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RIP third-party cookies: Are marketers ready? | Ad Age

RIP third-party cookies: Are marketers ready? | Ad Age | The Marteq Alert | Scoop.it
To explore the marketer’s mindset relative to third-party cookie deprecation, Epsilon commissioned a third-party research study with Phronesis Partners Inc.:

1. Most marketers are very or moderately reliant on third-party cookies.
 
2. Less than half of marketers feel “very prepared” for the change.
 
3. Actual benefits to consumers are in question.
 
4. 70% of marketers believe digital advertising will take a step backward.
CYDigital/marteq.io's insight:

You can access the study here: https://us.epsilon.com/resources/marketer-playbook-how-to-succeed-without-third-party-cookies

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Modern Loyalty Programs: The Essential Guide to Succeed in Today's Loyalty Landscape - The Wise Marketer

Modern Loyalty Programs: The Essential Guide to Succeed in Today's Loyalty Landscape - The Wise Marketer | The Marteq Alert | Scoop.it
What are the key tenets of a modern loyalty program? It’s a constantly shifting definition, but the best programs share many core elements. The masterminds of modern loyalty programs are constantly on the lookout for the next big thing. When convenience, price, and quality are not enough of a differentiator, what else can be? There are several significant shifts in the loyalty landscape happening right now that brands looking to evolve their loyalty programs should be on top of.


Firstly a shift in data types to zero-party data use only and an increase in respectfully and conscientiously gathering customer data; Secondly a shift from transactional only programs to those that encourage emotional connections as well. Consumers have, literally, a world of purchasing opportunity open to them and organisations cannot rely solely on transactions. Develop true affinity by looking at what your brand does best, what aligns with your brand values, to come up with creative ways to reward members beyond just dollars spent. A shift to new and multiple types of currencies. Lastly, a shift to doing something daring helps your program to stand out to the consumer, and connects with them in a way others can’t. 
CYDigital/marteq.io's insight:

Note the #1 driver: the collection of zero party data. Loyalty programs can act as the digital reward system to incent consumers to share their data with you.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Gartner: How to build a best-in-class marketing analytics strategy - CMO Australia

Gartner: How to build a best-in-class marketing analytics strategy - CMO Australia | The Marteq Alert | Scoop.it
According to Gartner research, 86 per cent of marketing leaders want to increase their marketing analytics maturity, yet only 7 per cent say they’re operating at master level. What’s more, despite growing investment into marketing analytics as a capability, only 37.7 per cent of CMOs surveyed by Gartner are using available or requested marketing analytics before a project decision is being made. It’s a figure that’s only nominally increased in the last eight years.

Yet harnessing marketing analytics pays commercially, Gartner senior director and analyst, Jason McNellis said. Gartner figures show having one or two types of marketing decisions significantly influenced by analytics results in 40 per cent financial overperformance, while three or more marketing decisions influenced by analytics results in a 50 per cent financial overperformance.
CYDigital/marteq.io's insight:

Some recommendations when you click through. But note that earlier research identifies analytics as one of the areas under the budget axe due to lack of ROI.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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HubSpot Releases 2020 Remote Work Report - HubSpot

HubSpot Releases 2020 Remote Work Report - HubSpot | The Marteq Alert | Scoop.it
HubSpot’s 2020 Remote Work Report surveyed thousands of full-time remote workers in the U.S., UK, Ireland, Australia and Germany to gain insights on collaboration, career growth, inclusion, and work-life balance when working remotely.
CYDigital/marteq.io's insight:

Completely and utterly unrelated to the objective of this blog, but it was too valuable to pass up from passing on to you.

 

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Can the publishing industry’s future grow with first-party data? - AdNews

Can the publishing industry’s future grow with first-party data? - AdNews | The Marteq Alert | Scoop.it
Many publishers have an audience strategy but continue to rely heavily on third-party cookies, which will continue to be disrupted by external forces, such as Intelligent Tracking Prevention (ITP), browser privacy updates and new privacy regulations (e.g. GDPR or CCPA). As third-party cookies disappear from the digital ecosystem, publishers need robust first-party data strategies to maintain a competitive market position. There is a clear necessity for attention to be shifted towards a first-party data strategy. Coupled with this shift, is the requirement for publishers to adopt a strategy focused on growing its first-party cookie loyalty base by adapting content strategies to suit the need of a “brand lover” rather than a casual reader (meaning reducing reliance on common industry metrics like monthly active users). This control over data allows for a reorientation and alignment in business strategy and cross functionality of teams.

