Navigating 3rd Party Data Challenges: Ensuring Quality and Compliance

With Matt Taverna of Statara Solutions

Think of third-party data as the rocket fuel that can supercharge your cannabis marketing strategies and decision-making—giving you the upper hand in an industry that’s getting more competitive by the day. But hey, we get it—navigating the murky waters of cannabis data compliance and data privacy can be a real buzzkill.

Join Matt Taverna, Data Guru and Principal at Statara Solutions to master the ins and outs of cannabis data compliance, data governance, and privacy. You will walk away knowing how to use third-party data like a pro to maximize your marketing impact while minimizing risks.

During this must-attend webinar, you’ll explore:

Navigating Compliance and Privacy: Understand the legal landscape, and how to vet third-party data partners for compliant practices.

Building Trust Through Transparency: Learn how transparent data governance policies can alleviate consumer concerns and foster trust in the cannabis market.

Responsible Data Practices: Gain insights into sourcing data ethically, securing storage, and empowering consumers to make informed decisions about their privacy.

By the end of this comprehensive webinar, you’ll walk away with a 360-degree understanding of how to navigate the increasingly intricate world of cannabis third-party data and how leveraging data compliantly in marketing campaigns can foster trust and lay the foundation for long-term consumer relationships.

Speakers

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Webinar Highlights

Defining Cannabis Third-Party Data

05:21 - 09:25: Matt Taverna, CEO of Statara Solutions, and Jake Litke, CEO of MediaJel, talk about third-party data, its creation, relevant compliance regulations, and privacy implications.

They define third-party data as information acquired from external sources. This data takes various forms, including digital audiences, mailing lists, and phone lists.

Jake provides an example of third-party data: a digital audience targeted for display advertising campaigns and accessed through a programmatic platform. He clarifies that the advertiser never takes possession of the digital audience. Instead, the advertiser pays for access to a platform that serves ads to an audience based on targeting parameters, which has fewer compliance restrictions than owning a list with personal information.

How Cannabis Marketers Can Apply Third-Party Data

16:15 - 18:28: Jake and Matt explain the most effective and legal ways to use third-party data to reach audiences for cannabis promotions.

First, they caution against buying emails and phone numbers through a third party, which is not necessarily a good practice.

Their conversation features two alternative approaches:

Traditional Direct Mail: Utilizing third-party data for direct mail is legal in all states but subject to specific regulations prohibiting misleading or fraudulent information. Direct mail is a tried-and-true retail tactic backed by a long history of government investment in postal services and residential addresses. This approach is touted for its accuracy in reaching the intended audience, assuming the recipients will read the mail.
Creation of Digital Audiences: Matt also introduces the concept of crafting digital audiences using third-party data, a technique employed by digital advertising agencies like MediaJel. This approach allows advertisers to access relevant data and target specific audience segments within a digital marketplace.

Geofencing: Cannabis Ad Campaigns that Leverage Third-Party Data

18:16 - 22:03: Jake and Matt outline the best targeting tactics from their experience serving millions of impressions daily. Geospatial retargeting is a practical approach where advertisers use a mobile device's historical location data to segment audiences. From this information, advertisers serve ads based on a person's visit to specific locations, such as dispensaries or retail outlets.

Jake distinguishes between geospatial targeting and geofencing. While geofencing serves ads in real-time to people within a particular location radius. On the other hand, geospatial targeting serves ads to audiences who have been to a certain location before. Then, he discusses another strategy that uses anonymized data from companies like New Frontier to target audiences who have purchased specific product categories before, such as vapes or CBD items.

Lastly, Jake shares information about demographic targeting, where MediaJel and Statara collaborate extensively. He emphasizes the challenge of understanding data sources in anonymous third-party audiences. An advertiser must understand how their data partner acquires and categorizes information. Because the advertiser never accesses the data, they can't be sure if a provider distinguishes between vague audience labels like "dog lovers'' and more specific, traceable demographic information. MediaJel collaborates with Statara because of their ability to source high-quality demographic and behavioral data.