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52% of B2C customers switch brands when they don't get personalized experience - Exchange4media

52% of B2C customers switch brands when they don't get personalized experience - Exchange4media | The Marteq Alert | Scoop.it
A big challenge for marketers, today, is connecting with consumers in a cluttered and multi-platform environment. As marketers re-strategize their marketing plans in the new normal, customer experience is both a priority and the biggest challenge. This is because consumers are loyal to experiences, not companies. In fact, according to ‘Inspire Instant Engagement: Discover Real-Time Interaction Management with Salesforce Marketing Cloud’ e-book, 52% of B2C customers say, they’d switch brands if they didn’t feel they were getting a personalized experience.

The e-book states that to build a consumer connect, marketers need to develop strong, adaptable relationships with consumers by inspiring timely, relevant engagement every time and everywhere a consumer interacts with a brand. However, many marketers use disparate tools to manage channels, causing a disconnected experience for consumers. In addition, data regarding each individual isn’t shared between departments, which means multiple teams are trying to market to the same consumer. This, at a time, when the connected consumers are expecting incredible relationships and brand experiences.
CYDigital/marteq.ios insight:

52% will switch brands?

 

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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The myth of hyper-personalization - algorithms are still undermining the customer experience - Diginomica

Mostly we have brute force algorithms, attempting hyper-personalization without regard for those who find it intrusive - not too far from the mass email blasts most companies still indulge in.

Why would companies do this? Because the downside - alienating a minority of hyper-sensitive users, only a percentage of which vocalize their dissatisfaction - is considered acceptable collateral CX damage.

Typically, those alienated include a once-important user base for the company: folks we might call early adopters or super-users. These folks don't mind rough patches in early releases - especially if they can configure exciting new services. However, in the great UX dumbing down, simplicity and mass user adoption is the highest value. The only problem? Sometimes when you oversimplify an app or service, you harm it - or make it unrecognizable to those who built your audience.
CYDigital/marteq.ios insight:

The post reveals the folly of personalization vs. blasting: if blasting is going to garner X% more than personalization, and there's little cost, why not do it? The moral of the story: TEST!

 

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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When it Comes to Personalization, Think IA Before AI

When it Comes to Personalization, Think IA Before AI | The Marteq Alert | Scoop.it
"Understand that personalization requires orchestration of multiple internal processes and a holistic view of content, product information, the customer journey and knowledge of customer needs and solutions," said Seth Earley, CEO of Earley Information Science and author of “The AI-Powered Enterprise.” "Many organizations attempt personalization without an understanding of what a personalized experience really means — they don’t know the customer well enough to distinguish messaging across segments. The upstream processes are not mature enough to determine what a truly personalized experience means."

In order to deliver personalized customer experiences at scale, Earley recommends that organizations look closely at four areas — their customer data foundation; componentized content; product architecture; and knowledge and insights. In each area, the focus should be on adopting unified models, using advanced services and expertise, and deploying standardized platforms and processes.

“Established organizations with mature content offerings spend more time and attention on metadata and their strategic approach to data and measurement than they will on content per se,” Jeffrey MacIntyre, principal of Bucket Studio said. “It’s IA [information architecture] before AI.”
CYDigital/marteq.ios insight:

The starting point: data. Rely on zero-party data as the basis for your personalizations strategies.

 

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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How To Grade Your Marketing Personalization Strategy - CMSwire

How To Grade Your Marketing Personalization Strategy - CMSwire | The Marteq Alert | Scoop.it
Assessing the effectiveness of your marketing personalization strategy can be a tough business. Research by Evergage shows that 86% of the surveyed marketers feel less than comfortable with their current personalization strategies and that only 1% feels extremely confident. 

