The rise of debit and credit card transactions over cash and checks (remember those?) created a wave of data that essentially time-stamped consumers’ daily purchases down to the second.
This sea change in consumer purchase behavior created the need that card-linked marketing technology company Cardlytics, which recently expanded to the UK and snapped up client Lloyds Banking Group, has worked to fill.
Launched by former Capital One execs in 2008, Cardlytics was built on the premise that from this ever-growing pool of purchase data, “you could figure out what people buy and what they’re going to want to buy in the future, which is … a [strong] predictor of what marketing offers the consumers will find relevant,” said Kasey Byrne, SVP for marketing at Cardlytics.
Byrne spoke with AdExchanger further about the platform’s growth.
AdExhanger: How much data, sales and ad impressions do you deliver?
KASEY BYRNE: We drive about $500 million in sales for our advertisers every quarter. We serve about a billion impressions a month. I share that number with some trepidation because our system is not really an impressions system. Really, the way we work is we place a marketing recommendation in a program like Bank of America’s BankAmeriDeals rewards program. The consumer sees it when they log in, so it’s not just an impression. They’ve logged in to their online or mobile banking account. They’re interacting in a private, secure environment.