Our co-founder and CEO Brian Mandelbaum was recently a guest on the “Rebrand Podcast,” hosted by marketing strategy expert Scott Harkey.
During their chat, Brian and Scott went in-depth about the power of retail media, what metrics really matter in driving outcomes for a brand, and leading Attain through its rebrand journey.
Takeaway 1: Data is an asset class worth billions
Data as a catalyst for value to both brands and consumers was crucial to the genesis behind Attain and its pre-rebrand predecessor, the Klover app.
“The idea around Klover was to demonstrate the value exchange to consumers—if you share data and give expressed, transparent permission to use data, we’ll give you free tools and services to help you better understand your financial life,” says Brian on the podcast.
Why data? “Data powers everything,” he adds, especially in the privacy-focused regulatory environment of the current market.
Data is also a central factor in the power of the retail media market:
“[Retail media] is going to be a $60 billion industry in the next two years. It’s the reinvention of taking consumers’ purchase data at retailers and using it to find the next consumer, sell more products to the same consumers, expand market share, or create new markets.”
The more access brands have to data—their own data and beyond—the greater value they create for future outcomes.
Takeaway 2: Attribution is driving marketers’ interest (and investment) in connected data tools
The explosion in ad tech in the past decade has led to an excess of tools for brands and marketers. But what tools will drive value in the future, particularly for capturing consumer attention and sales?
“There is no shortage of retailers leveraging their customer data and what people are buying—either through their loyalty program or at the register—and optimizing to what we call an outcome,” says Brian. “Because who better to drive an outcome than the retailer themselves, the people that are purveying the actual item? This idea is growing fast because it’s what marketers care about most: measurability and the ability to attribute exposure to a customer.”
When retailers limit access to their sales data, the measurability of attribution becomes much harder to see clearly.
That’s why Attain’s unbundled view of purchases, permissioned by consumers, is so revolutionary. “Finally, we have the technology and data in the advertising technology ecosystem to be able to stitch together exposure to a bona fide sale. Attain is an integral part of that solution,” says Brian.
Takeaway 3: Home improvement spending is down—and other consumer trends
Given this emphasis on consumer data, staying alert to signals and trends is key for a savvy marketer to increase attributable growth. So what’s trending in consumer spending right now?
“Home improvement has slowed down quite a bit. That was one area that was a surprising stat – it was roaring in 2022 that we’re not seeing that much data in 2023. Travel and experience spending could not be a bigger category right now. And streaming: we’re seeing a lot of consolidation. People are shedding streaming services.”
Whether these trends come as a surprise to you or not, purchase data has a multitude of stories to tell. Find out for yourself what signals and trends data has for your brand by requesting a demo for the Attain Data Platform.