The respondents cited issues such as a lack of data unification and lack of omnichannel strategies as their main hurdles towards personalization. Plus they mentioned problems with their tech stack as another issue that prevented an adequate assessment of their personalization strategies.  
CYDigital/marteq.ios insight:

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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63% of marketers are struggling to deliver omnichannel experiences – Econsultancy

63% of marketers are struggling to deliver omnichannel experiences – Econsultancy | The Marteq Alert | Scoop.it
According to the report, only a few marketers have gotten to grips with omnichannel marketing. At the time of the survey, 63% of respondents said that they were at a ‘basic’ or ‘developing’ level. Just 11% of marketers report that they are able to ‘deliver integrated and real-time omnichannel experiences, based on a 360-degree customer view’.

Interestingly, the survey highlights the fact that IT executives tend to be less likely than marketers to describe their organisations as ‘proficient’ or ‘optimised’ in relation to omnichannel marketing.

It’s suggested that this is due to IT being more aware of the data and technical risks faced by businesses (as well as the challenges of integrating martech stacks), and therefore less likely to be more optimistic. Or perhaps, rather, more likely to offer a realistic viewpoint.
CYDigital/marteq.ios insight:

Interesting contrast between Marketing and IT. And the issue will grow more dire as we see 3rd party cookies leave the scene.

 

The only viable solution: extended Zero Party Data. It delivers a rock-solid 360-degree view of each consumer without the need for 3rd 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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Where Should You Focus Your Marketing Personalization Efforts - CMSwire

Where Should You Focus Your Marketing Personalization Efforts - CMSwire | The Marteq Alert | Scoop.it
Gartner’s Evan Bakker, principal analyst on the Digital Performance Benchmarks team for Gartner, suggests the approach to marketing personalization is what’s ultimately critical. He noted that 79% of CMOs are primarily relying on existing markets to fuel growth. That means doubling down on first-party data, or the data collected directly from their own audience.

“Yes, personalization has always been under question,” Bakker told CMSWire. “But I think another overarching objective is to try and extract or draw as much value out of your existing customers as possible, as opposed to eating up a lot of budget on the acquisition side: acquiring new customers who you're not sure whether or not they'll stay. It’s really all about doubling down on your known customers.”

Mary Meeker has his back on this one. In her 2019 Internet Trends report, Meeker reported a reality that Customer Acquisition Costs (CAC) can’t exceed Lifetime Value (LTV) for very long. 

Specifically, Bakker's research found marketers would benefit if they focus on:

Explicit First-Party Data: Which Gartner defines as data “actively entered by the user, e.g., gender, phone number, birthday, on brand sites.”
Implicit First-Party Data: Data “captured based on session behavior and location by the brand on site.”
CYDigital/marteq.ios insight:

Without the right data, personalization is impossible. But first party data, explicit or implicit, is not nearly as strong as zero party data. And extended zero party data, from marteq.io, is the most powerful source of data for the brand. Ask us.

 

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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Personalization In Retail Is Here To Stay—But What Does It Mean? - Forbes

Personalization In Retail Is Here To Stay—But What Does It Mean? - Forbes | The Marteq Alert | Scoop.it
In general, the definition of personalization fell into two buckets: marketing and promotion. On the marketing side, personalization means offering customers something that speaks to them on a human level.

When discussing personalization from the promotional standpoint, subjects had an even more diverse range of opinions. While many saw opportunity in personalized promotions, others expressed concern over a “race to the bottom” mentality when it came to discounting.

Those that saw opportunity in personalized promotion tended to view the strategy through the lens of loyalty. If consumers can be siloed off by their purchasing habits, they can be given special promotional pricing not offered to other customers. And, by that reward system, they build brand loyalty while simultaneously boosting sales. This strategy also presented the issue of “cannibalizing” profit; giving loyal customers deals when they would be buying the same product at full price. By tailoring the offering, however, retailers can find value where perhaps it didn’t exist before.
CYDigital/marteq.ios insight:

Personalization of offers, of those items that are timely and priced correctly to incent the sale where there may not have been one.

