial success through improved marketing strategies, enhanced fraud prevention measures, and the ability to offer highly personalized member experiences, ultimately leading to substantial revenue growth and operational efficiency.
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