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The Future of Personalization: How the Marketing Industry Can Be “Privacy-First” - CPO Magazine

Brands have shifted their focus to e-commerce — a trend that shows no sign of slowing down, making the need for better data about digital audiences even more urgent. Marketers are facing a real challenge. For many, zero party data (“ZPD”) is the favored solution.

Customers share ZPD with the full expectation that it will be used for their benefit. And because ZPD is explicit, marketers don’t have to guess the meaning of the data to put it to good use.

ZPD provides the individual-level insight required for brands to interact with customers in the deeply personalized manner they’ve come to expect without compromising their data privacy rights.
CYDigital/marteq.io's insight:

It's amazing what the consumer will deliver to you if you ask and provide a benefit for the share.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Why The Rise Of First-Party Data Could Be A Net Win For Brands And Retailers - Forbes

Why The Rise Of First-Party Data Could Be A Net Win For Brands And Retailers - Forbes | The Marteq Alert | Scoop.it

One of the bigger issues with cookies is their methods of targeting rarely work to build brand loyalty. As a customer, receiving irrelevant ads can be off-putting, particularly if the product, service, or brand was never interacted with in the first place. This blind “targeting” is especially egregious in an era where many brands are focusing on more intimate personalization efforts.

Moving forward, the brands and retailers that are most successful are going to need to move away from the generalities of third-party cookies and do the work to build a relationship with their customers, and a strong vehicle for that engagement is first-party and “smart audience” or “zero party” data.

Though there is a caveat: small and mid-size brands and retailers that have long-relied on cookies absent a more robust internal store of first-party data will still need to find some sort of alternative. Though there are increasing numbers of solutions on the market that are gearing up in the absence of cookies that rely on more anonymized and privacy-friendly ways of identifying users on the open web, brands looking to scale their first-party data efforts now are pushing up against a harsh time crunch.

Read the full article at: www.forbes.com

CYDigital/marteq.io's insight:

ZPD may be easier to collect than first party data, as you only need ask the consumer for their feedback in exchange for a reward.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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4 Guidelines to Set Up Your Rewards to Replace Cookies | CustomerThink

4 Guidelines to Set Up Your Rewards to Replace Cookies | CustomerThink | The Marteq Alert | Scoop.it
79% of consumers said they would prefer their brands to invest less in Facebook ads and more in their loyalty programs. Backing up that point: 45% said they made purchases via direct email offers in the previous year, beating out banner ads or social media ads.

Here are a few guidelines to navigate the countdown to the cookie fade and zero-party data’s rise.

Know the ingredients to get there. How long do they retain customer data? How is it stored and protected? How extensively can their analytics hyper-personalize the experiences? What tools do they use to collect self-reported data (such as web surveys) and how fast do they process the insights? What are their machine learning capabilities? 

Prove your worth in the value exchange. According to research highlighted in the webinar, 42% of consumers say they get irrelevant offers and 30% said they received “creepy” personalization based on information they did not share with brands. Zero-party data eliminates that frustration because it invests an individual’s data exclusively into experiences for that person. T

Avoid entanglements through all-party collaboration. Along the way to bringing members into the zero-party plan, organizations should use their insights to locate and simplify overly complex areas in the data pipeline. 

Make loyalty a company-wide endeavor. Once the tools and guidelines are simplified and formalized, the organization can embed its one-to-one-focused loyalty initiative into its broader customer-engagement platform. 
CYDigital/marteq.io's insight:

If you have a rewards/loyalty program, you can install a zero party data program and benefit from doubling your conversions.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Ecommerce Confidential: What Shoppers Want, And In What Channels - MediaPost

Ecommerce Confidential: What Shoppers Want, And In What Channels - MediaPost | The Marteq Alert | Scoop.it
Ecommerce brands have a time-honored tool for engaging consumers: email, judging by Ecommerce Consumer Behavior Report, a study from nine Shopify sponsors with contributions from ShopifyPlus. The question is: Are they using it based on zero-party data based on behavior? 

