It’s common knowledge that data is incredibly valuable to advertisers, but its value to shoppers is not really considered. In reality, data advertising is a win-win for shoppers AND advertisers! Of course, data helps advertisers to better target ads and create more value for ROAS, but it also gives shoppers much in return. Ultimately, it’s all about cooperation, a game of giving and taking. When used effectively, data advertising isn’t just used to reach shoppers to benefit advertisers but to bring something valuable to shoppers as well. How might this be possible? Data can be used to track shoppers’ habits and introduce them to sites that sell products and services they are interested in based on previous web browsing but hadn’t been introduced to yet. While this definitely boosts sales for advertisers, driving new-to-file shoppers to their site, it’s a valuable initiative to the shopper-- helping them find the products and services they need at that moment.
Data advertising also saves time for the shopper, one of the most valuable assets in today’s constantly moving world. Through search engine recommendations, and specifically targeted advertisements, shoppers no longer have to waste time seeking out their buying options. Instead, these options are sorted and customized for them via data. It will even help the shopper find great eCommerce sites that offer what they are seeking to buy! With only 2% of online shoppers converting when visiting an eCommerce site, on average, there is definitely time to throw your hat into the ring.
Advertisers, on the other hand, are not only trying to seek loyalty through data advertising, but also attract new shoppers to their site. By analyzing data, advertisers can get a look at what their shoppers are searching for, in addition to shared qualities amongst their in-market shoppers. By segmenting and tracking shoppers, advertisers can get a better idea of what their customers value. In return, shoppers are seeing sites more tailored to them, meeting their needs and interests directly.
Ultimately, data advertising leads to market-wide innovation that is valuable to both the shopper and the advertiser. When advertisers are able to track shoppers’ wants and needs, they are better able to adapt and innovate to meet those points. This generates immense value because the shopper now has access to products and services that they are in-market for purchasing, while the advertiser sees a boost in their revenue, along with new-to-file traffic from interested shoppers looking to buy. Through the access and use of data, both parties get something valuable and beneficial to them.
Data has completely changed the shopper-advertiser relationship. In fact, it's made a stronger relationship. Data creates the opportunity for communication and collaboration between the shopper and the advertiser. When done right, data advertising creates value for both -- making it a win-win for advertisers and shoppers. If your company hasn’t tapped into the power of data advertising, it isn’t too late! In the next two years, second-party data usage, specifically, in data advertising is expected in increase 26% to reach nearly two-thirds of advertisers. Don’t miss out on the opportunity!
Hivewyre is a forward-thinking programmatic advertising company. Their private data cooperative allows advertisers to share first-party audience data and build targeted campaigns for prospecting new customers based on their competitors’ unconverted shoppers. Hivewyre advertisers have access to fresh, exclusive data that will never be sold to a third party. With over 500 retailers and over 100 million monthly in-market shoppers in our co-op, our distinct advertising strategy allows you to combat rising search engine PPC & PLA costs and the ever-expanding online marketplace growth. In addition to access to the exclusive data, co-op members benefit from full-service account management and detailed reporting of the return from advertising spend. To learn more about Hivewyre, visit www.hivewyre.com.