Growth-focused marketers across diverse industries have achieved significant results by leveraging data co-ops. A data cooperative is an organization that gives individuals control over the data they share. Companies and organizations often share their data with data co-ops in return for aggregate information that can be used in direct mail, email, display, social, and CTV campaigns.
Data co-ops are a powerful tool for marketers, but some feel they are shrouded in mystery. Here we will debunk some of the most common myths about data co-ops to help you understand their benefits and how to get started.
This is a common concern, but it’s important to remember that data co-ops are designed to protect your privacy. All data is anonymized and encrypted, and co-ops have strict security measures in place.
This was once true, but data co-ops have evolved to support a wide range of marketing channels. Today, you can use data co-ops to improve your targeting and performance across all channels, including digital, CTV, and social.
Database marketing lists are based on predetermined selection criteria. Cooperative audiences consistently outperform traditional mailing lists because they are modeled based on recent actual consumer behavior.
While CRM and CDP are valuable tools, they are not a replacement for a data co-op. A data co-op expands your universe and provides you access to a much larger dataset, which can help you create more accurate customer profiles and target your campaigns more effectively.
This is also a common misconception. In fact, the more data co-ops you’re a member of, the better. Each co-op has its own unique data set and modeling methodology. By participating in multiple co-ops, you can gain access to a wider range of insights and improve your targeting even further.
If you’re not already using a data co-op, we encourage you to learn more about the benefits and get started. With so many myths and misconceptions out there, it’s important to get the facts so you can make the best decision for your business. At Path2Response (insert link) we help you uncover more potential new customers and donors.
Marketing leaders rely on marketing databases to reach target audiences and grow their business; and for 30+ years, not much has changed. Started by the founders of the “cooperative” database industry, Path2Response was built on the premise; that “There has to be a better way.”
Today, we deliver high-impact audiences (link to audience creation) built upon real-world data, such as online and offline spending and browsing behaviors. The end result? Campaigns that outperform expectations of other audience providers.
Learn more about how data co-ops can help you achieve your marketing goals.