 

That's what we do: delivering a JIT delivery of customized offers based on the consumer's specific and communicated desires, stemming from extended zero party data.

 

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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Rethink experience curation not personalization - ClickZ

Rethink experience curation not personalization - ClickZ | The Marteq Alert | Scoop.it
  1. Marketers might believe that implementing personalization will result in every customer having a unique experience, and that they will actually realize that their experience differs from the experiences of others.
  2. Many attempts at personalization often simply segment audiences into a small number of cohorts and then push different content or offers to each cohort.
  3. While it’s fine to segment customers and align content and offers accordingly, marketers must take the next step: create satisfactory experiences for the customer through a process of curation.
  4. The process of Experience Curation starts with a few core principles:
  • Customers are more than the provided or inferred demographic, sociographic, and psychographic data associated with them.
  • Customers’ needs and wants change across time and situations.
  • Experiences can and should be more than just targeted offers and relevant content.
CYDigital/marteq.ios insight:

This is a GREAT point, and not easily accomplished with today's data sources.

 

However, extended zero-party data does provide you with the ability to segment by experiences, as the consumer experience would be communicated directly to you from the consumer, either overtly or via behavior.

 

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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Instagram gives users new control over personalized ads using third-party data   | Ad Age

Instagram gives users new control over personalized ads using third-party data   | Ad Age | The Marteq Alert | Scoop.it

"Instagram is rolling out a new control that lets users opt out of personalized ads from its advertising partners—and could force marketers to change their approach to the platform.

 

The settings, called “Data from Partners,” will prompt users to choose whether the Facebook-owned social media platform can use data from partners to serve up more targeted ads. The technology is why ads for exercise gadgets appear after browsing websites related to back pain, for instance, or why ads for noise-canceling headphones seem to follow users around even on different platforms—long after an initial visit.

 

Users will see a one-time notification inside the app that prompts them to keep or change their settings. Instagram says opting out will not change the volume of advertisements, and the setting will roll out to all users globally throughout the week. The choices will also reflect changes a user may have previously made on Facebook through its Ad Preferences settings."

CYDigital/marteq.ios insight:

We're in the beginning stages of extensive data notifications from platform to consumer, and it's going to continue at a far faster pace. 

 

For the marketer, this means less access to third party data to mesh with first party data. Solution: extended zero party data which replaces third party data at a fraction of the cost.

 

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

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'No need for lofty marketing ideas, just simplify consumers' lives' - Marketing Interactive

'No need for lofty marketing ideas, just simplify consumers' lives' - Marketing Interactive | The Marteq Alert | Scoop.it
Companies nowadays have to fight for consumers' time and fleeting attention by creating a more personal and meaningful touch. Doing so can potentially help humanise the brand and bring it to life in the eyes of consumers. According to a trends report by SaaS company Acquia, which surveyed 8,000 consumers and 800 marketers across Australia, France, Germany, Japan, Mexico, Singapore, the UK and the US found that 96% of marketers saw improvements with customer engagement after personalisation initiatives. Also, half of brands see increased engagement with their branding and 41% experience more repeat purchases.

For some, the idea of personalisation and offering a meaningful touch might lead to the misconception that advanced tools and fancy tactics are needed. That, however, is not the case. During a panel discussion at MARKETING-INTERACTIVE's Digital Marketing Asia 2020 virtual conference moderated by Andreas Vogiatzakis, executive director at AMVPlus Advisory, Mastercard's VP, regional consumer marketing, Kaveri Khullar, said the idea of personal and meaningful "does not have to be lofty". As long as the brand is creating utility for consumers and simplifying their lives, then it is meaningful, she explained.

"Digital is an enabler of personalisation rather than being a detractor or a barrier," she added. One way to be personal and meaningful to consumers is of course using data, which Khullar also terms "digital engine". According to her, the digital engine which her predecessor created for Mastercard carries out social listening and harnesses the information generated to create real-time dynamic campaigns.
CYDigital/marteq.ios insight:

Personalization initiatives work. We all know it: there's data to prove it beyond our intuition. And digital is by far the means to make it happen.

