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How Ikea is handing data control over to its customers - Fast Company

How Ikea is handing data control over to its customers - Fast Company | The MarTech Alert | Scoop.it
For all their talk of transparency, most companies continue to make it difficult for consumers to exert control over their personal data. Ikea wanted to approach the issue differently, and collaborated with digital product firm Work & Co on a new set of digital tools that put privacy front and center. Customers can choose if and how their browsing and purchase histories are used to inform product recommendations, as well as how long Ikea keeps their data. Unlike many sites, which make privacy options almost impossible to find, Ikea’s data controls are seamlessly integrated into the shopping experience—users can swipe up to view and change their preferences at any time. “There is real value being exchanged,” says Dever Thomas, associate design partner at Work & Co. “[Many] people know what a personalized experience is and want that in exchange for being tracked. It builds trust.” Future features will let users see exactly how a given data point influences the search algorithm or changes the personalized recommendations. “I hope this leads to a larger paradigm shift,” says Thomas. “Instead of signing away all of your rights by pressing an ‘okay’ button when you first land on an app, [you] understand how data is used.”

CYDigital/marteq.ios insight:

Want the same thing? Contact me! That's what we do!

 

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

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Do You Have Customer Data You Can Trust? - Datanami

Do You Have Customer Data You Can Trust? - Datanami | The MarTech Alert | Scoop.it
1. Disparate Data: Almost every company we worked with cited disparate data as one of its most significant data quality challenges. Over the past decade, the demand for acquiring more customer data to fulfill hyper-personalization goals has increased dramatically. Companies are frantic. Hundreds of thousands of dollars are being spent on a range of enterprise apps to collect and store more data. But more data is not helpful if there’s no way to consolidate it. Add to this, third-party and external data make it even more difficult to get an accurate customer view.

2. Duplicate Data: An inevitable problem, duplicate data results from heterogeneous sources. In some instances, it can also be caused by human data entry errors with multiple reps simultaneously entering information on the same platform.


3. Dirty Data: In an ideal world, data from a single source with controls in place is clean. In the real world, data comes in from multiple sources and by its very nature, it is messy. Data that is missing, mislabeled, incorrect, rife with typos, errors, fake information, etc is considered dirty data – and almost every company struggles with dirty data as a persistent problem because data ownership is unclear, data cleaning is labor-intensive and time-consuming and companies would rather ignore problems than fix it.
CYDigital/marteq.ios insight:

The post delineates issues with data, and the steps you can take to get your data under control. MIA: what tools to use to assist. Start with a CDP.

 

Join the marteq.io white list to receive pre-launch benefits: https://un.marteq.io/wl1/ #martech #marketing

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What is toxic data and why should marketers care? - The Drum

What is toxic data and why should marketers care? - The Drum | The MarTech Alert | Scoop.it
At present, many marketers in APAC find that they are being forced to rely on third-party data to identify and reach consumers. But more often than not this data is unreliable, unconsented and passed through multiple hands before it is used - resulting in higher costs and lower accuracy for marketers overall.

Data safety is all about ensuring that the data you’re using is safe, not toxic, for all digital advertising. When we talk about toxic data, we refer to any advertising data that is collected or used without the explicit permission of the consumer. So, by definition, safe data is any data collected or used with freely given and informed consent from the consumer, in compliance with all data privacy laws.
CYDigital/marteq.ios insight:

The only true non-toxic data is data volunteered by consumers, aka zero party data. It should be the lifeblood to the database.

 

Join the marteq.io white list to receive pre-launch benefits: https://un.marteq.io/wl1/ #martech #marketing

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How Social Media Platform Data Could Be Hurting Businesses

How Social Media Platform Data Could Be Hurting Businesses | The MarTech Alert | Scoop.it
Dirty data can have a negative effect on a company’s bottom line, with some business leaders estimating erroneous online accounts have cost them 12% of their overall revenue. In addition to lost revenue, dirty data can result in wasted time, missed opportunities, ineffective marketing strategies and poor engagement. Overall, poor data quality has cost the US economy approximately $3.1 trillion annually.

Better quality data has a wide range of benefits for businesses including increased productivity, faster sales cycles and access to information to help management make more informed and better decisions. Companies that rely on clean, accurate data have an estimated lead-conversion rate of 68-1 compared with 143-1 for those that do not. On average 79% of companies that use personalized marketing campaigns exceed their revenue objectives. But correct data in the first place is essential to personalization.
CYDigital/marteq.ios insight:

The best data? Data that is owned by the consumer.