Email is actually “liked” by 53% of consumers. Another 29% are neutral, and 18% dislike it. 

And shoppers do want personalized communications: an impressive 71% will share personal information about their likes, preferences, needs, etc. to get recommendations that meet their needs, and 26% are very likely to do so.
CYDigital/marteq.io's insight:

We see this over and over again: at least 70% (and as high as 85%) of consumers are willing to share personal information if there is an upside (and if their data is protected). So if you believe zero party data won't work because consumer are unwilling to give up their data in exchange for rewards, you're dead wrong. The studies prove it, ZPD firms prove it daily, and passive metering firms prove it constantly.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Zero-party data: the answer to the death of cookies | Ad Age

Zero-party data: the answer to the death of cookies | Ad Age | The Marteq Alert | Scoop.it
Consumers have made it clear that cookie-based advertising and the practice of advertisers following them from website to website is not desired. The 2021 Consumer Trends Index report polled 5,000 global consumers and, while 73% said that personalized offers based on past purchases were “cool,” 66% said ads based on cookies and tracked behavior were “creepy.” Brands that are searching for a cookie replacement or new ad tech that will facilitate the practice of inferring intent from browser history are not paying attention to reality. 

If marketers take “the marketer” out of their own head for a moment, it’s easy to understand why consumers aren’t looking for a better ad, but rather want a better experience. It’s just human nature. For example, if you met someone for the first time on the street today (yay vaccines!) the conversation is most likely going to involve a string of questions and answers between those individuals. One person might even ask, “Hey, do you like spaghetti?” If the answer is, “Yes, I do,” then the questioner may recommend a local Italian restaurant. 

The death of cookie tracking could be one of the biggest influences on how to reboot the brand-consumer relationship and establish a path to personalization at scale. The information gained from these conversations is called zero-party data—that is, data shared explicitly with the brand directly from the consumer. 
CYDigital/marteq.io's insight:

The need for greater for a deeper relationship drives the desire for zero party data, not the loss of third party cookies. A cookieless future is the kick in the ass we all needed.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Tech Giants are rebuilding the way businesses leverage data

Tech Giants are rebuilding the way businesses leverage data | The Marteq Alert | Scoop.it

Companies are now adopting zero-party data collection to strengthen customer trust. Zero-party data is information that customers are willing to share with trusted companies or brands. Information includes everything from preferences, feedback and profile information to interests, consents and purchase intents.

This is a step in the right direction to give consumers better control over their data. Some of the benefits of using zero-party data include:

-It is the uniqueness of a brand or company that no other brand has the same data.
-Being the ultimate source of truth in that consumers provide their own insights rather than making assumptions based on big data.
-It is relationship-based and relies on a higher level of trust with consumers. That is, brands need to be transparent about their use of data, and relationships need to be mutually beneficial.

 

The key to all of this is that companies in every industry, regardless of size or location, need to change the way they interact with and interact with their customers. We need the trust of both our current and prospective customers. That way, the customer wants to share zero-party data with the brand.

CYDigital/marteq.io's insight:

Trust and transparency: a huge benefit for the brand.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Data Privacy Compliance Doesn’t Mean Lack of Personalization - My Total Retail

Data Privacy Compliance Doesn’t Mean Lack of Personalization - My Total Retail | The Marteq Alert | Scoop.it
The pandemic drove retailers to increasingly shift their focus to e-commerce. This made the need to gather better audience data and provide personalized customer experiences even more critical for survival. For brands such as Moët Hennessy and Church and Dwight, zero-party data (ZPD) has been an ideal tool to navigate these hurdles.

Diagnostic quizzes were designed to help customers find and ultimately purchase the skincare products best suited to their personal needs. When engaging with a diagnostic quiz, consumers proactively share their personal context (e.g., facial skin type, primary facial skin concern, other characteristics) so that the brand can recommend a specific routine involving multiple products to address each concern. The quizzes are very inviting and visual, and the products that make up the recommendations are shoppable at the conclusion of the quiz.