 

With our extended zero party data, you can attain the highest levels of personalization at just the right time. Let us help.

 

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 personalisation rule for a data-deprecated world - The Drum

The personalisation rule for a data-deprecated world - The Drum | The Marteq Alert | Scoop.it
Scaling campaigns in the past seemed easy due to the plethora of third-party data available for traders to liberally sprinkle into campaigns to meet budget and performance goals. Yet as we continue to see more data providers repeal their third-party data taxonomies, brands expect to see scalability affected, but they might not realise the hidden use cases where third-party data is a foundational element, like, for instance, audience insights. And with insights being a key criteria for better personalisation, it’s time for brands to concentrate on the substance of the data they can collect themselves.

One impactful way to derive insights without reliance on external providers is through zero-party data. Whereas first-party data relies on a consumer’s behaviours or inputted information, such as their name, email address, date of birth, home address, purchases etc, zero-party data covers areas that cannot be inferred and that no third-party provider could capture independently. For example, a beauty brand might ask your hair type (curly, wavy, straight, fine, thick or frizzy), or an FMCG brand might want to know your preferred snack flavor (sweet, salty or crunchy).

By working with a technology provider that can help deploy zero-party data collection strategies at scale, brands can have richer, more distinctive ways of understanding their audience, and an even clearer value exchange for consumers: more personalised messaging. All without relying on third-party data.
CYDigital/marteq.ios insight:

And extended zero party data (only marteq.io provides) is the complete replacement for third party data. Frankly, a much smarter means to execute on personalization.

 

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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How to Develop a Retail Personalization Strategy - Built In

How to Develop a Retail Personalization Strategy - Built In | The Marteq Alert | Scoop.it
There are endless personalization options available now, from sorting on the product listing page to product recommendations to targeted ads on social media. It is critical to focus on harmonizing all efforts that seek to meet consumers’ preferences. At the same time, it’s also important to stray away from personalized elements that fall short of providing consumers trust in your brand. Think: recommending out-of-stock products or providing an overly tailored experience without consumer input — like retargeting consumers on other channels where the “creep factor” sets in. This can do more harm than good. Look instead for technologies that are multifaceted and provide curated experiences on web, email and social media. At Fit Analytics, for example, we are able to provide size, fit and style recommendations in an omni-channel experience for retailers using AI learnings and API integrations.

CYDigital/marteq.ios insight:

It's a great use case for personalization at the retail level, and should prompt some thinking as to how to approach this as a strategy.

 

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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Oreo lets fans customize cookies in personalization push - MarketingDive

Oreo lets fans customize cookies in personalization push - MarketingDive | The Marteq Alert | Scoop.it
  • Mondelez's Oreo brand is letting people order customized versions of the sandwich cookies with the OreoID experience on its website, per information emailed to Marketing Dive.
  • Customers can choose from eight colors of creme filling, or personalize the cookies even more by having them dipped in fudge and covering the edges with combinations of eight sprinkle colors. Oreo also offers optional features, such as adding images and personalized messages like "Happy Birthday!" in different fonts and colors.
  • Oreo is offering the customized cookies as people start shopping for holiday gifts and party treats. The packaging options vary from single party favors for $2.50 each with a minimum order of 20, to a gift box of 24 cookies for $52.95, per its website. Personalized cookie orders take eight to 10 business days to process, according to Oreo's website.
CYDigital/marteq.ios insight:

Food and Mass Merch will never be threatened by this, but these are high ticket items with rich margins.

 

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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Why Customer Journeys Are the Key to Getting Personalization Right - CMSwire

Why Customer Journeys Are the Key to Getting Personalization Right - CMSwire | The Marteq Alert | Scoop.it
Understanding your customer’s entire experience with your organization from their viewpoint is critical to improving personalization. Meaningful personalization needs to account not only for the customer’s current, or even most recent, interaction, but also for every step of the customer’s journey that led them to the current touchpoint, whether it be a service call, mobile payment or transaction.