CYDigital/marteq.io's insight:

We've considered marketing our Marteq platform (that delivers extended zero party data to marketers) to the publisher marketplace, but that would negate the opportunity for marketers to build that deeper level of engagement with their consumers.

 

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Data and the trust barometer - the new frontline of retail - Lexology

Data and the trust barometer - the new frontline of retail - Lexology | The Marteq Alert | Scoop.it
Consumers are deeply concerned by data use and abuse. Protecting data is the new front line of retail. Brands that fail to inspire trust are being abandoned.

A worldwide survey found a third have already switched brands for data privacy reasons. Deloitte found 98 per cent of UK consumers are “concerned” by the way online brands use personal data. A further 85 per cent will avoid a brand if their data is not secure.

The good news is that brands who build trust with consumers will prosper. They'll build loyalty, and enjoy access to the data they require to develop products and market effectively. Olly Bray, Senior Partner at law firm RPC and noted tech commentator, puts it like this: “The only way brands will be able to meaningfully interact with consumers in the future is by building trust through transparency, human-centred design and ethical data use. We are working with our clients so they can take the lead on the issue. Crack this and your customers should be with you for life. Ignore it and they'll leave you for dust.”
CYDigital/marteq.io's insight:

If you wondered what the benefits could be when building trust and transparency, consider loyalty and the ability to shape product and offerings effectively.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Brands To Watch In 2021 - Forbes

Brands To Watch In 2021 - Forbes | The Marteq Alert | Scoop.it
Privacy is the yang to online’s yin – they are two forces that seem to oppose but actually can and should complement each other. Privacy isn’t a brand but it will have a big impact on them next year. Privacy concerns and regulatory and legal activity will increase since the newly created California Privacy Rights Act (CPRA) expands further the state’s landmark consumer privacy law, the California Consumer Privacy Act (CCPA), and is likely to be widely observed across the U.S. What’s more, Apple now requires all third-party developers to detail their app’s privacy information — and will deprecate from its devices the Identifier for Advertisers (IDFA) early next year, which means advertisers will no longer be able to identify, tailor messaging, and measure user-level behavior within iOS apps.  As a result, brands will rely less on third-party and passively-collected customer data and pursue more “zero-party data,” which customers intentionally and proactively share with them. If done well, brands can use this trend to build trust and greater connection with customers – but that’s a big if.
CYDigital/marteq.io's insight:

As a brand, you must phase out the passive and surreptitious collection of consumer data, and give it up to the consumer. Only then can you build trust and transparency, and when you do, the benefits will be enormous. 

 

That's what we do: we enable your consumers to own their data, and in the process, bridge you with the consumer around a permission based model of data sharing in exchange for digital rewards.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Salesforce agrees to buy software maker Slack for $27.7 billion | Ad Age

Salesforce agrees to buy software maker Slack for $27.7 billion | Ad Age | The Marteq Alert | Scoop.it
Price is a 55% premium on Slack’s stock before talks reported.
CYDigital/marteq.io's insight:

In case you didn't see this from yesterday afternoon. Oh all that data!

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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What Business Leaders Should Know About Cryptocurrency

What Business Leaders Should Know About Cryptocurrency | The Marteq Alert | Scoop.it
Jeff John Roberts, an author and journalist, dug deep into the world of cryptocurrency to figure out what the rest of us really need to know about it. He acknowledges that the proliferation and volatility of digital currencies can make them seem like a fad but argues that the oldest among them — bitcoin — and the blockchain technology behind it are here to stay because they offer a more efficient way for companies and consumers to transact.  He describes in plain English how crypto works and explains why now is the time for forward-thinking business leaders to understand — and adapt to — this new kind of currency.
CYDigital/marteq.io's insight:

27 minute podcast. Get it on your playlist.

 

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Delivering digital ROI - how to measure your success - ClickZ

Delivering digital ROI - how to measure your success - ClickZ | The Marteq Alert | Scoop.it
  • Budgets are under even more pressure than usual so it’s important to target tech investment where it will quickly achieve bottom-line impact and ROI.
  • 98% of consumers leave websites without converting – addressing this dire statistic is key to digital success.
  • Personalization and experimentation will help and models such as Forrester Consulting’s Total Economic Impact (TEI) will identify the costs, benefits, and risk factors to ensure the outlay is worth it. This uses a rigorous framework to identify the costs, benefits, and risk factors around a technology investment. It places equal weight on total costs and total returns it allows you to carry out a full examination of the effect of the technology on the entire organization.
CYDigital/marteq.io's insight:

I recommended this during the first wave of COVID-19 earlier this year, and I'm continuing to recommend it during this second wave: re-examine your technology, pare down where necessary, and re-configure so as to deepen your engagement with your current consumers/customers.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Comparing 4 decentralized data storage offerings - TechTarget

Comparing 4 decentralized data storage offerings - TechTarget | The Marteq Alert | Scoop.it
In this breakdown of four popular decentralized data storage options, we cover how each offering is priced, how it works and whether or not it uses blockchain.
CYDigital/marteq.io's insight:

An excellent primer on the topic, covering the 4 major vendors in the space.

