IDify has set its sights on solving what many believe is the most critical problem facing marketers today: bad data. It recently announced that it has tapped former Nielsen Executive Vice President Scott McKinley as CEO to lead it on its transformative journey.
IDify has been investing in proprietary data assets and technology over the past two years. Today the company is growing at 250% annually helping customers including Oracle, Neustar, Conversant, and Nielsen, among others bring transparency and accountability to digital and addressable marketing.
According to industry estimates, low-quality data and data processing methods cost marketers as much as $300 billion in waste, largely from ads that fail to reach the right people.
“Sophisticated marketers are increasingly aware of the poor quality of targeting data and the problems it causes,” says IDify Chief Executive Officer Scott McKinley. “And there is a cost to being wrong. It hurts the marketer’s ROI, drags down the publisher’s margins, and erodes the consumer’s experience. IDify is fixing this problem by ensuring that any addressable asset reaches the right person, with the right attributes, on the right device – or that message doesn’t get delivered.”
Historically, the marketing industry has focused on delivering scale, not accuracy. Observed accuracy rates in addressable marketing range from 5% to 20%, which means more than 80% of a marketer’s budget may be wasted. IDify shifts the focus from reach to accuracy by unifying data at the individual level so that marketers and suppliers can accurately identify consumers across the physical and digital world. This enables precise and relevant person-level communications, which benefits both marketers and consumers.
IDify leverages proprietary data assets and technology, a top-tier list of customers, a network of hundreds of high-quality data partners, and a proven management team. The company has also announced that it is raising $15 million in venture capital and is considering offers from both strategic and institutional investors.
“We are very excited about the rapid growth of our business,” says IDify co-founder and President, Gregg Galletta. “Historically, accuracy and data quality have been fundamental to marketing channels such as direct mail, and our goal is to bring the same high standards to the entire marketing ecosystem. We believe IDify can create transparency in the industry to make sure that marketers get what they’re paying for in digital marketing.”