by John Egan
It shouldn’t come as a surprise that Oakbrook Terrace, Illinois-based Infutor saw its revenue climb 42 percent from 2013 to 2016. Why? Because Infutor is seizing on rising demand for consumer identity management technology.
That demand catapulted Infutor, founded in 2003, onto Inc. magazine’s 2017 list of the fastest-growing private companies in the U.S. Infutor appeared at No. 4936 on the Inc. 5000. The company’s 2016 revenue totaled $22.2 million.
“The customer experience continues to be a top marketing priority, and that means enabling personalized interactions,” says Gib Olander, senior vice president of product strategy at Infutor. “Yet capturing and resolving consumer data that can help identify individual consumers in an omnichannel world is increasingly difficult due to the siloed streams of data coming from multiple devices, channels and campaign management tools.”
“Marketers that lock down a robust consumer identity management strategy can plan and act on forward-looking trends to move the needle on future identity resolution and personalization challenges,” Olander adds.
Infutor is a gold sponsor of LeadsCon Las Vegas 2018, set for March 5-7. Brian Wool, chief revenue officer at Infutor, will speak at a LeadsCon session titled “Delivering High Quality Leads in Today’s On-Demand Economy.”
Dave Dague, executive vice president of marketing at Infutor, says the company helps deliver high-quality leads in today’s on-demand economy thanks to the mounds of data it amasses.
Dague says Infutor’s data is updated as many as 97 million times per day, including consumers’ names, home addresses, phone numbers, email addresses and IP addresses. In addition, the company keeps consumer histories regarding living arrangements, car ownership and purchase behavior.
All of that data enables marketers to verify the identity of inbound consumers, Dague tells CRMXchange.
“In some cases, consumers make mistakes with the information they submit; in others, submissions are deliberately incorrect and have fraudulent intent. There are even automated fraudulent submissions,” he says.
“While identity verification is not a proxy for creditworthiness, it is a fast and inexpensive method to qualify legitimate submissions from false and potentially fraudulent ones,” Dague adds. “Plus, the additional demographic and psychographic information Infutor delivers with the verification is an effective indicator of a consumer’s willingness to buy and ability to pay.”
As Infutor strives for more growth, it envisions the following five trends changing the landscape for consumer identity management in 2018.
1. Artificial intelligence
Infutor says artificial intelligence (AI) will enhance the importance of consumer identity. How? More marketers are relying on AI to automate decision-making, and learn and predict behavior.
Infutor says consumer identity management will be a cornerstone in ensuring the effectiveness of blockchain by letting companies collect, validate and authenticate a variety of data.
Infutor says chatbots will boost consumer identity management by matching identities with behaviors, delivering a more personalized experience and predicting consumer activity.
As Amazon, Apple, Facebook and Google continue to step up personalization, brands of all sizes will be adding consumer identity management to the mix, Infutor says.
5. Privacy and security
In the wake of a flood of data breaches in 2017, marketers that depend on consumer identity data might run into more laws and regulations designed to protect consumers’ personal information, according to Infutor.
Click here to register for LeadsCon Las Vegas 2018.