Alibaba Introduces Brand Databank: Data Can Appreciate and Be Deposited like Monetary Funds
On June 7, 2017, Alibaba Group officially released Brand Databank, a consumer data asset management center for brands, which enables brands to fully manage consumer data assets, working as a sort of data bank. Brand Databank serves as the first Uni data asset management platform for brands.
According to Zhang Kuo, General Manager of Alibaba.com, Brand Databank can absorb and deposit every online and offline interaction between brands and consumers, and track the status of brand consumers throughout the awareness-interest-purchase-loyalty (AIPL) process. Moreover, the consumer data is activated and can be utilized in the Alibaba ecosystem. In this way, Brand Databank helps brands to continuously accumulate consumer data assets and catalyze their relationship with consumers.
Moreover, Brand Databank provides a platform for brands to independently operate consumer data, helping them optimize customer lifecycle management.
Brand Databank underwent a test run for six months, has been adopted by hundreds of brands and authorized agencies, and will reach more brands in the future, Zhang Kuo added.
Activate and Increase the Value of Consumer Data Assets of Brands
“As the name implies, Brand Databank regards the consumer data of brands as assets, deposits them, and makes them appreciate like monetary funds.” Brand Databank allows brands to match their own data with the proprietary Uni Identity of Alibaba Group, said Lu Tao, General Manager of Data Marketing Strategy Center, Alibaba Group. Moreover, Brand Databank integrates customer relationship management (CRM), e-commerce data, advertising data, media data, and social attribute data such as Weibo data, Momo) data, and product comments in the Alibaba ecosystem to concatenate “data silos” and aggregate all the data into the consumer data assets of brands in real time. “More importantly, the penetration into data throughout the AIPL journey enables consumer data assets to be traced, optimized, and operated. In this way, the consumer data assets can be activated and their value is fully exploited,” Lu Tao said.
Based on massive accumulated consumer data in the Alibaba ecosystem, brands can perceive consumers in Brand Databank in a more comprehensive and panoramic way so that consumer profiles can be enriched. This allows the brands to analyze and understand the consumers in different consumer groups.
According to Mao Bo, a senior product expert at Alibaba Group, Brand Databank provides seamless connections among multiple marketing scenarios in consumer data activation and application, which are actually the two sections that most brands are most concerned with. Moreover, Brand Databank enables omni-media and omni-channel activation and application of consumer data assets in the Alibaba ecosystem.
“All data will be diverted into Brand Databank to reflect every interaction between every real consumer and a brand in the Alibaba ecosystem.” Brand Databank combines consumer operation channels including Tmall Store Club, personalized flagship stores, and the marketing channels of Tmall such as Super Brand Day, Trial Center, and Juhuasuan, in addition to the advertising channels of Alimama. In this way, Brand Databank truly catalyzes consumers throughout the AIPL process and across all media and channels.
Mao Bo brought up Tmall Super Brand Day as an example. A cosmetics brand promoted beauty products in partnership with Tmall, which helped this brand gain attention from millions of consumers through various marketing tools. The relevant consumer data was then diverted and deposited into Brand Databank, including data from 3.7 million new users associated with this brand on the day. As a result, the consumer data assets of this brand surged by 669% from a day earlier.
Harness the Power of Data
Visualize Data Throughout the AIPL Process for the First Time
“Owning data is not equal to having truly usable data assets, and realizing the value of data is not equal to having the power to harness data.” In fact, all brand owners want to reach consumers, track consumer behaviors, and convert the consumers by using customized data at different stages of their relationship with the consumers.
The AIPL theory is a classic consumer behavior theory in brand management. By exercising this theory, brands can manage consumers in a tiered manner based on the different stages of consumption behavior, and then educate and convert consumers in line with different product features.
However, marketing scenarios and consumers’ time are always fragmented in the wireless era so that marketing tools and data products in traditional markets cannot match this theory. As a result, the brand management planning and implementation methods of many brands fail to help them track and convert consumers. Nor can the brands improve their methods of communication with consumers according to changes in consumer preferences in a timely manner. This prevents the brands from establishing a persistent and stable tie with consumers.
To empower the brands, Brand Databank has visualized consumer behavior data throughout the AIPL process for the first time. By using Brand Databank, the brands can clearly observe and track the characteristics of each consumer at different stages, and then improve brand planning to operate consumers at different stages. In this way, the process of reaching each consumer is tailored, which greatly improves the efficiency of reaching consumers.
Provide Core Support
Implement Uni Marketing
Reportedly, Brand Databank will be the underlying hub of the Uni Marketing product system of Alibaba Group, which connects all the existing marketing tools of Alibaba Group and deposits the data of all marketing activities.
Based on the powerful data aggregation and processing capabilities of Alibaba Group, Brand Databank will effectively address the pain points in the current marketing environment, which include data fragmentation and the inability to truly establish and measure the relationship between brands and consumers, an insider of the industry analyzed. Brand Databank helps the brands to aggregate, analyze, and reuse consumer data across channels, continuously catalyzes the relationship between brands and consumers, and therefore improves the efficiency of consumer operation.
With this move, Alibaba Group truly opens its data capabilities to brands and empowers the brands in a platform-based and product-based manner. With Brand Databank, Alibaba transforms data into assets and releases the power of business data.
Uni Marketing is a data-powered marketing methodology and a marketing product portfolio developed by Alibaba Group. Based on the data infrastructure of Uni Identity of Alibaba Group, Uni Marketing redefines the classic concept of AIPL, turning the process from “awareness,” “interest,” “purchase,” through to “loyalty” into a visualized and operable consumer asset management process. Uni Marketing products include Brand Databank, Uni Desk, Brand Hub, and Uni Strategy.