Only by managing customer journeys will your organization be able to use each customer’s complete experience to determine how to interact with them as they move across channels to achieve their goals.
CYDigital/marteq.ios insight:

Without touchpoints from digital properties outside of your purview, it's difficult to capture the complete experience. But we have the solution to that.

 

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

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Truist's New CMO Has Strong Views on Fintechs and Personalization - The Financial Brand

Truist's New CMO Has Strong Views on Fintechs and Personalization - The Financial Brand | The Marteq Alert | Scoop.it

One hot button in financial marketing that Vinoo Vijay, new EVP and CMO at Truist regards with care is personalization. It’s one of the profession’s current darlings, and Vijay says that while he gets it, and believes it can be very relevant and important to customers, the sheer ability to hyperpersonalize can lead to wasted time and effort.

“You can overuse it, even abuse it, in ways that are not useful,” he says. Nowadays it is possible to personalize a message down to specific wordings, illustrations and more.

“You can start getting crazy uber-optimization,” says Vijay. “There comes a point where you are no longer doing a service for the client and not doing a service for conversion either.”

CYDigital/marteq.ios insight:

I think it's worthwhile to differentiate personalization: there's personalization of the message, which has its role in commerce, and there's personalization of the product/service, which should be the marketer's goal. If the marketer can deliver the right product/service at the right time to the right person, then that's personalization.

 

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Google Gets Closer To Targeting Ads Based On Personalization, Privacy 10/23/2020 - MediaPost

Google Gets Closer To Targeting Ads Based On Personalization, Privacy 10/23/2020 - MediaPost | The Marteq Alert | Scoop.it
Google has released findings of a preliminary study that tests the use of audience cohorts, people with similar browsing histories and interests who might be targeted collectively rather than individually. It almost seems like a step backward by stepping sideways to achieve its goal. 

The test aims to support the end of individual cookie targeting and cross-site tracking.

Using its Federated Learning of Cohorts API, a privacy-preserving mechanism in its Chrome Privacy Sandbox, Google managed to show that targeting interest-based cohorts perform better than random user groupings.
CYDigital/marteq.ios insight:

At the end of the day, it still relies on the individual creating data for Google to leverage without compensating the consumer. 

 

There are many personalization tools out there, but your best bet is to use a platform into which many martech apps can (and do) integrate.

 

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Use Data Compilation or Personalization Tools to Do the Heavy Lifting - Search Engine Journal

Use Data Compilation or Personalization Tools to Do the Heavy Lifting - Search Engine Journal | The Marteq Alert | Scoop.it

There are a ton of personalization tools out there to choose from including:

  • Marketing automation platforms like Marketo or HubSpot.
  • A DXP like Sitecore.
  • ABM tools like DemandBase.
  • All-in-one options like Salesforce Marketing Cloud that allow you to manage your targeted advertising audiences.

 

You can absolutely invest your way into better personalization or targeted advertising opportunities, but every tool is only as useful as the extent to which teams are using them.

Don’t be the team that uses something like Marketo as a glorified email marketing tool or Sitecore as a fancy word processor. You have to actually get to know the tool or it can’t help you with your targeting or personalization.

CYDigital/marteq.ios insight:

There are many personalization tools out there, but your best bet is to use a platform into which many martech apps can (and do) integrate.

 

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

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Walgreens Marketing Moves Into Mass Personalization - Forbes

Walgreens Marketing Moves Into Mass Personalization - Forbes | The Marteq Alert | Scoop.it
What noteworthy changes have we seen in the usefulness of predictive analytics over the past few years?

Walgreens Boots Alliance, VP Cecilia Wu: With more than 100 million members of our loyalty programs, we now have more data than ever, as well as a mature and scalable technology stack, to improve customer use cases with predictive analytics.

