Fyllo, Lotame team up to improve CBD buyer data access
Tech company Fyllo, whoce Compliance Cloud offers a database of cannabis laws and regulations at various levels of government, is working with data enrichment solution provider Lotame to create direct access to cannabis and CBD audience data. The partnership will offer the data via the Lotame Data Exchange, providing mainstream marketers with previously hard-to-find CBD audience data for data enrichment, targeting and analytics.
"This is a great example of two innovative companies capturing and leveraging data to uncover key business opportunities, scalable audiences and insights that were not previously available," said Starcom Global Brand President John Sheehy.
According to MRI-Simmons, the CBD and cannabis consumer group continues to see strong growth. In 2019, the group saw a 38% year-over-year increase to account for 44 million American adults. Fyllo and Lotame said this offers an opportunity to recruit new customers and reinvigorate campaign strategies.
"Lotame's commitment to innovation makes them the perfect partner for Fyllo," said Chad Bronstein, Founder and CEO of Fyllo. "Together we are enabling new growth pathways for progressive brands, agencies and media companies."
Through LDX, traditional brands in categories like CPG, QSR, retail, beauty and spirits can activate Fyllo's endemic audience data to target known consumers or overlay Fyllo's "infused" taxonomy to enrich traditional segments like outdoor enthusiasts and yoga fanatics.
"Consumers are changing all the time, and more so than ever this year due to the global pandemic," said Jason Downie, Lotame chief revenue officer. "Empowering marketers to understand, find and engage their best customers — and next best customers — is core to our mission. Providing the patented technology to power these important connections make this partnership a natural fit."