Data Cooperative and New Platform Feature Democratize Data for Small to Medium-Sized Retailers
Springbot, a data-driven marketing platform for eCommerce merchants, launched Springbot Exchange, the first data cooperative for eCommerce SMBs. Springbot Exchange provides retailers access to data and resources typically only available to large retailers. Audience Expander, the first available feature of Springbot Exchange, helps marketers access new audiences and expand the reach of their existing marketing efforts.
Audience Expander algorithmically matches a retailer’s anonymized customer data to identify look-alike prospects in Springbot Exchange. Automated email marketing campaigns are then sent to the consumers most likely to engage with the retailer’s brand. Privacy and security are enabled by managing the retailer’s access to the look-alike audience information. Retailers are only provided the prospect’s details when the consumer engages with the campaign. In addition, any Springbot Exchange participating retailer’s information is anonymized.
With Springbot Exchange, retailers now have access to data from participating Springbot retailers, as well as a significant data pool provided through Springbot’s partner connections. The power of the data cooperative is the identity, location and transactional data across a broad set of retail verticals.
“Larger retailers have been sharing anonymized data and insights for decades, but this valuable information has not been easily accessible to small and mid-sized retailers because of cost and complexity. Springbot Exchange helps SMB retailers unlock that valuable data and levels the playing field for all eCommerce businesses,” said Brooks Robinson, co-founder and CEO of Springbot.
In early 2017, Springbot recruited a board of advisors focused on the development of Springbot Exchange. The Springbot Exchange Advisory Board includes executives with experiences at Epsilon, LiveRamp, Ogilvy and Adobe. Since Q4 2017, beta customers have been testing Springbot Exchange with strong results and positive feedback.
“As an independent retailer, finding new and effective methods for attracting new customers is critical for growth. Having access to Springbot Exchange and Audience Expander has helped us step up our marketing. When applying look-alike audiences to our campaigns, we have been reaching prospects who were previously unavailable to us,” said Kathleen Plate, founder & CEO of Smart Glass Jewelry.
Throughout 2018, Springbot plans to roll out additional Springbot Exchange features to help retailers identify and reach new audiences.
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