As a result of implementing these quizzes built on ZPD, the brand saw impressive results: a 21 percent increase in conversion rate and a 134 percent increase in average order value.
CYDigital/marteq.io's insight:

Huge increases in conversions from ZPD.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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The Death of Third-Party Cookies: What It Means for B2B Brands - Zen Media

The Death of Third-Party Cookies: What It Means for B2B Brands - Zen Media | The Marteq Alert | Scoop.it

As we move into a cookie-less future, zero-party data is going to be where most brands need to  dramatically increase their focus. 

Zero-party data is similar to first-party data, in that it’s collected, controlled, and owned by your brand. However, zero-party is even more valuable and accurate than first-party data because it is data that the customer intentionally, proactively shares with your brand. 

You should already be collecting zero-party data, but if you aren’t, that needs to be one of your first priorities.  Ways to collect zero-party data include: 

-Gated content that requires a name, email address, and/or additional personal information to access
-Lead gen forms on social sites like LinkedIn and Facebook, as well as your own website
-Adding custom questions to forms for users to answer
-Branded mobile apps that request user information 
-Microexperiences, or small, mobile-friendly digital experiences that are available on your website and request three to four pieces of information from the consumer

CYDigital/marteq.io's insight:

Collection of B2B ZPD is a bit trickier as it almost completely relies on Q&A data. It's more difficult to collect behavioral data from B2B targets due to the IT restrictions on the B2B devices.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Four Steps To Prepare Your Marketing Practice For Data Deprecation - Forbes

Four Steps To Prepare Your Marketing Practice For Data Deprecation - Forbes | The Marteq Alert | Scoop.it

Forrester recommends marketers take four immediate actions to prepare their data-driven marketing practice: 

  1. Evaluate your data collection and usage practices. 
  2. Collect zero- and first-party data. Brands should prioritize their owned data assets and direct relationships with consumers. Forrester recommends collecting first-party transactional data as well as zero-party data — information that consumers volunteer about their preferences and interests, usually in exchange for a benefit or perk. Brands can use this data instead of trying to infer things like behaviors, context and intent through sketchy tracking mechanisms. 
  3. Invest in privacy standards across your marketing efforts. 
  4. Test new marketing approaches. 
CYDigital/marteq.io's insight:

Forrester continues to bang on zero party data, and for good reason: it's the most effective data source available to marketers.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Single-source panel measurement is key to optimizing social media planning - DigiDay

Single-source panel measurement is key to optimizing social media planning - DigiDay | The Marteq Alert | Scoop.it
Using a smaller sample of 8,469 adults’ patterns over three social platforms, DISQO found that for typical campaigns with at least weekly optimizations over a month or more, the overlap among platforms negatively impacted the fidelity of weekly optimization on a given platform.

DISQO used the term “mutant data,” referring to audiences who are “unexposed” to brand messaging on one platform, but have likely seen it on another. Not separating them out creates an artificially high baseline off which to calculate lift, which in turn leads to higher costs and missed revenue opportunity.

Using zero-party data (when a customer intentionally shares his/her data with a company) in single-source form also negates the ongoing issue of cookie and identifier deprecation, which is arguably the biggest mess plaguing media planning today.

Michael Hubbard, CEO of independent media agency Media Two Interactive, generally agrees with DISQO’s position. “If you’re unable to deduplicate those cookies across platforms, or have a full funnel attribution model in place, you’re essentially allowing every platform to accept credit for the sale, or brand awareness, or whatever KPI you were tracking,” he explained. “Your analytics/marketing dashboards will be showing 20 sales, but your cash register will only be showing the one actual sale.”
CYDigital/marteq.io's insight:

This has ALWAYS been an attribution issue, i.e., double-dipping. Behavioral data is really the only means by which to truly capture the customer journey and with it true attribution.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deeper consumer insight. https://www.marteq.io #martech #marketing

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How Personalized Data Plus Customer Privacy Can Boost Sales

How Personalized Data Plus Customer Privacy Can Boost Sales | The Marteq Alert | Scoop.it

Your customers expect not just a personalized experience, but also to have control over their own data. 

