Successful sports sponsorship helps drive revenue, and that hinges on finding the right match between a property, its partnering brand and its fans.
Judging this match has never been easy. Over the years, third-party data and cookies have been key to targeting fans with highly relevant, personalised activations, but the shifting global privacy landscape and deprecation of cookies is changing what is possible.
Data clean rooms have risen to prominence as powerful alternatives, but even they have limitations. Now, though, datapowa has a new option.
Introducing datapowa VENN
datapowa VENN allows properties and brands to securely collaborate on their first-party audience data. The two organisations upload their separate datasets to VENN via an encryption gateway, and VENN analyses them to provide otherwise inaccessible insights into the fans/customers they have in common. Here’s how it works.
Key to understanding VENN are three core elements: encryption, governance and matching.
- Encryption: datapowa VENN encrypts data via an encryption gateway. The platform then analyses it while it’s encrypted and produces a list of encrypted matches that can only be decrypted with a security key.
- Governance: Typically, only people who have followed the right privacy-ensuring measures can access a clean room, adding complexity to internal processes. As VENN’s approach to encryption means that it only ever holds unreadable data, governance is much more straightforward.
- Matching: Many clean rooms use hashing. Though hashing is effective from a security perspective, it struggles to identify small differences between two records, so ‘Chris Smith’ and ‘Christopher Smith’ may not be identified as a match. VENN uses fuzzy matching, which can identify these minor differences and produce a more accurate set of matches.
Revolutionising sponsorship with datapowa VENN
These key capabilities help us change the way the industry sees sponsorship.
- Due diligence: Before a deal is even signed, a property and brand who are weighing up a partnership can understand the number of fans they share in common and get to grips with the opportunity for growth within the partnership. This can then inform the monetary value of the deal and the KPIs that are set to measure it.
- Redefining ROI: Media equivalency will always be a vital part of sponsorship measurement, but VENN adds customer acquisition and revenue to the mix. By tracking the number of matches over time, properties and brands can attribute acquisition more clearly and land on a definitive monetary return on investment figure.
- Performance optimisation: VENN can be updated with new data whenever it’s available for upload. This means that partners can review performance throughout a season, understand what’s driving customer acquisition and what isn’t, and optimise their strategy during the season, rather than at the end of it. As a result, budget isn’t wasted and the sponsorship can live up to its potential.
The end result is the next evolution of sponsorship, delivering a revolutionary new way for sports properties and brands to strike deals and measure the impact of sponsorship.
To find out if datapowa VENN is a fit for your brand or property and to see a live demo of the software, email us at email@example.com