Data marketing in Australia is limited because of the size of the market compared to other regions. But the growth of third party data retargeting can help Australian marketers better leverage data, according to Aimclear founder Marty Weintraub.
Speaking at the Online Retailer Conference in Sydney today, Weintraub, founder of US agency Aimclear and self-confessed “marketing evangelist”, said "big data in Australia is small data everywhere else".
"There's not tonnes and tonnes of data because there aren't tonnes and tonnes of you," he told the audience of marketers.
He outlined how a third party data retargeting model that is soon to come to the Australian market can help online marketers better leverage data. It allows online merchants to sell their cookies to other online merchants allowing them to retarget to the audience.
By reselling its first party data, a merchant becomes a third party data provider. The model works in the same way as a merchant buying an ad on Facebook is targeting users based on the social network's third party data.
"In the US we have lots of services offering third party data targeting. It's like Google or Facebook ads but Facebook is just targeting 25% of the internet. You can uses third party data models to target the whole internet. You don't have quite as much of this in Australia [as there is in the US] but it will be coming online in the coming months."
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