Share Your Audience Data for Increased Advertising Revenue
The holidays are a time for caring; likewise, the season is a time for sharing – and that’s exactly what many savvy retailers and brands are doing differently to amp up and perfect their media initiatives nearing year-end. Back up – just what are they sharing? Answer: Transparent first-party audience data (i.e. second-party data).
We’ll explain using some real-world examples:
EX.1 hhgregg, a well-known retailer of consumer electronics and home appliances, wanted to increase awareness and sales of their CE & Appliance products. By sharing highly qualified audience data with other major appliance manufacturers (such as LG), consumers visiting those brand’s sites or product pages were then funneled to an hhgregg location. Success all-around.
“By sharing our customer data in the controlled data-sharing environment provided by ownerIQ, we can offer our vendors an extremely relevant audience of appliance shoppers who are ready to buy. Supporting our endemic brands is a huge priority for us, and the benefit to them, as well as our shoppers, is clear – a better user experience leading to more happy purchasers.”
-Andrew Vitale, Senior Digital Marketing Manager, hhgregg.com
EX. 2 The Step2 Company, LLC, a large American manufacturer of preschool and toddler toys, was looking to drive brand and product awareness among parents with children while consistently engaging retail shoppers. To achieve their goals, Step2 was approved to access the first-party data of their leading toy retailer to target active shoppers with digital ads year-round. Another win-win. Oh, and Step2 exceeded their ROI goal by more than 5x after ad exposure.
The proof is in the data.
Forming a cooperative relationship with a data partner of choice is one sure way to generate more advertising revenue and create greater brand awareness, which is especially useful when your campaign goals are coming down to the wire.
At the same time, according to a new study conducted by Forrester Consulting on behalf of ownerIQ, 85% of retailers and brands will have second-party data integrated into their overall marketing strategy within twelve months, implying most are already on the right track. Question is, are you a part of the majority? If not, now’s the time to give data sharing some serious thought.
Your takeaways: Activate your valuable website audience. Choose your data partner to form a second-party data sharing relationship. Achieve complete data transparency.
Looking for more? Access this free eGuide to explore NEW must-know strategies for reaching holiday shoppers that actually work. Learn to:
- Give your customers IMMEDIATE retail satisfaction with location targeting
- Target all high-value users with your marketing message
- Measure marketing campaigns cross-channel
- Reach the largest pool of in-market holiday shoppers with your marketing message