 

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State of Martech Report - Clevertouch

  • 73.5% of organisations plan to maintain or increase marketing spend in 2021.
  • 68.5% of marketers expect to have fewer resources available to them in 2021, and will need to produce the same or better results.
  • 47.5% of marketers are aware of data compliance but don’t factor it into their marketing strategy or planning.
  • Nearly 50% of marketers believe their biggest challenge with data management is poor quality data or data stored in siloes.
CYDigital/marteq.io's insight:

It's a mix between US, UK and EMEA marketer respondents, which I suppose accounts for the disparity between this report (click through to the reg form) and Gartner forecasts regarding 2021 budgeting. 

 

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Facebook’s libra currency to launch next year in limited format - Ars Technica

Facebook’s libra currency to launch next year in limited format - Ars Technica | The Marteq Alert | Scoop.it
The long-awaited Facebook-led digital currency libra is preparing to launch as early as January, according to three people involved in the initiative, but in an even more limited format than its already downgraded vision.

The 27-strong Libra Association said in April that it had planned to launch digital versions of several currencies, plus a “digital composite” of all of its coins. This followed concerns from regulators over its initial plan to create one synthetic coin backed by a basket of currencies. However, the association would now initially just launch a single coin backed one-for-one by the dollar, one of the people said. The other currencies and the composite would be rolled out at a later point, the person added.
CYDigital/marteq.io's insight:

It's a trojan horse. And the recent PayPal announcement is far more impactful.

 

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How Privacy Professionals Can Comply with Cookie Consent? - CPO Magazine

How Privacy Professionals Can Comply with Cookie Consent? - CPO Magazine | The Marteq Alert | Scoop.it

Privacy professionals need to make sure that their cookie notice includes the following in order to stay compliant with privacy regulations:

 

  • Explain the purpose of the installation of cookies that the site uses, briefly
  • State action which will signify consent
  • Be sufficiently conspicuous
  • Notify consumers on cookie purpose, usage, and related third-party activity.

 

First-party cookies are essential for every website as they allow businesses to remember key pieces of information about users and to collect analytical data. Third-party cookies allow publishers to monetize their websites, and brands to run advertising and marketing campaigns, making it essential for Adtech organizations. In order to make this process of consent collection smooth, organizations need to integrate a consent management platform.

Consent management is a process which allows websites to meet global regulatory requirements regarding consent collection. With a consent management platform (CMP) in place, websites can harness the technical capability to inform visitors about the types of data they’ll collect and ask for their consent for specific data-processing purposes.

CYDigital/marteq.io's insight:

Although GDPR-specific, the need for a CMP is critically important regardless of country.

 

The Marteq application includes a CMP as a core part of its offering: without it, permissions could not be managed or maintained.

 

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Brands Will Waste 99.9% Of Banner Advertising Spend This Year - IT News Online

  • Brands will spend $329 billion of their $700 billion global advertising spend on digital advertising this year, a number which is set to increase to $390 billion by 2022 when the global advertising spend is expected to rise at $749.8 billion
  • Up to 74% of this budget will be shared across just seven companies, with Facebook and Google claiming the lion share, despite advertisers becoming increasingly disillusioned with these advertising giants due to concerns regarding ad fraud, issues around data privacy, brand safety and hate speech
  • Despite brands spending half their digital media budgets on Facebook, only 11% and 10% of consumers want brand communication via Facebook or Facebook Messenger respectively
CYDigital/marteq.io's insight:

The headline prompts ingesting a huge boulder of salt, but the aforementioned data is revealing.

 

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Top Biden Tech Advisor Is Critic of Internet Firms; Helped Craft California Privacy Law - Insurance Journal

Top Biden Tech Advisor Is Critic of Internet Firms; Helped Craft California Privacy Law - Insurance Journal | The Marteq Alert | Scoop.it
President-elect Joe Biden’s top technology adviser helped craft California’s landmark online privacy law and recently condemned a controversial federal statute that protects internet companies from liability, indicators of how the Biden administration may come down on two key tech policy issues.

