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3 Ways Blockchain Will Revolutionize Marketing in 2020 and Beyond - CMSwire

3 Ways Blockchain Will Revolutionize Marketing in 2020 and Beyond - CMSwire | The MarTech Alert | Scoop.it
1. More Democratic Marketing
Martin believes blockchain gives some power back to consumers that was previously in the hands of social media platforms and other companies that collect consumer data. 

2. More Reliable Marketing
Blockchain can create transparency surrounding where products were sourced or manufactured. 

3. Cheaper Ads
Without the middle man, the cost of digital advertising would be reduced for marketing teams. 
CYDigital/marteq.ios insight:

Blockchain is a means to an end, and not in and of itself the answer to all problems. But it opens up significant opportunities for marketers via applications built using blockchain and its principles.

 

Learn why blockchain is the next step for MarTech and AdTech. Read the white paper: https://www.marteq.io/#7 #martech #marketing

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The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - JDSupra

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - JDSupra | The MarTech Alert | Scoop.it
On June 24, 2020, the New York State Department of Financial Services (DFS) announced a set of policies and proposals to clarify and streamline the regulatory landscape for virtual currency entities doing business within the state. These initiatives all relate to the licensing framework DFS established in June 2015 in anticipation of a proliferation of blockchain technology and virtual currencies, 23 NYCRR Part 200 (the 2015 Licensing Regime). The licensure and compliance requirements imposed by the 2015 Licensing Regime caused the BitLicense — the business license issued by DFS under the 2015 Licensing Regime permitting companies to engage in virtual currency activities — to be viewed as an indication of quality and security. At the same time, the standards and procedures under the 2015 Licensing Regime have been widely criticized as expensive, time-consuming and onerous, and have caused a number of virtual currency business to cease either their operations or plans to operate within New York.

The Self-Certification Policy allows a BitLicensee to create an internal virtual currency-listing policy through which it can self-certify the use of new virtual currencies (in addition to those permitted under the Greenlist Policy) without obtaining case-by-case approval from DFS. Prior to listing new virtual currencies through an internal coin-listing policy, a BitLicensee must obtain DFS approval that the policy meets certain criteria to protect consumer welfare.
CYDigital/marteq.ios insight:

Relevance: regulations are slowly moving into place around the launch and management of cryptocurrencies. This is important as crypto can be used as a basis for rewarding consumers for access to their data. What is not entirely clear is how state-level regulation meshes with SEC guidance.

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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Third-Party Cookies, Reasonable Security Measures at Issue in CCPA Class Action Suits - Law.com

Third-Party Cookies, Reasonable Security Measures at Issue in CCPA Class Action Suits - Law.com | The MarTech Alert | Scoop.it
Dominique Shelton Leipzig, a partner at Perkins Coie in Los Angeles, said presenting a case around third-party cookies collecting data moves away from the intent of the CCPA.

“That is how they’re constructing that fact pattern into what was supposed to be a clear data breach,” Shelton Leipzig said. “The private right of action was supposed to limited to a negligent breach.”

Another issue that in-house counsel will need to pay attention to is how courts determine what it means to reasonably protect consumer data from a data breach.
CYDigital/marteq.ios insight:

Still evolving.

 

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Navigating data privacy - ZDNet

Navigating data privacy - ZDNet | The MarTech Alert | Scoop.it

Articles include:

How to make privacy your company's 'killer app'

 

Survey: Companies struggle to implement data privacy initiatives

 

An in-depth look at how the enterprise is navigating data privacy

 

Data privacy and data security are not the same

 

Personally identifiable information (PII): What it is, how it's used, and how to protect it

 

How new apps protect the health and privacy of employees

 

GDPR two years on: Why there's still work to be done on data protection

CYDigital/marteq.ios insight:

This is compilation of articles focused on the management of data privacy by the enterprise. There's a recurring theme here: the need for applications, infrastructure, people and processes....all leading to additional costs. It does NOT address the notion of giving the consumer control over their own data, which negates the need for many if not all of these resources.