 

Join the marteq.io white list to receive pre-launch benefits: https://un.marteq.io/wl1/ #martech #marketing

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What It Looks Like When Customers Control Their Data - CMSwire

What It Looks Like When Customers Control Their Data - CMSwire | The MarTech Alert | Scoop.it
The long-term picture is clear. It’s time to move away from cookies and toward personalized interactions with customers who willingly make the choice to share their data in exchange for a valuable service. Businesses need to be transparent with consumers about how their data is being collected, and how it is going to be used.

“Transparency and accountability are key to building consumer confidence. The pillars of good data governance [are] based on principles of individual’s rights to and for their own data, and corporate responsibility to maintain ethical and responsible data principles for security, privacy, transparency, control, accountability, integrity, innovation and social impact,” said Dana Simberkoff, chief risk, privacy and information security officer at AvePoint Inc.

For businesses, they will once again need to build direct relationships with customers that enable them to gather valuable first-party data. For customers, they’ll have the choice to opt in to personalized services, subscriptions, mobile coupons and access to premium content through the use of privacy-first methodologies and interactions with a business.
CYDigital/marteq.ios insight:

First party data pales in comparison to zero party data, which in turn is inferior to extended zero party data. Legislation, consumer trends, elimination of cookies, etc.: these are all factors telling you to switch to extended zero party data.

 

Join the marteq.io white list to receive pre-launch benefits: https://un.marteq.io/wl1/ #martech #marketing

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Marketers still struggle to build a unified source of data - MarTech Today

Marketers still struggle to build a unified source of data - MarTech Today | The MarTech Alert | Scoop.it
The challenges outlined by Emily Hoffman, product marketing manager for Datorama, are often the result of disparate and siloed systems across not only the marketing organization, but businesses at large. Marketing efforts are spread across various channels — paid ads, social, email, etc. — without the technology or resources to effectively tie together the data from multichannel campaigns. Meanwhile, teams managing various data sets are just as divided with marketing, business intelligence, customer service groups and more all working within their individual silos.

“Marketers really need a transparent and holistic view to see what campaigns are most effective, how their content and offers are performing and how to understand all of their engagement,” said Hoffman, “And then, on the other side, transparency across teams is equally as important because it allows stakeholders to align and to ensure that every everyone is striving toward a shared goal.”

A Forrester report from last year backs up Hoffman’s claims, finding that marketing and business intelligence teams were often too siloed to maintain effective communication patterns, even though they relied on each other for day-to-day operations. (More recent research from Forrester found that less than 40% of customer experience executives even knew where all of their customer data was stored.)
CYDigital/marteq.ios insight:

From the adjacent post: the CDP is the core to your martech stack.

 

marteq.io delivers zero party data solutions that significantly reduce digital advertising costs. Learn more: https://www.marteq.io #martech #marketing #adtech

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Don't ignore data compliance when adding 3rd party marketing tools - MarTech Today

Don't ignore data compliance when adding 3rd party marketing tools - MarTech Today | The MarTech Alert | Scoop.it
Data management has been an ongoing issue for marketing and customer experience teams for some time. Last November, Forrester reported less than 40% of the customer data executives it surveyed knew where their company’s data was even stored. The primary issue? Inadequate data management processes — only 5.6% of Forrester’s survey respondents scored a “4” or higher on a scale of 1 to 5 when measuring the company’s data management maturity level.

“Do you know where your customer data is going? If you were to map all of the interactions on your website, do you actually know which third-parties are interacting with the user data on your website when it’s rendered in the browser?” asked Wallace. “As an organization, you are actually responsible and liable for non-compliance, even if it’s one of the third-party components that you’re utilizing, in terms of CCPA and GDPR.”

Data compliance goes beyond simply enforcing CCPA regulation measures — things like allowing website visitors the ability to opt-out of their data being sold to third-parties or the right to request a business delete their personal information. True compliance includes having a handle on your data management practices, from how you store and implement data internally to knowing what data you are sharing with third-party tools.
CYDigital/marteq.ios insight:

The easiest solution is to give the consumer complete and unabated control over their data, then to request permission to use some or all of that data.

 

marteq.io delivers zero party data solutions that significantly reduce digital advertising costs. Learn more: https://www.marteq.io #martech #marketing #adtech

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