IDInteract, a maker of enterprise brand marketing products, launched out of stealth mode on Tuesday with $700,000 in initial investor funding. The company, led by CEO and Chief Architect Matthew Standish, also announced the launch of its Demand Exchange platform.
Standish is a veteran mobile and IT executive. He previously served as the Chief Information Architect at T-Mobile, as well as being the practice director of 4G IP Platforms for the US and Western Europe at AT&T Mobile. His development of the company’s Demand Exchange platform came after experiencing the pain of combining and implementing traditional marketing, Business Intelligence, and CRM systems.
The systems were often complex, expensive, and took upwards of 18 months to onboard. Standish explained:
“After years developing IT platforms that solve business problems, I consistently heard about the wonders of ‘Big Data’ yet struggled to find any value in it using the tools that were available to me. Enterprise marketers … fail to understand the economics of how to influence the demand curve. Instead, they rely on pushing via supply channels like email and paid search results.”
Standish explained, however, that big data “has the potential to change all that.” What is missing, however, is a way to aggregate and analyze the data coming in, leaving marketers “in the dark with no way to understand and immediately act on real-time customer demand signals.”
IDInteract’s Demand Exchange works to fill this gap. The platform helps by aggregating structured and unstructured data from multiple sources. It automatically moves them into 360-degree graphic representations that are easily understood. The graphics provide representations of individuals, groups, events, and communities, called “Personas.”
These Personas are, in turn, analyzed to identify what the company calls “demand signals,” which indicate a real-time interest and intent for specific brands, products, and services. Using the platform, marketers will be able to engage with individuals and prospect clusters more effectively. They can deliver more personalized offers using the person’s preferred digital channel, such as Facebook, Twitter, email, etc. The IDInteract platform lets marketers have a better understanding of consumer purchase intent, giving them an improved revenue conversion and return-on-investment. Matthew Standish added:
“Demand-based customer engagements are non-intrusive and ensure that consumer privacy is respected, while creating a mutually beneficial relationship for both parties. That’s really the soul of IDInteract — changing the direction of supply-based marketing to demand-based interaction.”