 

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3 overlapping patterns of "no code" martech and the rise of marketing makers - Chief Marketing Technologist Blog

3 overlapping patterns of "no code" martech and the rise of marketing makers - Chief Marketing Technologist Blog | The MarTech Alert | Scoop.it
In looking at a lot of different no code tools — and there are a lot of no code tools out there now — I noticed that many fell into one of three “patterns” of how they worked:

Design & Content (UI) — web and mobile app builders, bot flows, interactive content
Spreadsheets (Data) — if you can use Excel or Google Sheets, you can build an app
Automation (Logic) — workflow and integrations (iPaaS) with event-driven models
CYDigital/marteq.ios insight:

It's more prevalent than you think! And we all use these tools.

 

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When it comes to customer data, they should always willingly opt-in - ClickZ

When it comes to customer data, they should always willingly opt-in - ClickZ | The MarTech Alert | Scoop.it
Maine’s new data privacy law is an essential step to protect customers that should be emulated throughout the country
Customer data fuels the advertising and marketing strategies for most companies, but that doesn’t mean that customers should lose their ability to control their own data
Customers should be able to easily opt-in and opt-out of having their data collected, and also have a clear view of what opting-in means
The end goal of all customer data collection should be to provide an enhanced customer experience that makes customers want to share their data
CYDigital/marteq.ios insight:

Consumers are willing to exchange their data for rewards. This has been shown over and over again. So allowing consumers to collect and control their data relative to your company is the failsafe approach to a deep relationship with the consumer based on trust. Opt-in not necessary!

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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Survey: Barriers prevent data privacy initiatives - TechRepublic

Survey: Barriers prevent data privacy initiatives - TechRepublic | The MarTech Alert | Scoop.it
Of the 186 professionals surveyed in July 2020, 37% said that their company did not have a dedicated privacy team, and 44% said their company's privacy team had one to five employees. Only 6% of respondents claimed 10 or more members on their company's privacy team. 

In terms of the California Consumer Privacy Act (CCPA) requirements, a state statute intended to enhance privacy rights and consumer protection specifically for California residents, 26% of applicable respondents were meeting or in the process of meeting all requirements, 14% were not meeting requirements, and 28% were unsure of their company's compliance. 

A wide range of tools are available to help companies carry out their data privacy initiatives. The majority of respondents are implementing or considering implementation of data backup/recovery solutions (62%). More than half of respondents use or are considering to use endpoint protection (54%), data loss prevention (52%), and encryption software (52%). Close to half of the respondents (48%) use or may use Identity and Access Management (IAM) or (43%) Mobile Device Management (MDM). Other tools being used or considered consist of compliance software (30%), Customer Data Management (CDM) platforms (19%), and consent management applications (16%). 
CYDigital/marteq.ios insight:

Data protection and data privacy are two different topics. Regardless, companies are still woefully short in their efforts to protect the consumer's data privacy. More info when you click-through.

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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Twitter under FTC investigation for alleged misuse of user data - CNET

Twitter under FTC investigation for alleged misuse of user data - CNET | The MarTech Alert | Scoop.it
The investigation apparently relates to a revelation Twitter made last year in which it informed users that had recently discovered that users' email addresses and phone numbers meant to be used for security reasons "may have inadvertently been used for advertising purposes." 

That information is supposed to be used solely for account protection purposes, but Twitter said advertisers were able to tap the phone numbers to target commercials, through the company's "Tailored Audiences" and "Partner Audiences advertising system. 
CYDigital/marteq.ios insight:

A potential $250MM fine. 

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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The new imperative for corporate data responsibility - KPMG

The new imperative for corporate data responsibility - KPMG | The MarTech Alert | Scoop.it
Consumers believe data privacy is a human right. Corporations need to raise their game. Consumers are becoming increasingly concerned with, and distrustful of, how companies safeguard their personal data against misuse and theft. Companies must take steps now to keep pace with expectations—or risk losing access to the data that increasingly drives strategy, insights and success.

