In early 2017, Springbot, a data-driven marketing platform for eCommerce merchants, recruited a board of advisors who would focus on the development of Springbot Exchange and gathered an impressive list of executives with experience from Epsilon, LiveRamp, Ogilvy, and Adobe.
As the first data cooperative for eCommerce SMBs, Springbot Exchange provides retailers access to data and resources typically only available to large retailers. The first available feature is Audience Expander, which helps marketer’s access new audiences and expands 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. The power of the data cooperative is the identity, location and transactional data across a broad set of retail verticals.
The 2018 roll-out will continue throughout the year with additional features to be added to help retailers identify and reach new audiences. SpringBot is pleased to share that since Q4 2017, beta customers have been testing Springbot Exchange with strong results and positive feedback.
For small businesses, finding new and effective methods for attracting new customers is critical for growth and sustainability. Kathleen Plate, founder & CEO of Smart Glass Jewelry is a SpringBot client. She says, “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.”
“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,” said Brooks Robinson, co-founder and CEO of Springbot. “Springbot Exchange helps SMB retailers unlock that valuable data and levels the playing field for all eCommerce businesses.”
With Springbot Exchange, small-to-medium sized retailers now have access to data from participating Springbot retailers, as well as a significant data pool provided through the Springbot’s partner connections.