5 Consumer-Permissioned Data Platforms to Watch
The concept of data privacy has taken center stage in 2023. As consumers grow more aware of the value of their personal information — and the potential risks associated with its misuse — a new paradigm that places power back into the hands of individuals is beginning to emerge. Consumer-permissioned data platforms are at the forefront of this shift, offering a fresh approach to data management and privacy for both consumers and brands.
Consumer-permissioned data platforms collect personal information that third parties can access with consumers’ consent. These platforms give businesses a way to collect and use data that’s been shared by consumers freely and intentionally. That’s in contrast to traditional data collection methods, which often collect data without the consent or knowledge of the consumer.
The use cases for consumer-permissioned data are varied and growing. Although financial services firms were among the first to take advantage, using consumer-permissioned data platforms primarily for verification purposes, brand marketers are also finding that the information that consumers share about themselves can be useful for generating more compelling digital advertising campaigns.
Companies like Attain have become early leaders in the space, measuring sales outcomes from lower-funnel marketing and powering real-time purchase measurement and outcome signals for brands. However, a number of other firms have entered the market recently, each with their own unique take on permissioned-commerce data.
Here are five consumer-permissioned data platforms worth watching right now.
1. Attain: Leveraging Data to Measure Real-Time Advertising Outcomes
Attain gives consumers access to rewards, early wages, and savings tools in exchange for their personal data. This information is leveraged by Attain to measure real-time outcomes for advertisers. Attain collects its data through a suite of mobile apps, which consumers use to share permissioned purchase transactions in the form of receipts, loyalty links, credit card links, and answers to survey questions. The data can then be used to help brand marketers achieve better outcomes from programmatic advertising for their digital campaigns.
2. Qonsent: Capturing First Party Data and Consent in a Transparent Way
When they partner with Qonsent, brands can capture first-party data from consumers in a way that is both transparent and compliant. The low code/no code user experience product enables brands to compliantly capture data, with direct consent from consumers, via “transparent value exchange-based experiences” that can be deployed on any customer touchpoint — from owned property, as part of a social media campaign, to connected TVs and OOH advertising. Qonsent works directly with brands, agencies, and publishers. Earlier this year, the company also began working with the data platform LIveRamp to enable consumers to provide permission to use data about them in advertising.
3. Permission: Creating Opt-In Audiences and Incentivizing Brand Loyalty
Permission is a tokenized Web3 advertising platform where advertisers can offer consumers crypto rewards for their data and engagement. Campaigns run on the Permission Ads platform are created in standard formats, however they’re bolstered by an allocation of digital currency that advertisers can dole out to users as a way to reward engagement and sharing. By asking permission and incentivizing users to opt-in to data sharing, advertisers can build permissioned, first-party audiences in a way that’s privacy compliant and transparent. In exchange for sharing information and engaging with brands by watching video ads or participating in online opportunities, consumers earn crypto rewards, which they can trade or spend on digital and physical goods.
4. MeasureOne: Enhancing Processes Through Access to Data with Associated Credentials
MeasureOne offers brands a way to use consumer-permissioned data for verification, marketing, lending, and credit decisions. MeasureOne works within a company’s own branded websites and mobile platforms. For example, when a customer submits their information to a business like StateFarm for identity verification, that data is actually collected and managed securely and in a privacy-compliant manner via MeasureOne. Businesses that partner with MeasureOne don’t have to worry about tracking the latest privacy regulations when they collect data for purposes like income verification, employment verification, insurance verification, or education verification, because those aspects of compliance are handled by MeasureOne. Consented and verified data is then delivered from MeasureOne back to the business in real-time.
5. Pinwheel: Developing Better Products with Consumer-Permissioned Data
Pinwheel helps financial services companies develop better products with the use of consumer-permissioned data. The company provides its clients with access to consumer-permissioned income and employment accounts, similar to MeasureOne, along with actionable insights that help them make sense of the data, so businesses can quickly verify customers’ information and financial services firms can manage lending risks. By embedding Pinwheel into their websites or mobile apps, businesses should be able to eliminate manual processes when it comes to digitally verifying their customers’ information.