Bruce Reed, a former Biden chief of staff who is expected to take a major role in the new administration, helped negotiate with the tech industry and legislators on behalf of backers of a ballot initiative that led to the 2018 California Consumer Privacy Act. Privacy advocates see that law as a possible model for a national law.

Reed also co-authored a chapter in a book published last month denouncing the federal law known as Section 230, which makes it impossible to sue internet companies over the content of user postings. Both Republicans and Democrats have called for reforming or abolishing 230, which critics say has allowed abuse to flourish on social media.
CYDigital/marteq.io's insight:

Well, if you're reading tea leaves, then look at these tea leaves. A CCPA on the federal level? Regardless, Reed's philosophy runs counter to the bill being discussed in the Senate, sponsored by four R's.

 

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Filecoin explained: Decentralizing cloud storage for Web 3.0 - Forkast

Filecoin explained: Decentralizing cloud storage for Web 3.0 - Forkast | The Marteq Alert | Scoop.it

"Filecoin is the economic incentive layer to the peer-to-peer decentralized network for sharing and storing of data, Interplanetary File System (IPFS).  In October 2020, the network launched its mainnet. Less than a month later, Filecoin’s total network storage power has surpassed 1 EiB (exbibyte), or over 1.1 million TB (terabyte).

 

As a peer-to-peer network, Filecoin connects two main players: the users and storage providers. Unlike a traditional blockchain protocol, miners in the Filecoin network aren’t rewarded FIL for verifying a block’s proof of work. Instead, miners in the Filecoin network have computers with internet connections and available storage for clients to hire. Storage providers are the miners, and are rewarded with FIL for contributing storage to the network.  The users, on the other hand, are the customers, or individuals in the market that are looking to hire storage from the storage providers that have implemented the Filecoin protocol. 

 

An agreement between a user and a storage provider is called deals. In the Filecoin network, there are two notable types of deals, storage and retrieval deals. As the names suggest, a storage deal occurs when a miner has received data from the client to store, while retrieval deals occur when miners withdraw data from the network."
CYDigital/marteq.io's insight:

Great primer that provides an excellent overview. Strongly recommended. And its blockchain, so there's the highest form of security.

 

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Are you truly prepared for the cookie-less world? - Marketing Interactive

Are you truly prepared for the cookie-less world? - Marketing Interactive | The Marteq Alert | Scoop.it
Nielsen unveiled its ID resolution system last week that will support cross-media measurement, including digital, in a cookie-less world. This comes ten months after Google first announced that it will phase out third-party cookies by 2022. According to Nielsen, its ID resolution system comprises ecosystem connectivity, machine learning models and Nielsen ID. Additionally, it will also work with The Trade Desk and the industry on Unified ID 2.0, an open and interoperable ID built on hashed and encrypted email addresses.

This move is in a bid to reconcile various first party IDs and replace third party cookies across the digital ecosystem. Besides Nielsen, Unified ID 2.0 has also received support from other adtech firms in the industry including PubMatic, Magnite, Criteo and LiveRamp. Unified ID 2.0 was created by The Trade Desk to help companies prepare for a cookie-less world. The Trade Desk said that the latest ID framework will be built from hashed and encrypted email addresses, while remaining open and ubiquitious, and at the same time ensuring consumer privacy and transparency.

Given that Safari and Firefox both announced that they are removing third-party tracking cookies in 2017 and 2018 respectively, Google's move might not be a new one. However, it is safe to say that Google's announcement rang alarm bells because more than 60% of users are on Chrome. According to web traffic analysis company Statcounter, Google Chrome's market share stands at 64%. 
CYDigital/marteq.io's insight:

Going from one walled garden to another. There's a better approach: engage with your consumers and enable them to own their own data, and exchange access for a digital reward. Transparent, and it builds trust.

 

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CPG marketers roll the dice on new experiments amid data upheaval - MarketingDive

CPG marketers roll the dice on new experiments amid data upheaval - MarketingDive | The Marteq Alert | Scoop.it
According to Josh Blacksmith, Kimberly-Clark's senior director of global consumer relationships and engagement: "If you earn a consumer's trust, you earn the right to actually be seen in an inbox as opposed to being one of a million messages to just get excused as spam. The first place is definitely getting our first-party data house in order." 