This is where privacy comes into play. New regulations about data privacy are providing a baseline for brands to abide by, but brands that truly want to excel need to exceed those basic expectations. 

Customer engagement platforms can be very helpful here, as they allow you to develop highly effective personalized marketing campaigns, while also protecting your zero-party data and giving your customers that peace of mind. 

Read the full article at: zenmedia.com

CYDigital/marteq.io's insight:

Consumer control over their data is paramount, as it is the key to data privacy across all borders.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Retailers need to respect consumer privacy or pay the price | The Drum

Retailers need to respect consumer privacy or pay the price | The Drum | The Marteq Alert | Scoop.it
The International Advertising Bureau (IAB) is telling marketers to build these relationships using a value exchange.

What’s a value exchange? Simply put, it’s offering consumers something in exchange for their data – data that you can then use to build out campaigns that appeal to that individual alone. This includes sharing special offers, personalized discounts, exclusive access, and more. It goes beyond simply gathering every data point – it’s intentional and done with respect and openness to the consumer about how and when their data will be used (this collected data is known as zero-party data).

The technology to do this is readily available, either through “experience” platforms that make it easy to collect, parse and integrate data into campaigns, or through a loyalty program that wraps up the data-gathering and rewarding engagement into one platform.
CYDigital/marteq.io's insight:

Or through passive metering solutions, where all behavioral data is collected. Or how about one platform for all, where Q&A data, behavioral data and rewards data are managed?

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Google Delays The Cookiepocalypse - Forbes

Google Delays The Cookiepocalypse - Forbes | The Marteq Alert | Scoop.it

Marketers should not take this announcement as a signal to ease up on their preparations for a future without third-party cookies. Google continues to evolve its plans, and this likely won’t be the last time the company does this. 

So, don’t let this distract you from the larger context of the moment: As an industry, we are transitioning away from opaque consumer data collection and usage and toward a choice-drive, transparent, and privacy-friendly future. Marketers must: 

-Continue to future-proof current targeting, digital media buying and measurement strategies. 
-Talk to your technology and services partners about how they are preparing for a data-deprecated future.
-Keep investing in your first- and zero-party data assets. 

CYDigital/marteq.io's insight:

See that last point? We're your definitive source. Contact us.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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Zero-party data: An optimal path to personalization - AdAge

Zero-party data: An optimal path to personalization - AdAge | The Marteq Alert | Scoop.it
  • Some 86.6% of respondents indicate that they’re investigating reducing their reliance on cookies and third party data, or have already reduced that reliance for advertising and marketing purposes.
  • Fully 92.5% of respondents moderately or very much agree that one-to-one personalization will be important, and 48.3% indicate it’s extremely important.
  • While fewer than one-in-four (23.8%) respondents report currently using these advanced personalization methods, half (50.1%) say they plan to do so in the next 12 months.
  • A stunning 78.7% say that since cookies have been fairly effective or very effective personalization tactics in the past, they see no reason to discontinue their use. 
  • When asked about personalizing content, offers or ads across channels, only 23.8% of respondents indicate that they are currently using or plan to deploy such personalization during the next 12 months. Worse, 68.5% say they only customize to segments or groups of customers, and very few plan to rectify this in the near future.
  • While zero-party data has been discussed for a few years, some 80% of marketers and agencies have not used or considered using this rapidly maturing personalization technique, even with an obvious and growing need to adopt a new approach to marketing.
CYDigital/marteq.io's insight:

ZPD is far more than personalization: it is the basis for everything a marketer needs to understand their audience and react accordingly. EVERYTHING!

