Jay Habegger, CEOData plays an indispensible role in delivering actionable insights for the marketers and retailers who are aiming for an increase in sales volume and higher business returns through their digital marketing efforts. Today, 99 percent of retailers leverage some form of re-targeting to support their e-commerce agenda. However, while effective, re-targeting tactics have their limitations:
1. Non-scalable: limited to a retailer’s first-party data
2. Incur an opportunity cost: most retailers pay for 100 percent of the re-targeting bill
“By using solutions like ownerIQ advertisers will have the opportunity to go beyond their first-party data…” as reported in Forrester’s November 2015 Predictions 2016: Media’s Unbundling Accelerates report.
ownerIQ’s media solution takes re-targeting to the next level, significantly improving the cost efficiency of advertising efforts. Retailer’s partner with “The Q” to create custom second-party-data marketplaces, or digital exchanges, between themselves and their product suppliers. Our retail partners can access the rich first-party data of 100’s of their key suppliers, creating a new advertising channel that is as effective as re-targeting, only significantly more scalable.
“Second-party data, or a marketer’s use of another data owner’s first-party data, enables the possibility of accessing key suppliers’ trust worthy and insightful first-party data,” says Jay Habegger, CEO and Co-founder, ownerIQ.
Founded with a simple belief that the future of shopping behavior can be predicted from the past, ownerIQ, a Boston-based ad tech company with offices nationwide, took a different approach to unearth in-market audiences. “ownerIQ’s second-party data sharing platform aids advertisers in knowing exactly who is being reached with their advertising strategies through transparency, relevancy, and scalability,” states Habegger. The firm’s second-party marketplace aggregates over one billion online shopping behaviors each month from retailers, brands, and e-commerce websites.
The Q offers leading programmatic solutions designed to change advertising for retailers and brands by leveraging the power of second-party data.
Second-party data, or a marketer’s use of another data owner’s first-party data, enables the possibility of accessing key suppliers’ trust worthy and insightful first-party data
Our path to purchase is most insightful when considering ‘the where’ and ‘the what’ of consumer shopping behavior
ownerIQ’s CoEx platform is the launchpad into "The Qniverse,” the first and only second-party data marketplace for brands and retailers to share their online, highly visible, and cooperative audiences for dynamic digital advertising. The platform provides transparent and secure data sharing to over 550 brands and retailers actively participating in the program. 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 – fostering a win-win relationship.
Using CoEx, users can choose who can advertise against their audience by approving the advertisers they trust, targeting audiences that are most important to their brand. Users can also block competitors from using their audience data by placing them on a block list–underscoring full control of the data users have and the data they share.
In one instance, LG, a multi-national electronics manufacturer of home entertainment, mobile, and home appliance products, embraced second-party data. With ownerIQ’s full portfolio of retail and brand partnerships to identify tech-savvy TV shoppers, LG’s retailers reached new audiences who have researched its products on the site, resulting in increased sales in both their brick and mortar and online stores.
“At ownerIQ, data is power. It’s our biggest differentiator, and our ever-expanding shopper audience data is the largest in the industry,” says Habegger. The company is forging ahead by focusing on the growth of its second-party data marketplace to make it intuitive for everyone from mega retailers to small specialty brands.