Achieve Transparent Data Sharing with ownerIQ’s CoEx
At ownerIQ, data is kinda a big deal. So big, in fact, that we pride ourselves on having exclusive access to over 1 billion online shopping behaviors each month from retailers, brands, and e-commmerce websites. And not to pat ourselves on the back, but our data’s also wicked smaht. In sum, we’re the proud owner of a ton of really smart data. True story – so we deserve to be a little boastful every now and then.
Sure, what I just asserted was a bit of a blanket statement – so please give me just a few seconds to explain…
You say you’ve got data too…Okay, but let us first ask: what type of data are you using to support your advertising and marketing initiatives? In other words, if you’re using first-party data (your company’s data as based on someone’s interactions with your company website), then cool – but you’ll need more of it to take things to the next level. If you’re using third-party data (data aggregated through various external platforms and websites, and provided by numerous providers) then alright – just as long as you don’t mind others dipping their hands in the same data pool. In other words, first-party data, while highly relevant, is scarce…and third-party data, while very scalable, is a bit murky since you can never be 100% certain in how it was gathered and how recent it is.
In today’s crowded marketplace, if you’re looking to increase the value of your marketing and advertising investments, it’s vital to have the right data set at your disposal. There’s just one problem – you can’t positively impact your digital campaigns without knowing what to improve or more importantly where to start. Hint: You can use some transparency…
You may have noticed that something’s absent from the aforementioned data set assessment…The missing slice of the data pie is one that we suspect you’ve been hearing a good deal about recently: welcome 2nd party data. This no longer elusive data set is sort of a no-brainer and an epiphany rolled into one transparent package – so it’s of little wonder why it’s making a splash. In simplest terms, second-party data is a marketer’s use of another data owner’s first-party data. Share audience data? Yup, you got it. Just imagine the possibilities that accessing someone else’s rich, trustworthy, and insightful first-party data can provide.
I know what you’re thinking – data is an exceptionally valuable and personal asset, so why would anyone (including yourself) agree to sharing data? Well, consider, for instance, the symbiotic relationship of brands and retailers. They already have close relationships, so why not share data as well? ownerIQ’s Co-Operative Audience Exchange (CoEX) platform for retailers and brands provides just that: transparent, safe, and secure second-party data sharing, all while the data owner remains in complete control.
With over 500 brands and retailers actively participating in the program, the need for both transparency and value is real; and that’s exactly what ownerIQ’s providing with the latest CoEx release. Brand partners are making the most of CoEx by sharing their unique audience with their specified retailers, thereby driving greater sell-through of their brand at selected retail channels. The brand dashboard is custom to each brand, highlighting the value each brand partner is receiving from the program through audience usage statistics and easy-to-use tools for engaging their retailers. Likewise, retailer partners are benefiting from the program by marketing to the audiences of the product brands they sell. The retail dashboard is custom to each retailer, with visual displays of their key program metrics and a central location for managing their campaigns.
Now that we have your attention, you can learn more about what’s possible with CoEx and set yourself on the path to advertising success with true data transparency.