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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How Zero-Party Data Will Save the Internet In 2021? - AIThority

How Zero-Party Data Will Save the Internet In 2021? - AIThority | The Marteq Alert | Scoop.it
Zero-party data is the best customer data to have. As suggested by the name, it is unmediated data – given explicitly and willingly by the user. Among the wide choice of existing and emerging identity solutions to replace third-party cookies, zero-party data is at the top of the pile. It’s the best because it’s wholly transparent, controlled directly and intentionally by the user.

So if zero-party data is so great – how do you get in on the action?

Simple: you ask for it. Preference centers, questionnaires and polls can be used to capture valuable insights direct from your users. 

Whether you’re a brand, publisher or retailer, responsibly used zero-party data enables you to build direct relationships with audiences based on trust. 
CYDigital/marteq.io's insight:

There's more than asking for it. Through passive metering, you can gather behavioral data as well. Combine the two? You've got the most powerful solution available today.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

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20 Martech Leaders on What they Think About Google's Decision to Continue Cookie Tracking - AIThority

20 Martech Leaders on What they Think About Google's Decision to Continue Cookie Tracking - AIThority | The Marteq Alert | Scoop.it
Moving away from third party cookies and toward first-party data puts consumers in control of how their data is used while companies can deliver real-time experiences that are most relevant to consumers.

Brands should use this time to double-down on a first party data strategy if they didn’t already have one. This includes making sure that they have data and tools to ease integrations and data partnerships while looking at easy-to-use IP addresses and fingerprinting as components of their id graph. 

We should not be deterred from moving beyond the third-party cookie as the main identifier for internet users. It is not a good vehicle for communicating with consumers, explaining the quid pro quo of data for content, facilitating that equitable exchange through collecting, storing and communicating informed consent through the value chain, and doing all of that with the user — not the device she is using right now — at the center.

The elephant in the room is that 40% of internet users are not identifiable via cookies today. 

Google may be giving marketers more time, but consumers aren’t waiting — they want transparency and value in use of their data now. Cookies remain an imperfect measurement tool, and marketers should seek zero-party data sources to get a fully-permissioned and complete view of their consumers’ journeys. 
CYDigital/marteq.io's insight:

Using zero party data WILL DOUBLE YOUR CONVERSION RATES. That's a fact.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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Saying Goodbye To Cookies

Saying Goodbye To Cookies | The Marteq Alert | Scoop.it
There are better ways to approach developing relationships with  consumers. Ideally, if a customer has bought something from you in the past and shared their preferences, this provides an opportunity to deepen the relationship by taking that first-party and zero-party data (the things a customer has told you) and personalize your marketing content around that. Example: If a traveler has been to the Caribbean, Expedia can use that knowledge to market similar destinations rather than simply guessing.

There is a fine balance between privacy and personalization. A big part of third-party cookie data has been customer acquisition. However, that data did not make it easy to personalize because not enough was known about any individual. It’s far better to have earned an email address via a purchase or opt-in.

In fact, the emphasis for the last few years has been on earning relationships -- and if anything, this cookie transition has put the spotlight on marketing based on a relationship rather than on learning things about consumers gained without their consent.
CYDigital/marteq.io's insight:

Throw out the cookies: old 's stale.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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Google gives third-party cookies a stay of execution - TechTarget

Call it the "cookie apocalypse," "the Cookiepocalypse" or the completely uninspired "Google Chrome's deprecation of third-party browser cookies." Whichever you choose, it won't happen until late 2023, if ever.

That was the word last week as Google quietly announced the delay, which affects a wide swath of digital advertising from ad-sales marketplaces to data management platform vendors and data brokers.


 

 

In its blog post, Google left the door open for keeping third-party cookies beyond 2023, as Google and the ad industry work together to make FLoC and other tools satisfy privacy needs for consumers in the open source Chromium Privacy Sandbox project.

