Adroit Digital, a performance marketing technology company that leverages shared shopper data to drive marketing results for global agencies and brands, has released new research revealing that those who use data co-ops report improved marketing ROI, customer experience and access to customers across multiple channels.
In the commissioned study conducted by Forrester Consulting on behalf of Adroit Digital, “Leverage a Data Cooperative for Deeper Customer Insights and Better Business Outcomes,” 54% of respondents currently using a co-op state it offers unique access to valuable data not used before. Further, 71% of respondents agree that implementing a digital data cooperative will increase revenue, while 76% report that this type of data sharing lowers marketing expenses. The study, conducted by Forrester Consulting in January, involved in-depth surveys with 103 customer insights professionals and 100 digital marketers from US companies that gauged their use of and sentiments toward data cooperatives.
Additional highlights from the study include:
- 42% of those using a data co-op believe co-ops drive better marketing ROI.
- 40% of those using a data co-op say co-ops provide better access to customers across channels.
- 65% cite shared data from partners as being critical to overall marketing strategy; 88% say it’s an important part of marketing efforts.
- 46% of those using a data co-op think co-ops lead to better customer experience.
“The study shows that marketers understand they cannot limit their digital marketing toolset to only first- and third-party data, and that they must leverage data cooperatives to achieve a more holistic view of their current and potential customers,” said Jacob Ross, President of Adroit Digital. “Sharing data means scaling data. Clients who participate in data co-ops can reach a much larger audience with relevant messaging and gain deep insights into how those audiences are responding, which ultimately serves to drive more sales.”
Adroit Digital’s online data co-op, the Shopper Cooperative, allows participating marketers to contribute their own first-party data with other brands’ contributed, non-personally identifiable, first-party commerce data to target audiences at scale—with the marketer retaining full control of their data. HBM
Adroit Digital is a shopper-powered performance marketing technology company. The company has leveraged an online cooperative of shopper data and powerful predictive modeling technology to drive transformative results for global agencies and brands. Visit adroitdigital.com.