Speaking at Advertising Week in October, Blacksmith detailed how Kimberly-Clark is expanding its approach to promotions past traditional economic incentives, such as coupons, to spotlight deeper brand values like utility, community and exclusivity. To make those connections with consumers, the marketer is striving to lessen its dependence on paid media to drive engagement, while leveraging more owned and shared media experiences to accomplish those goals.

Just as a chapter closes on third-party data, other tactics could see opportunities start to emerge. An important factor for marketers in the CPG space and elsewhere is to not wait for a single, comprehensive replacement to something as ubiquitous as cookies, experts said.

Kimberly-Clark is exploring several areas more closely, including second-party data relationships with publishers and leveraging those in tandem with audience-based targeting, according to Blacksmith. The marketer is also ramping up investments in personalization, he said, while trying to steer clear of pitfalls like leaning in too far on one-to-one marketing, which has previously disappointed CPGs.
CYDigital/marteq.io's insight:

A D2C approach for CPGs may or may not be warranted, but a D2C relationship built on trust and transparency is absolutely a game changer.

 

And that's where we come into play: we directly bridge the consumer and the brand so that the brand has the opportunity to permit the consumer to engage based on trust! See our solution!

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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The CCPA Is Live for Enforcement—Is Your Website in Compliance? | Hanzo - JDSupra

The CCPA Is Live for Enforcement—Is Your Website in Compliance? | Hanzo - JDSupra | The Marteq Alert | Scoop.it
CCPA compliance is complex; what we’re offering here is neither legal advice nor a comprehensive guide to the CCPA. That said, these five tips will give you a good start on making your website CCPA compliant.

1. Add a “Do Not Sell My Personal Information” link to your homepage.

2. Provide notice anytime you’re going to collect personal information.

3. Create a clear, understandable privacy policy and make sure visitors can find it.

4. Provide data request forms and link to them.

5. Make sure website visitors know how to contact you online and offline.
CYDigital/marteq.io's insight:

Get crackin'.

 

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Context is Key: Why Marketers Need Transparency in a Post-Cookie World - MarTech Cube

Context is Key: Why Marketers Need Transparency in a Post-Cookie World - MarTech Cube | The Marteq Alert | Scoop.it
With the cookie set to become obsolete over the next year or two, marketers will no longer be able to rely on retargeting to identify and price their most likely customers. Rather than making spending decisions based on who the consumer is and what sites they’ve browsed in the past, advertisers will instead need deep insight into the context surrounding every click.

The era of the cookie is coming to a close, and marketers will have no choice but to return to the pre-cookie days of making their decisions based on context. And in order to get context-based marketing right, they’re going to need lots of transparency.

Fundamentally, marketers are most successful when they’re maximizing a ratio known as lifetime customer value to customer acquisition costs (LTV-to-CAC). Without a transparent buying partner, marketers don’t get the context they need to pursue this goal effectively.
CYDigital/marteq.io's insight:

Trust, transparency. All concepts that now must be delivered in the age of data privacy. There's a much better path to engagement, and that path is built on data ownership: when you give the consumer ownership over their data, and ask permission to use it, then trust and transparency will be achieved.

 

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How can marketers increase their chances of successful martech investment? – eConsultancy

How can marketers increase their chances of successful martech investment? – eConsultancy | The Marteq Alert | Scoop.it

In simplistic terms, the reason for this could be that companies are investing budget without having the skills, people, or time to deliver the desired outcome.

Of course, there could be much more nuanced reasons at play, too, which is what Econsultancy’s latest whitepaper (in partnership with TAP London), aims to uncover.

One of the main points the whitepaper raises is the importance of clarity, particularly at the start of the process. Crucially, marketers should consider the question: “What are we trying to achieve?” From this, the focus should be on building a business case that is both realistic and motivating.

 

The next step for businesses is to ask another important question. Namely, “Can we achieve the outcome with the technology we already have?”

CYDigital/marteq.io's insight:

The whitepaper is available to subscribers, but the larger point is the last paragraph of the summary!

 

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The downfall of adtech means the trust economy is here - TechCrunch

The downfall of adtech means the trust economy is here - TechCrunch | The Marteq Alert | Scoop.it
I believe the future of marketing is the trust economy. The Stop Hate for Profit campaign, the invasion of privacy and shifting attitudes and behaviors of consumers point to the end of an era where marketers relied upon third-party data. Trust is now the most impactful economic power, not data. We conducted research earlier this year with eConsultancy, and our findings revealed that 39% of U.S. consumers don’t like personal ads driven from cookie data. People don’t want to be tracked and targeted as they click around the web. Ad tech’s roof is caving in and marketers must adjust.

