VIDEO | Artefact Consulting Director: Data Sharing Makes Sense When Brands Have Mutual Interests

(US and Canada) Samantha Lopez, Consulting Director at Artefact, speaks with Kellie de Leon, Senior Director of Marketing at Treasure Data, in a video interview about using data for organizational advantage, data governance, first-party and second-party data, building data strategies, and creating the right brand partnerships for data sharing.

At the onset, Lopez discusses using data for organizational advantage and the importance of being in sync with customer needs and the environment. She recalls hearing someone speak at a conference about using supply path optimization in media to apply it to actual supply chain logistics for brands. She believes having this conversation is fundamental, as technology can be used to optimize things for advertising, marketing brands, and helping the world.

Further, Lopez speaks about growing conversations around data governance. She asserts that it is now being used for initiatives and efforts, such as data management.

Next, Lopez mentions that she works with retailers and CPG brands to get their first-party data strategy in order. Then, she emphasizes bringing that into a technology platform like ACDP or forming second-party data relationships with different brands for additional insights.

Lopez believes that now is the exact time to build that data strategy, to ensure the availability of golden records, a source of truth, and to build partnerships with other brands. She also consults with brands on their data strategy, business objectives, and tech stack to help them harness data in the most applicable way for their business.

Speaking about first-party data exchange, Lopez opines that when a brand reaches out to another and they have a mutual interest, it makes sense to share data. Regarding sharing second-party data, she states that it is a valuable tool for brands that do not have retailer-level data. It allows brands to co-mingle their data and analyze it more uniquely and interestingly, such as by having access to things like basket analysis.

According to Lopez, this opens up a treasure trove of new marketing use cases that can be done, such as improving measurement, segmentation, and product strategy and roadmap. She maintains that data collaboration is crucial for supply chain operations.

Lopez emphasizes that it is critical to find the right brand partnerships where the data makes sense to be shared and have partners who mutually want to build an analytical powerhouse together. She affirms the need to get involved and investigate the right brands for partnerships and the right cleanroom technologies.

In conclusion, Lopez adds that testing and learning are also necessary to figure out the right approach for the brand. She suggests businesses start with marketing and eventually expand their customer relationships by using data in unique and innovative ways.

CDO Magazine appreciates Samantha Lopez for sharing her insights and data success stories with our global community.

See more from Samantha Lopez

We Want to Utilize Data to Connect a Brand With Consumers