Today, in a world powered by data, it’s critical to lean into data collaboration to maintain a competitive edge. But what exactly is “data collaboration” and how can it improve your advertising performance?
LiveRamp’s CEO Scott Howe breaks down what data collaboration is, how it moves the ROI needle, and why no single company has enough first-party data to get a holistic view of their customers – not even Amazon, Google, or Netflix. That’s why companies must work together to win in business and delight their customers.
“For decades, smart marketers have understood that they will get better results with customer information. But together, if companies collaborate with their data, they have a much more complete, perfect set of information and customer view,” Howe said.
Watch now to see how data collaboration can help you deliver a better customer experience and business results you can’t afford to miss out on.
Hi, I’m Scott Howe, CEO of LiveRamp, and Here’s the deal…
Data collaboration is more important today than ever. For decades, smart marketers have understood that they will get better results if they collect information and utilize that about their customers. And that led for the last thirty years to this growth of first party CRM data. But you know what? That’s no longer by itself enough. We live in a complex, fragmented world. Consumers are are capturing information at hundreds of different touch points, including Internet, search, CTV, linear television.
And in addition, no company, even the largest companies in the world like an Amazon or a Google, none of them have a complete set of information across all the various touch points. But together, together, if companies start to collaborate with their data, they do have a much more complete, perfect set of information. And let me give you an example. Let’s take any CTV provider, a Netflix, a Peacock, a Disney+. They have deep, consented viewing information that, when paired with perhaps what you know about your customer — purchase information, loyalty information –it’s the combination of those datasets that can unlock something truly amazing. And so it allows you to serve a better message in a better context, at a better destination.
A second really important reason for data collaboration now is that we’re operating in a global economy that’s somewhat uncertain.
And whenever there’s a danger of a recession, the first thing every CEO on the planet does is turn to their CMO and say, we need to make sure that every advertising dollar, every messaging dollar is spent effectively.
And how do you do that? You measure the return on investment. And the only way you can measure the return on investment when you’re spending across hundreds, if not thousands, of different channels is to collaborate with each one of those partners to send signal and bring signal back. That data collaboration allows you to unlock a much better ROI. But perhaps the most compelling reason for data collaboration is your customer.
Smart companies deliver better customer experiences, And customers crave that personalization, the better deal, the better opportunity.
You can only do that through data collaboration.
And if it drives a better customer experience, why wouldn’t you make that a priority?
