OwnerIQ Thoughts from CMO Collective – Dallas
OwnerIQ was proud to co-sponsor and speak at the Dallas CMO Collective on May 9. The day saw presentations by top brands including Kimberly-Clark, IBM, Mott’s, Mary Kay, and 7-Eleven. Discussions covered a range of topics, from marketing ROI and the benefits of technology, to real-world opportunities to involve MBA students and the continued importance of behavioral marketing in the retail industry.
One of the more popular sessions of the day was OwnerIQ CEO Jay Habegger’s timely presentation on the emergence of brands and retailers as media companies.
Jay’s presentation hinged on OwnerIQ’s prediction that by 2014, at least half of brands will be acting like media companies by leveraging their web traffic data to generate new revenue through advertising and sales conversion. As Jay noted, last year, top online retailer Amazon made its quiet move into the world of advertising by creating an ad network using its consumer data, enabling advertisers to run online display campaigns targeting Amazon’s audience, after the consumer leaves Amazon.com and travels the web.
Amazon, like many retailers, recognizes the value of its audience and knows that there is a slice to be had of the $39 billion pie of online advertising spend. Of course, most retailers don’t have the reach and resources that Amazon does and therefore rely on companies like OwnerIQ to manage the collection and segmentation of data and the delivery of targeted ads to choice data segments. With this support, brands and retailers are now able to use their web data not just to optimize website experience for customers, but also to generate new revenue beyond their core business.
Jay acknowledged a couple of the most commonly voiced concerns with sharing audience data: consumer privacy and competition. As for privacy, the advertising industry itself has taken initiatives to ensure the protection of consumer data by forming the NAI and DAA, and providing consumers with in-ad options like AdChoices to learn more about the ads presented to us, as well as the option to opt-out. And, as Jay mentioned, consumers vote with their behavior. In this case “the silence is deafening” with low opt-out rates and low incidence of consumers taking action to even learn more through the AdChoices icon. This action (or lack thereof) suggests that consumers are willing to share anonymous information about themselves in exchange for foreseen benefits they receive online. When it comes to competitors having access to your audience, Habegger says there are defined ways to prevent this from happening that solutions such as OwnerIQ Media Solutions have built into their program.
The presentation was well-received by the brands in attendance, with many seeking out OwnerIQ to ask follow-up questions regarding changes in the retail industry. As always, CMO Collective was a great opportunity for OwnerIQ to meet with top brands and share and collaborate on changes in the marketing landscape.