To learn more about how consumers are thinking about data privacy and what they expect from corporations, KPMG surveyed 1,000 Americans. The survey reveals that consumers overwhelmingly agree that data privacy is important, and that they want corporations to take significant steps to better protect, manage and ethically use their data in 2020.
CYDigital/marteq.ios insight:

Yet another datapoint in a long line of datapoints that reveal the consumer's attitude towards data privacy. And the best way to approach this challenge is to give the consumer the ability to capture, own and control all of their data relative to your brand. The full report is available at https://advisory.kpmg.us/articles/2020/new-imperative-corporate-data-responsibility.html

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

 

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Magic Quadrant for Sales Force Automation - Gartner

Magic Quadrant for Sales Force Automation - Gartner | The MarTech Alert | Scoop.it

SugarCRM is offering the report behind a reg form. Go here: https://www.sugarcrm.com/resources/gartner-magic-quadrant-for-sales-force-automation/

CYDigital/marteq.ios insight:

SugarCRM is offering the report behind a reg form. Go here: https://www.sugarcrm.com/resources/gartner-magic-quadrant-for-sales-force-automation/

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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Digital Identity as an Investment | by Justine Humenansky, CFA

Digital Identity as an Investment | by Justine Humenansky, CFA | The MarTech Alert | Scoop.it
The direct identity opportunity set remains limited to 300–500 startups and it’s difficult to make the case that there are deep exit opportunities as the list of potential buyers is limited. Identity solutions face very high minimum scale requirements and, therefore, identity startups must create or connect to a platform of some sort to generate real utility (ie. Okta has +6,500 integrations.) Thus, IPO opportunities for standalone entities also seem limited.
Identity startups face real barriers to entry (regulatory, compliance, and trust challenges at par with FinTech.) They also have to compete with platforms like Microsoft/Salesforce, which may ultimately become the dominant purveyor(s) of digital identity. Partnering with consortia may be a way for startups to “bootstrap” scale and compete against these established platforms, and some are employing this strategy. 

Foundational identity efforts are better suited to grant or impact funding. The Omidyar Network, the Gates Foundation, and the Mozilla Foundation all invest in foundational DID. Functional identity isn’t viewed as a category of it’s own, so it’s hard to find venture investors that focus specifically on identity.
CYDigital/marteq.ios insight:

An excellent primer on DID.

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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What’s Next for US Data Privacy Regulation – Adweek

What’s Next for US Data Privacy Regulation – Adweek | The MarTech Alert | Scoop.it
“There’s real justified concern for that 79% of Americans who are looking at the landscape and seeing what is a fragmented regulatory structure,” said Chris D’Angelo, chief deputy attorney general for economic justice at the New York attorney general’s office. “There’s no question that as a country we would be better off with federal legislation that laid the foundation for what our privacy expectations are.”

As far as what role that federal legislation should play, D’Angelo said he disagreed with other NexTech panelists on how much states can do in the meantime, or to bolster federal regulations after they’re established. “I think there’s certainly room for states to go above and beyond whatever federal floor is set,” he said.
CYDigital/marteq.ios insight:

Consider the prospective nightmare of adhering to 50 different state data privacy guidelines. Don't throw software at the problem. Give the consumers ownership!

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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Data Privacy Software Market Next Big Thing | Major Giants

Data Privacy Software Market Next Big Thing | Major Giants | The MarTech Alert | Scoop.it
Data privacy software is a software that allows the companies or users to save important data and protect against the security threats in compliance with the standards. It manages all the data privacy programs which includes the reverting back to consumers regarding the issues, it also helps the other business operators to manage their data to work together on data access, deletion, or transfer of data.
CYDigital/marteq.ios insight:

The point behind this snippet: legislation and regulation has permitted the creation of a sub-segment marketing to B2C and B2B companies...and it's not necessary. The smart approach is to give your consumers ownership of their data, give them control, and ask permission to access it in exchange for a reward. And a majority of consumers will allow that access. 

