The Hidden Gem: How 2nd Party Data Can Transform Your Ad Campaigns with Matt Taverna
Are you still relying solely on first-party data to drive your marketing campaigns? If so, it’s time to challenge the status quo and embrace the power of second-party data.
Join us for a webinar that will shake up your marketing strategy and show you how to utilize cutting-edge data, analytics, and communication technologies to discover innovative channels for growth, boost sales, captivate audiences, and advertise with precision.
During our session, we’ll hear from data and CPG expert Matt Taverna, Principal at Statara Solutions, a full-service data, analytics, public affairs, and marketing firm, about leveraging second-party data to create targeted and effective marketing campaigns that capture the attention of compliant audiences.
We’ll explore the business side of data, discussing how to collect data compliantly and the use cases for leveraging each data type in your marketing and advertising campaigns.
Whether you’re an entrepreneur or simply interested in learning more about leveraging data for marketing purposes, you won’t want to miss this webinar.
During our 60-min webinar, we’ll cover:
• How to obtain second-party data from trusted data sources
• Strategies for scaling your business using data-driven marketing tactics
• How to keep your campaigns 21+ compliant with DemoGraph
Tune in to our webinar to gain valuable insights into the power of data-driven marketing for the industry.
Data Hygiene Can Improve Revenue By 15% for Cannabis Companies
00:25:19 – 00:27:19: Jake Litke, CEO of MediaJel, and Matt Taverna, Principal of Statara Solutions, talk about the value of optimizing data. Effective data can translate into revenue growth without increasing advertising budgets. Jake explains how some cannabis companies have seen an additional 15% in revenue after updating their data set. A well-maintained, utilized, and sourced data set holds considerable worth to a cannabis company during mergers and acquisitions.
Data Siloing: The Biggest Data Issue in the Cannabis Industry
00:57:13:18 – 00:57:50: Matt Taverna believes siloing is the biggest concern for data management in the cannabis industry. The combination of data regulations, pricing regulations, and state regulations creates fear. Many cannabis companies aren’t sure what they can do with data sets while remaining compliant with privacy laws that change from market to market. To avoid the risk, they don’t use their data to its full potential, which creates data silos.
How Often Should Cannabis Data Lists Be Reviewed?
00:53:40 – 00:55:00: Jake Litke and Matt Taverna discuss the best cadence for reviewing cannabis data lists. Matt mentions that Statara Solutions includes data management under their contracts. His company runs a monthly data hygiene cadence using machine learning.
When targeting younger audiences, which is common in the cannabis industry, regular data checks are necessary for budget efficiency and compliance. While monthly checks are optimal for effective marketing campaigns, Matt suggests a quarterly review as a minimum for companies concerned about budget constraints.
Regular record management can achieve substantial savings compared to the potential losses incurred by targeting incorrect addresses or non-compliant locations. This discussion underscores the critical role of up-to-date data in optimizing cannabis marketing efforts and preventing waste in advertising budgets.