CHARLOTTE, N.C., April 17, 2018 /PRNewswire/ — Recent events regarding uses of consumer data clearly demonstrate the need for transparency to anchor consumer trust, brand identity, and data partnerships. Over the last six years, Commerce Signals has built both its platform and business around creating trust and transparency in data. By expanding on existing services to leading financial institutions and retailers, Commerce Signals’ new tracking service ensures the consistent management of consumer privacy and data use across the marketing data supply chain.
“We are past the tipping point with regard to data security. The basic structure of how data is permissioned, shared, used, accumulated, analyzed, sold, and regulated must change,” said Russell Schrader, chief privacy officer of Commerce Signals.
Data-driven marketers need consumer data to optimize marketing dollars and create great consumer experiences, but marketers lose control when data is released to second and third parties. “It’s not uncommon for marketers to have their first-party data located with more than 20 marketing intermediaries—ranging from agencies, DSPs, and DMPs, to identity brokers and attribution vendors,” commented Thomas Noyes, chief executive officer of Commerce Signals. “There is a fundamental, compelling need for data owners to gain awareness and take control of how and where consumer data is used.”
The new tracking service offered by Commerce Signals provides all first-party data owners the necessary resources to track data partners, control use, and set rules that can prepare brands for a dynamic consumer and regulatory environment. To get started, all the marketer needs to do is request an account, register their data partners, and direct their partners using or sharing data to implement a simple notification.
Your Data, Your Rules
Commerce Signals does not hold any consumer data, build audiences or sell advertising; as an independent third party, it holds agreements, permissions for use, and mechanics of access. “This service allows companies to ‘track all’ exchanges,” noted Noyes. “Commerce Signals gives CMOs a mission control view of where data is flowing, for what purpose, under what agreement/policy across the data supply chain and provides a path for them to take ownership and control of their data. If contracts, permissioned uses, policies, or counterparties changed, data flow stops until terms are accepted.”
The value of first-party data is quickly decaying as partners model patterns and proxy data sets to establish correlation. You must take control of your data from both a privacy and value creation perspective.
About Commerce Signals
Commerce Signals is a privacy-centric platform that enables rule-based, controlled use of data between trusted parties. In addition to tracking data use, Commerce Signals measurement service connects advertisers and publishers directly with near-real-time insights from aggregate payment transaction data. The company’s platform gives marketers the opportunity to shift media spend mid-campaign to the marketing tactics that are driving the most incremental sales.