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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MarTech Insider Anand Thaker: Marketing Not Aimed at Building Real Relationships with Customers? Cut It. - Small Business Trends

MarTech Insider Anand Thaker: Marketing Not Aimed at Building Real Relationships with Customers? Cut It. - Small Business Trends | The MarTech Alert | Scoop.it
One of the first things is marketing, yes or no? That’s not the right question to ask. That correct question is, is the marketing efforts or spend that you have, are they engaged in building a relationship with a customer? If it’s not part of the journey or if they’re not responsible for the entire journey back into the business operations of the company, then yeah, maybe need to consider cutting it, because it’s an expensive spend and you’re basically competing … You’re selling against yourself. You spend a dollar, someone spends 105, then you got to spend 110, then they spend more and then you have to spend more, but if your marketing spend is basically driven on developing a deeper relationship, meaning you are training your staff, frontline staff perhaps, at a retail store, on developing better experiences, or you’re working on the digital journey for how people buy, or trying to come up with different ways to help your customers make a decision, or help them, say, like in a fintech world, like you have some sort of financial services option, you’re trying to help them be better financial … financially savvy.
CYDigital/marteq.ios insight:

It's guidance that's applicable to B2C and B2B. And building relationships is all about the degree of personalization applied. But here's the catch: weak personalization can be sniffed out and seen as phony, and will work against the marketer. Marketers...brands, agencies, retailers...need a robust personalization solution.

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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Most consumers believe government regulation should help address privacy risks - Help Net Security

Most consumers believe government regulation should help address privacy risks - Help Net Security | The MarTech Alert | Scoop.it
The research points to a privacy gap between the consumer data protection individuals want and what industry and regulators provide. While the majority of consumers want their data protected, they’re still waiting on — or expecting – the federal government or industries to provide this protection.

For instance, 60% of consumers believe government regulation should help address the privacy risks facing consumers today, of which 34% say government regulation is needed to protect personal privacy and 26% believe a hybrid option (regulation and self-regulation) should be pursued.
CYDigital/marteq.ios insight:

More stats when you click through, but the bottom line for B2C and B2B companies: get ahead of legislation.

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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How well-prepared are marketers for the impact of the third-party cookie crackdown? – eConsultancy

How well-prepared are marketers for the impact of the third-party cookie crackdown? – eConsultancy | The MarTech Alert | Scoop.it
And yet in Econsultancy’s survey of more than 800 marketers that informed the Future of Marketing Report, just 36% of marketers stated that they had a good understanding of the third-party cookie crackdown.

Almost half (43%) see themselves as not having a good understanding, while the remaining 21% do not know enough – or do not believe it applies to them.
CYDigital/marteq.ios insight:

Eerily similar to the advent of GDPR: many marketers were just not prepared, and got caught. Loss of 3rd party cookies changes so much, and impacts all parts of your digital initiatives. First step: an audit!

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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How to get consumers to say ‘I do’ to sharing data - Inside FMCG

How to get consumers to say ‘I do’ to sharing data - Inside FMCG | The MarTech Alert | Scoop.it
So how should brands go about collecting ‘zero-party’ data? It starts with establishing what type of information you need from the consumer and why.

“Consumers want to know why you’re engaging with them; consent is really important. Secondly, they want to know what data you want. If you don’t explain why, there’s no reason why the consumer will give you their data,” Loizou explains.

Critically, consumers need to understand what’s in it for them.

“We call it the ‘value exchange’. The first thing a customer is asking themselves is ‘’what’s in it for me? There has to be some form of exclusivity, some form of gamification or interactivity. Consumers are receiving something — a discount, an experience, exclusive access, a giveaway, etc. — in exchange for their data.”
CYDigital/marteq.ios insight:

Show value, e.g., a reward, and consumers will share data. Studies prove this to be the case.