The old methods of marketing won’t carry you through into the era of the trust economy. It is time to look to new channels and revisit old channels. We have to shift back to the channels where we own what is being said. Advertising on social platforms should be focused on driving consumers to owned channels where you can capture their permissions and data to connect with them directly. Consider email as a channel to focus on.

Don’t worry — it works. That same eConsultancy report found nearly three out of four consumers made a purchase in the last 12 months from an email sent by a brand or retailer and massively outperformed social ads when it came to driving sales. Similarly nine times as many U.S. consumers want to increase their participation in loyalty programs in 2020 than those that want to reduce their involvement. You have to ensure you are owning your data and loyalty programs are a treasure trove of consumer data you own. Emily Collins from Forrester does a good job of explaining why you can achieve this with a true loyalty strategy, not just a rewards program.
CYDigital/marteq.io's insight:

From Cheetah Digital, who we consider a competitor for a newco. Their CMO's words are accurate: we completely agree that we're now in the throes of the "trust economy."

 

To elicit trust, there must be communication, and the basis for trust-driven communication is your express willingness to give consumers control over their data, then ask for permission to access and use it for their advantage. 

 

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PayPal Holdings (NASDAQ: PYPL) CEO Dan Schulman: “Rise of Digital Wallets Will Drive PayPal’s Growth”

PayPal Holdings (NASDAQ: PYPL) CEO Dan Schulman: “Rise of Digital Wallets Will Drive PayPal’s Growth” | The Marteq Alert | Scoop.it
Finally, I’d like to discuss our recent announcement to increase the utility of cryptocurrencies, as well as embrace new forms of Central Bank digital currencies. We are entering a new era of financial services where our wallets and all the services around them are moving from physical to digital. These include identity management, new forms of commerce and fully digital payments and financial services. As such, we recently announced that PayPal will allow account holders to buy, sell and hold cryptocurrencies first, in the U.S. and then expanding to international markets in the Venmo platform in the first half of next year.

Importantly, we are doing this in close partnership with regulators. As you saw, the New York Department of Financial Services granted PayPal, a first of its kind conditional bit license. With this foundation in place, we will rapidly move at the beginning of next year and allow consumers to use cryptocurrencies as a funding instrument to shop across all 28 million of our merchants. This solution will not involve any additional integrations, volatility risk or incremental transaction fees for either consumers or merchants and will fundamentally bolster the utility of cryptocurrencies. This is just the beginning of the opportunities we see as we work hand in hand with regulators to accept new forms of digital currencies…”
CYDigital/marteq.io's insight:

Straight from the source. What's especially exciting is the level of simplicity that will be built-into the PayPal digital wallet. 

 

This is a huge step towards the massification of crypto, opening it up to all types of brands to adopt it as the basis for digital rewards.

 

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Customer Engagement and Return on Loyalty - The Wise Marketer

Customer Engagement and Return on Loyalty - The Wise Marketer | The Marteq Alert | Scoop.it

What are the characteristics of an effective customer engagement-increasing initiative? They include:

  • Dialogue. Participation by all parties, emphasising flexibility, interactivity. The Domino’s ‘Pizza Turnaround’, an active listening and testing initiative to improve their product and experience used social & direct feedback channels. It helped take Domino’s stock price from $9 to $160 between 2009 and 2016.6
  • Facilitation, not instruction. Effective marketing programs avoid leading, and instead facilitate participation, involving consumers in creating and carrying out the initiative. Sephora’s Beauty Insider encourages customers to work with beauty advisers on their ‘look’.
  • Authenticity. The program must be genuine and not simply a ploy to sell products. Patagonia encourages direct customer to customer experience sharing, Decathlon offers a second-hand marketplace for customers to recycle products, at a real cost to their own sales.
  • Relevance. Information which is useful or pertinent to the decision-making process. Trip Advisor popularised the rating and comments of peer travellers, heightening the relevance of their service.

 

And look for individuals who have;

  • High interest in new experience-seeking.
  • Are looking for meaningfulness in an organization’s program(s).
  • Believe the program is psychologically safe, they will not be made to look foolish.
  • Are psychologically available to your program, have an interest in what you have to say.
CYDigital/marteq.io's insight:

So how do you find these individuals? By collecting data directly from them in exchange for a digital reward.

 

See how extended zero-party data is your greatest marketing resource...tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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