4 REASONS DIGITAL MARKETERS SHOULD CONSIDER AN ONLINE DATA CO-OP

4REASONS

DIGITAL MARKETERSSHOULD CONSIDER

AN ONLINE DATACO-OP

Webinar with:

Jacob RossPRESIDENT ADROIT DIGITAL & Fatemeh Khatibloo

PRINCIPAL ANALYST CUSTOMER INSIGHTS PROFESSIONALS FORRESTER

Jacob Ross became president of Adroit in October 2014. He has previously held leadership positions at Metamarkets, Criteo, Demand Media and Right Media (now Yahoo!). Jacob graduated with honors from Reed College.

Follow him @jacobaross

Fatemeh Khatibloo serves Customer Insights Professionals at Forrester with a focus on the shifting consumer data ecosystem. She has previously worked at Times Two Marketing, Binger Catalog Marketing, Epsilon and Haggin Marketing (now SolutionSet). Fatemeh has a B.A. from George Washington University.

Follow her @fatemehx2

About Our Speakers

CHAPTER 1:

Everything Old is New Again:

The Modern Data Co-opCHAPTER 2:

Better Together:

How Marketers Can Benefit from Digital Data Co-opsCHAPTER 3:

Making the Case for Digital Co-op Data:

A Tale of Two Brands

Everything Old is New Again: The Modern Data Co-op

How do digital marketers stay ahead in the current landscape?

Note: digital display ads transacted via and API, including everything from publisher-erected APIs to more standardized RTB technology; includes advertising that appears on desktop/laptop computers as well as mobile phones and tablets; *includes banners, rich media, sponsorship, video and other

To make predictions about what customers will buy in the future you need to have good data on what they have bought in the past Harvard Business Review

A Predictive Analytics Primer, September 2014

Your 1st-party datais powerful

but doesn’t offer scale

3rd-party data is vastbut can be costly, inaccurate and

often opaque

Better Together: How Marketers Can Benefit from Digital Data Co-ops

© 2015 Forrester Research, Inc. Reproduction Prohibited 9

Agenda

› What is a digital data co-op, anyway?

› Why first-party data isn’t always king

› How marketers should leverage a digital data co-op



A story of three data types

First Party

• “Owned” by your firm

• Generated by interactions with your own audience and/or customers

• Governed by your own privacy policies

Second Party

• May be co-owned

• Shared co-operatively by or between business partners

• Includes data shared by your own customers

• Often anonymized or shared in aggregate

• Governed by a shared set of policies

Third Party

• “Owned” by a vendor

• Usually acquired on a CPM-type basis for specific purposes

• Governed by a purchase agreement

• Can be aggregated or at the individual level


“An online pool of shared shopper data as well as shared first-party digital data from other

brands/publishers.”

Image source: falsefabs.wordpress.com


Privacy and security are primary concerns


But many companies already share data

›38% share some data and analytics with their business partners

›34% share data and analytics with their customers

›19% either already sell, or plan to sell, data and data services to their business partners


Too many questions but the wrong data

to answer them

Too much data but unable to answer

the right questions

16


Marketers rely on more than 1st party data

55% rely on

third-party data

68% rely on data from business partners

– aka “second-party data”


In fact, it’s a critical tool for media strategy


Use a co-op to gain insights at scale

› Forrester has found that second-party data provides more reach than first-party data, which is limited to brand’s own internal data

› Second-party data also provides more granularity than traditional third-party data

› The combination delivers far better insights, at scale, than either first- or third-party data alone


Co-ops enable more accurate reach across channels

›Digital co-ops help brands isolate prospects from their existing customers in digital media

› Then, brands can suppress existing customers from their prospecting efforts, creating far better-tailored acquisition programs, specific to each channel or medium


Better insights improve customer experience›Meanwhile, the ability to isolate existing customers from

prospects enables content and offer customization to each of those segments

›Using selective suppression, brands can create a consistent experience across channels for each segment

› As a result, 46% of marketers using a co-op point to better customer experience as a result of their insights


Ultimately co-ops improve marketing ROI› The combination of recognition + CX + scale = an

overwhelming improvement in marketing ROI

• 42% of survey respondents using a co-op saw better ROIs

• 71% of marketers think co-ops deliver incremental revenue

• 76% of marketers expect to see financial efficiencies in the first 12 months of participating in a co-op

Data co-ops are now being used in the digital world

This transaction data is:

ScalableValidatedSecureActionable

ADROIT DIGITAL SHOPPER COOPERATIVECustomer Success | Case Studies

Digital data co-ops drive better:

• ROI • Customer acquisition • Insights

GOALS

TACTICS

RESULTS

Online-Only Children’s Furniture Retailer

• Prospect for new customers• $6 Return on Ad Spend• % of New Customers at 40%

• Media: Display• Strategies: Prospecting Only• Targeting: Shopper Co-op model, Private Marketplace, Whitelist, Goal-Based Optimization

• Exceeded primary metric goal by 33%, delivering $8 Return on Ad Spend• Delivered 50% new customers

ADROIT DIGITAL SHOPPER COOPERATIVECustomer Success | Case Studies

Digital data co-ops drive better:

• Remarketing • Full-funnel results

GOALS

TACTICS

RESULTS

Multi-channel Men’s Clothing Retailer

• Prospect for new customers and grow remarketing pool to drive purchases• $5 Return on Ad Spend goal across both strategies

• Media: Display, Social, Mobile• Strategies: Prospecting, Remarketing• Targeting: Shopper Co-op model, Co-op Segments, Private Marketplace, Goal-Based Optimization

• Delivered $7 Return on Ad Spend, 40% higher than goal• Adroit was consistently the top-performing partner

Questions?

Date post:	19-Aug-2015
Category:	Technology
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4 REASONS DIGITAL MARKETERS SHOULD CONSIDER AN ONLINE DATA CO-OP

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