DATA IS SO MONEY.
Banks, retailers, and others have lots of data about their customers – and they want to create value from it.
Marketers want put this data to use — to better customize and target offers – and to measure marketing performance.
However, there’s three challenges:
1) Most consumers use multiple cards to pay and purchase similar items at more than one store
2) Marketers want to a complete view into spending – and confidence that there aren’t blind spots
3) Consumers are concerned – and rightly so – about their private details being sold
SpendShare builds data marketplaces – essentially “eBay for data”– that turn these challenges into a win-win.
Using our platform, marketers buy data from multiple data suppliers. We reassemble the piece parts into a whole view for marketers, earning a fee on each data exchange.
Marketers use our products to understand how consumers shop and buy – across competitors.
These insights help them refine their targeting which, in turns leads to better performing ads, increased sales and happier customers.
The data we receive is always anonymous – and we never exchange any individual consumer’s data.
Our products describe the average spending across small groups of anonymous but analytically similar consumers.
Just over 100 days in, we have pending patents, a prototype in the cloud and an active client pipeline for our beta.
Our team has deep data science, marketing analytics and related technology experience.
There’s a lot of similar talent in Richmond — making us excited about RVA’s opportunity to become a destination.
Let us know what you think by tweeting with the tag #RVA Big Data.
THANK YOU RICHMOND!