In the 1980s, a popular TV commercial showed two consumers bumping into each other, one eating chocolate, the other peanut butter. Thanks to that mashup, brands have never relied on serendipity to make strategic product decisions. Rather, they build data science teams to gain insights about customer tastes and the best pathways for selling. Data clean rooms are allowing for data collaboration between CPG companies and their partners, but CPG companies are famously long in analytics.
Retailers and media companies have rich transaction and loyalty data that CPG companies are otherwise blind to, so they can collaborate to benefit each other. For instance, CPG companies can provide retailers insight into whom they should target with a new product, while gaining better understanding of campaign effectiveness. Data clean rooms are creating a secure environment for data collaborations to occur more frequently and build strategic bridges between CPG brands and other manufacturers.
Data collaboration is the art of the possible, and CPG brands and manufacturers can create their own solution to invite their partners to collaborate. This allows them to gain insights into their partner's first-party data and run their analytics in a secure environment. This will create more meaningful and mutually beneficial relationships.
Brands as the Center of Data Solutions? It's Already Happening
Don't worry ... it's FREE!
A pivotal shift in programmatic advertising is long due as enhanced measurement practices challenge the traditional ad stack and reshape the economics of programmatic. Learn more.
Which features do users consider essential in a content management system (CMS)? Which features do they wish their CMS had? Which CMS trends are they interested in pursuing?
In an age when every digital interaction by potential buyers leaves a trace, salestech can help sellers and marketers harness a wealth of data. As a result, customization, at scale, is both possible and necessary.
When businesses use chatbots, they improve engagement, lead generation, and customer experience. But what, exactly, can chatbots do for marketers? Here are the top 5 benefits.
In the race to build bigger and better solutions, martech vendors have ended up with so much "extra stuff" in their products that doing even basic work has become difficult. The result for marketers: frustration and wasted time. What can be done?
CDP and CEP objectives overlap, but their primary functions differ. This article highlights the roles of CEPs and CDPs, real-world use cases, and ways they enable customer-centric strategies.