The New ‘Co-op’ Isn’t Retail Ad Budgets, It’s Audience Data
OwnerIQ was featured in MediaPost on December 5th, discussing their audience data and the 1,000 permission based exchanges between 570 national and retail consumer brands in the first-off-its-kind CoEx platform.
“OwnerIQ has cleared more than 1,000 exchanges between 570 national and retail consumer brands. What makes it work, says OwnerIQ Founder and CEO Jay Habegger, is that both sides have complete control over what consumer data they exchange and with whom.
He says that control is crucial, because retailers want to avoid so-called “channel” conflicts in which their consumer data might fall into the hands of another retailer competing in their territory or online. Conversely, he said major national brands need to ensure that data about their site visitors doesn’t lead to conversions for a competing brand’s products. Those channel conflict controls are enabled through the platform, which OwnerIQ calls the Co-operative Audience Exchange Platform, or a shorter, more tongue-friendly “CoEx.”
The exchange has two immediate values for both consumer brand marketers and retailers. One is that they can make a market out of their audience data by selling it to someone on the other side of the retail marketing process without creating a channel conflict. The other, as Baron’s Mike Baron noted, is they can build their audience reach among new consumers.
“This is moving from a very rare and unusual thing to something that is becoming more of a regular way for business to be done,” says OwnerIQ’s Habegger, citing the platform’s 1,000th exchange milestone.”
Read the full article by Joe Mandese of Mediapost here.