Moffett and her Forrester colleagues advise clients to assume third-party cookies are still going to go away. They should move forward with plans to acquire and more effectively use their own first-party data from customers as well as "zero-party data" that customers offer unsolicited -- not derived from browsing or other behaviors.

CYDigital/marteq.io's insight:

It's going away, and marketers need to shift to ZPD.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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Why increasing loyalty 5% increases profits 25-95% | Fast Casual

Why increasing loyalty 5% increases profits 25-95% | Fast Casual | The Marteq Alert | Scoop.it

Zero-party data is data a consumer proactively shares with a brand and may lend insights into preferences, purchase intentions, personal context, and the ways the individual wants the brand to recognize them. This is because consumers have become more willing to exchange their data for personalized offers and a more authentic engagement with brands they love. Customers want engagement, and they want to feel like they are getting value from the program. 

  • In fact,79% of consumers would rather brands invest in loyalty programs than social media advertising. 
  • According to research by marketing firm Kantar Worldpanel, nearly half (47%) of U.S. consumers have used some sort of loyalty program. And while these numbers may seem small, they represent an important shift from just a few years ago when less than one quarter (24%) had ever heard about such programs. Today, nearly two-thirds (65%) say they've tried at least once or twice to earn points with a loyalty program. 
  • 79% of customers will only consider shopping with brands that show they understand and care about them."
  • About 50% of consumers say their primary reason for joining a loyalty program is to earn rewards on everyday purchases. 
  • The average consumer belongs to 14.8 loyalty programs but is only active in 6.7 of them.
  • Increasing your loyalty following just 5%increases profits by 25% to 95%. 
CYDigital/marteq.io's insight:

ZPD and Loyalty Programs compliment each other, as the rewards schema powers the ZPD effort.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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Zero-Party Data: What It Is, and How It Can Benefit Your Business? - AIThority

Zero-Party Data: What It Is, and How It Can Benefit Your Business? - AIThority | The Marteq Alert | Scoop.it

Recently, more and more B2B marketers and industry experts have revealed that ZPD is a significant area that’ll likely push personalized efforts ahead as well as marketing campaigns in the years to come. Regarding the specific uses of zero-party data, it can be applied to personalizing and customizing content, delivering tailored product recommendations, and tailoring other parts of digital experiences to align with customers’ preferences.

Furthermore, B2B brands put zero-party data to use by sharing information with individuals like concisely targeted surveys or polls that contain enlightening and thought-provoking questions. If used strategically, ZPD can significantly improve how brands communicate with their customers and prospects. Not only can zero-party data provide valuable insights, but it can also enhance the efficacy of a brand’s personalization efforts.

Read the full article at: aithority.com

CYDigital/marteq.io's insight:

A few benefits/use cases, but there's far more.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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First-Party Data Is About Building Trust...Not Control

First-Party Data Is About Building Trust...Not Control | The Marteq Alert | Scoop.it
Replacing the role played by third-party cookies in the marketing ecosystem is a mighty challenge. Because cookies are an ad tech solution, perhaps it is natural that our first-inclination as an industry is to look for other tech solutions. However, we need a bigger reset, one focused on creating trust with the consumer.

Here’s the truth: some people value privacy above all and don’t want to share information with the brands in their lives, nor the intermediaries whom they don’t know. As an industry, we need to be okay with that.

But there are people who are willing to share. You can find them engaged with brands that offer a distinct value proposition in exchange for information — or in audience panel communities where they are rewarded for sharing. The key ingredients in both instances are value, trust and permission. Regardless of category, all brands should embrace this new recipe for success.

Today, modern audience panels can pair opinion and behavioral insights -- a combination that will prove more effective at understanding the consumer journey than third-party cookies ever were. When consumers have trust and share information willingly -- also called zero-party data -- it improves the quality of the insights you cultivate.
CYDigital/marteq.io's insight:

ZPD via surveys and passive metering, combined with your loyalty program, is the most impactful means available to communicate directly with your consumers.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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Loyalty: Why pizza patrons want it, plus what they want in it | Pizza Marketplace

Loyalty: Why pizza patrons want it, plus what they want in it | Pizza Marketplace | The Marteq Alert | Scoop.it


The presence of a loyalty program is becoming "the price for entry" into any restaurant brand's game. Pizza customers, in fact, expect their favorite brand to have this positive reinforcement tool on board, but not just any rewards program will do.