On the retail side, we are making life easier by basing product recommendations on purchase history and comprehensive customer profiles. Within pharmacy, predictive analytics are helping patients manage their health by improving medication adherence.

As we bring all of our data together to develop a more singular, unified view of the customer, we will continue to replace rules-based models with machine-learning models to create more seamless, personalized customer interactions.
CYDigital/marteq.ios insight:

Now imagine combining that data with the consumer's online behavior including shopping at competing sites. It's doable, and available right now.

 

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Customer Data: Wielding the Power of AI Wisely - CMSWire

Customer Data: Wielding the Power of AI Wisely - CMSWire | The Marteq Alert | Scoop.it
As brands everywhere grapple with the "new normal,” which includes a new receptivity on the part of many consumers to trying new brands and ways of shopping, knowing what they want is more important than ever. Not surprisingly, there’s a significant push to embrace personalization across a brand’s digital touchpoints. According to market research Acquia recently completed surveying 8,000+ marketers across eight countries, 96% of respondents reported they have seen improvements with customer engagement after personalization initiatives. Half of marketers surveyed also reported seeing increased engagement with their brand and 41% experienced more repeat purchases.

AI is swiftly becoming one of the most important ways brands are maximizing the value of vast amounts of customer data and creating the most personalized digital experiences at scale. In that same study from Acquia, 44% reported adopting AI and ML tools in the past 12 months. Strong uptake isn’t surprising: a 2019 Deloitte survey of 1,100 U.S. advertising and marketing firms considered early AI adopters found that 82% reported positive ROI for their AI initiatives.
CYDigital/marteq.ios insight:

AI usage does not resolve the issue of data privacy, and is not as accurate as the data provided directly from the consumer to you.

 

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Can privacy and personalization coexist? - KnowTechie

Can privacy and personalization coexist? - KnowTechie | The Marteq Alert | Scoop.it
Federated learning, for example, has given rise to a privacy-centric approach to personalization. A search engine, for example, would still collect your data, but it would never leave the device you used to perform the search. Rather than sending it to a central server for analysis and to be used in future AI training, the data stays with you, and personalization algorithms train themselves without ever sharing your most personal information.  

 In the privacy vs personalization debate, it’s really the best solution we have moving forward, one that protects consumers while still delivering the experiences they’ve come to expect. And it will only get better with time, and increased use. 
CYDigital/marteq.ios insight:

Nope: completely disagree. They've got it wrong: the best solution is where the consumer owns their data, and permits your use of the data in exchange for a digital reward.

 

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Personalization is key for marketers to drive consumer connections: study | Ad Age

Personalization is key for marketers to drive consumer connections: study | Ad Age | The Marteq Alert | Scoop.it

According to new research from Magna and IPG Media Lab, personalized ads based on major life events perform best.

 

The study included responses from over 6,600 participants from the auto, retail and finance industries. Testing was conducted using each brand’s demographic target, as well as high-value audiences, which use people-based IDs for brand-identified targeting personas created by Kinesso.

 

“Relevance is a critical part of brand marketing strategy because people today are inundated with content on a daily basis and it can be overwhelming,” said Kara Manatt, senior VP, group director, Intelligence Solutions at Magna Global, in a statement.

 

“Personalized messaging can not only help create more relevant ads, but also help amplify brand stories, forging stronger, more solid personal connections.”

 

While utilizing precision targeting of high-value audiences is effective, these consumers are typically critical of mass-market messages, and are much more open to personalized ads. Of course, personalization doesn’t guarantee branding. The performance of a personalized ad is amplified when branding is incorporated into the messaging, making them 8% more memorable than standard ads. The same best creative practices should be applied when planning for personalization.

CYDigital/marteq.ios insight:

That last finding is incredible: the boost when branding is incorporated into the personalization.

