Business Leaders and Marketers Can Activate Their Own First-party Data, Gain a Unified View Across Sales and Marketing, and Say Goodbye to Third-party Data Reliance
Bonsai Data Solutions a data strategy and performance marketing innovation provider, announced its flagship solution, Overstory, a marketing measurement and activation platform built on first-party data. The first-ever, first-party data platform for marketers, Overstory is the answer to the industry-wide challenges associated with tracking campaign results – including profit attribution – based on third-party cookies. Overstory empowers modern marketers to maximize the value of their own first-party data to collectively grow incremental business returns, and generate value from their advertising efforts.
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“For good reason, marketers have thrown their hands up over third-party data driven investments—they just don’t work anymore,” stated Matt Butler, CEO and co-founder of Bonsai. “The industry is predicting real change in 2024 for marketing tech, where algorithms and first-party data take the lead, a refreshingly pragmatic approach that wise marketers are leaning into now to drive real results growth.”
While third-party cookie deprecation poses new challenges to the marketing status quo, the legacy approach poses challenges for measuring marketing impact, due to efficacy, pixel set up and mismanagement of tracking parameters. Fully 40% of users cannot be targeted or tracked with third-party data, leaving marketers in the dark about what is driving sales. And while third-party cookies comprise up to 75% share of digital marketing spend today, brands actually lose $29 on every customer required via third-party cookies. With Overstory, today’s modern marketer can use their first-party data for matched market testing, multi-touch attribution, incrementality modeling (MMM) and even machine learning buying algorithms, giving them a new level of strategy, precision and speed they did not have before.
Overstory unifies the first-party data brands already have, and it doesn’t require any additional cookies, pixels or tracking code. From growth-stage startups to the biggest enterprises, Overstory can serve any brand with the same precision, speed and scale. Overstory platform solutions include:
− Matched Market Testing—Leverage market-level marketing and business outcome data to identify matched markets, deploy and measure tests with speed, repeatability and confidence.
− Multi-Touch Attribution—Understand the true value of performance media, email, affiliate, loyalty and product.
− Incrementality Modeling—Measure incremental value across the total marketing mix at digital speed with econometric precision.
− Machine Learning Algorithms—First-party trained walled-garden algorithms to buy incremental value at scale.
“Overstory’s predictive algorithm, pCV (Predicted Click Value), retrains Google’s Smart Bidding AI and enables marketers for the first time to perform first-party predictive buying on Google ads,” said Mike Remke, chief technology officer and co-founder of Bonsai. “pCV predicts the value of every click, every day, at an exceptionally accurate level. Gabb Wireless has adopted Bonsai’s pCV model and experienced 28% ROAS versus bidding against traditional Google conversion data.”
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“Bonsai remastered Gabb’s business data model so we could better understand lines, subscribers, add-ons, and revenue streams—all the things that we were previously in the dark on and couldn’t accurately answer,” stated Nate Randle, CEO of Gabb. “Bonsai’s pCV model has tremendously improved our search acquisition volume and efficiency. Now, everything together adds up, the blind spots are gone, and so is the over-reliance on third party tracking.”
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