Read the full article at: www.pizzamarketplace.com

CYDigital/marteq.io's insight:

Yes, even pizzerias. ZPD is the natural outgrowth from loyalty programs.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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Why Retailers Need a ‘Data Diet’ - My Total Retail

Why Retailers Need a ‘Data Diet’ - My Total Retail | The Marteq Alert | Scoop.it
Which customer data is now most relevant?
The biggest shift we see is toward behavioral data that gives retailers contextual clues about a customer’s visit as they enter and browse a store. This includes:

First-party data: First-party cookies collected on retailers’ own websites are here to stay. In the possible absence of third-party data, we expect retailers to make larger investments in first-party data to improve site conversion and retention metrics.
Zero-party data: This is explicit data customers share with retailers through surveys, quizzes, membership registration forms, etc. We’re personally big fans of questionnaires that ask consumers about their shopping preferences. Retailers can use their answers to create a guided shopping experience personalized to each consumer’s needs.
Second-party data: This is data collected and owned directly by merchants and shared with other merchants. We expect to see an expansion of data cooperatives to help retailers make wise use of second-party data.
CYDigital/marteq.io's insight:

ZPD is collected through a variety of means, including passive metering which may be the most effective data gathering tools.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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What's the Difference Between Zero Party Data and Earned Data - 3radical

Much like zero-party data, Earned Data is built on a value-exchange directly between the consumer and brand. However, zero party data is typically discrete data captured from a finite and brief interaction. On the flip-side, Earned Data is a fuller and richer dataset intentionally designed to build progressive relationships grounded in willful sharing of personal information not gleaned from clicks but rather from from direct dialogue and trust built over time. Furthermore, Earned Data is rooted in fully-conscious customer choice. It is data provided on the consumer’s terms and earned by the brands they choose to share it with.


Earned Data encourages a two-way conversation which always leads to a better experience for the consumer. The purpose of every interaction and every piece of data collected is to build a tailored audience journey, adapting as they engage. Consider it a ‘Choose Your Own Adventure,’ giving the consumer control over their engagement. As a result, an Earned Data strategy will outlive and outperform zeroparty data by continuing to build upon and maintain a meaningful conversation with your consumer.

 

Read the full article at: 3radical.com

CYDigital/marteq.io's insight:

It's a false dilemma. You can have both, and benefit from cross-tabbing the data.It's a false dilemma. You can have both, and benefit from cross-tabbing the data.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

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Google eyes privacy-friendly substitute to cookies - Axios

Google eyes privacy-friendly substitute to cookies - Axios | The Marteq Alert | Scoop.it

Google on Monday said new test results show promising signs that the technology it's hoping will replace cookie-based ad targeting is working.

Why it matters: Google and web browser rivals Apple and Mozilla have all introduced sweeping privacy changes recently that will collectively phase out cookies, an internet tracking tool that tracks users' web browsing history.

Catch up quick: Cookies are considered third-party data, or user data that's collected indirectly from users via browsers or websites. Third-party data is often bought and sold at scale via online data exchanges.

For decades, cookies have been the primary way most advertisers target users online, but privacy concerns are making it less viable going forward.


Finding a replacement for cookies is a massive challenge, given that the entire digital ad ecosystem, worth $330 billion USD globally, has been mostly built around cookies.

CYDigital/marteq.io's insight:

Wolf in sheep's clothing, trying to maintain the "walled garden."

 

Collect zero party data from your consumers NOW through marteq.io's FREE pilot program. Contact joe@marteq.io to qualify. #martech #marketing

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