 

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Retail adopts smarter technology as industry relearns operations - CIO Dive

Retail adopts smarter technology as industry relearns operations - CIO Dive | The Marteq Alert | Scoop.it
The shift to online shopping, as well as the use of associated AI technologies that support personalization, will persist in the post-pandemic era, according to Arun Sundararajan, Harold Price Professor of Entrepreneurship and Technology at New York University's Stern School of Business. 

AI was already spreading its reach in the technology stack that powers retail, by way of personalization engines and predictive analytics that suggest to shoppers what they may need next. The pandemic will solidify these tools as the default as the retail industry relearns operations.

"The entire business model has changed in a way that requires humans less and is reliant more on simple AI technologies like recommendation systems," said Sundararajan. "I think what the pandemic has done is dramatically accelerate the shift online."
CYDigital/marteq.ios insight:

Note that the fuel for those personalization engines need to improve dramatically so that predictive analytics can operate at a higher level. Alternatively, you can just collect the data you need from your consumers.

 

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Edge Computing and Its Impact Change Marketing and Personalization in 2021 and Beyond - CMSwire

Edge Computing and Its Impact Change Marketing and Personalization in 2021 and Beyond - CMSwire | The Marteq Alert | Scoop.it
Customer expectations are higher than ever due to the hyper-personalization they routinely experience with the familiar tech giants. Using traditional approaches, it’s difficult to provide real-time interactions however by combining edge computing with artificial intelligence, brands will be able to provide real-time personalization and access and analyze in-depth customer data and behavior analytics, providing actionable insights for up-to-the-minute personalization.

According to Janakiram MSV, principal analyst at Janakiram & Associates, edge computing and AI are a marriage made in heaven because machine learning and AI are all about real-time decision making. “By moving AI to the edge, the results are delivered much faster. AI models have two phases — training and inference. While training continues to happen in the public cloud, inference — the mechanism of making predictions from unseen data — is moving to the edge.”

He said edge computing is a way to ensure exceptional customer experience extends to the brick-and-mortar world. It brings the level of personalization we see in online shopping to physical shopping. “In a multi-branded store or a mall, edge computing can calculate how much time you spend at each brand’s outlet and provide a recommendation through a contextual online ad. The combination of AR/VR and edge computing is set to revolutionize the consumer experience,” he said.
CYDigital/marteq.ios insight:

However, you cannot do better than extended zero party data as your data source for personalization.

 

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LinkedIn open-sources GDMix, a framework for training AI personalization models - VentureBeat

LinkedIn open-sources GDMix, a framework for training AI personalization models - VentureBeat | The Marteq Alert | Scoop.it
LinkedIn recently open-sourced GDMix, a framework that makes training AI personalization models ostensibly more efficient and less time-consuming. The Microsoft-owned company says it’s an improvement over LinkedIn’s previous release in the space — Photon ML — because it supports deep learning models.

GDMix trains fixed effect and random effect models, two kinds of models used in search personalization and recommender systems. They’re normally challenging to train in isolation, but GDMix accelerates the process by breaking down large models into a global model (fixed effect) and many small models (random effects) and then solving them individually. This divide-and-conquer approach allows for swifter training of models with commodity hardware, according to LinkedIn, thus eliminating the need for specialized processors, memory, and networking equipment.
CYDigital/marteq.ios insight:

If you're building your own, you'll want to investigate.

 

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

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6 Marketing Personalization Challenges That Prevent Scaling - CMSwire

6 Marketing Personalization Challenges That Prevent Scaling - CMSwire | The Marteq Alert | Scoop.it
Personalization is a vital and expected part of today’s customer experience but it doesn’t come without challenges. That said, by using an omnichannel strategy, eliminating silos, collecting data from both first-party and third-party sources while remaining compliant with regulations, and listening to customers, brands can deliver a personalized experience that will keep customers coming back for more.

CYDigital/marteq.ios insight:

Most importantly: collecting data from zero party efforts!

 

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

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