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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Here's an alternative to cookies for user tracking - MarTech Today

Here's an alternative to cookies for user tracking - MarTech Today | The MarTech Alert | Scoop.it
If your website or mobile application requires the creation of user accounts and logins, it’s time to plan to transition away from cookie-based tracking to user ID tracking. In simple terms, instead of having your analytics toolset read a cookie, you pass a unique identifier associated with the user ID and then track the user via this identifier. Typically the identifier is the login ID.

CYDigital/marteq.ios insight:

Should you have a site registration schema, this may be an alternative.

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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U.S. digital ad revenue stalls after a record haul of $125 billion in 2019: IAB Report | Ad Age

U.S. digital ad revenue stalls after a record haul of $125 billion in 2019: IAB Report | Ad Age | The MarTech Alert | Scoop.it
U.S. digital ad revenue grew to a record-breaking $125 billion in 2019, up 16 percent over the previous year, according to the Interactive Advertising Bureau’s twice-yearly report prepared by PwC.

Many fear that in 2020 the impact from a “perfect storm” of circumstances—the coronavirus pandemic, economic recession, the demise of third-party cookies and increased consumer privacy regulation—may lead to the first decline seen in U.S. digital ad revenue for more than a decade.

The IAB coupled its annual report with revenue figures for the first quarter of 2020, which showed 12 percent growth year on year, or about $31 billion. March, however, was “sharply impacted” by the coronavirus, the IAB says.

“The first quarter of 2020 revenues mark the slowest year-over-year quarter growth since 2010, when revenues increased 8.6 percent from the prior year,” according to the report. “Many companies are expecting a continuing negative impact to the second quarter and significant uncertainty as to the severity and duration to the quarters beyond.”
CYDigital/marteq.ios insight:

Inevitable and accelerated by the factors mentioned.

 

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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Unlock the Hidden Value of Your Data - HBR

Unlock the Hidden Value of Your Data - HBR | The MarTech Alert | Scoop.it
I outline four steps that could help organizations maximize their data assets for public good:
1) Develop methodologies to measure the value of data.
2) Develop structures to incentivize collaboration. 
3) Encourage data collaboratives. Data collaboratives are an emerging form of public-private partnership that enable sharing and co-creation of value. Data sharing must not become a vehicle for privacy violations or other risks to individual rights. Building trust is essential to fostering the benefits of sharing; it is therefore critical that strong privacy protections (e.g., in the form of anonymized, aggregated data) are built into the structure and governance of data collaboratives.
4) Identify and nurture data stewards. Data stewards are individuals or teams tasked with proactively initiating, facilitating, and coordinating sharing across organizations and sectors, with the goal of maximizing both the private monetary and public value of data assets. 
CYDigital/marteq.ios insight:

We strongly recommend a data collaborative with consumers, where they are the data stewards of their own 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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SEC Commissioner Sees Increasing Demand for Cryptocurrency | Regulation - Bitcoin.com

SEC Commissioner Sees Increasing Demand for Cryptocurrency | Regulation - Bitcoin.com | The MarTech Alert | Scoop.it
Crypto-friendly commissioner with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, said there is an increase in demand for cryptocurrency as investors seek to diversify their portfolios. The commissioner has been an avid proponent of the SEC approving bitcoin exchange-traded funds (ETFs).

We’re seeing more interest coming from institutional quarters than we have in the past. I think that will continue … as people are looking to diversify their portfolios, I think people are also likely to look more to the crypto space.‏‏‎

She elaborated, “As people are more comfortable working in a virtual world in every industry now, I think people are likely to turn more interest to the crypto space.” Peirce previously said even before the coronavirus pandemic that one major advantage of the cryptocurrency industry was that it brings together people from across the world and helps them work together virtually. Industry participants don’t have to be in the same place to be working together.
CYDigital/marteq.ios insight:

There continues to be a softening in the stance. But movement continues to be glacier-slow.

 

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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Kin launches ad network to help generate demand for its cryptocurrency - BetaKit

Kin launches ad network to help generate demand for its cryptocurrency - BetaKit | The MarTech Alert | Scoop.it
Digital cryptocurrency ecosystem Kin, an organization started by Kik, has launched an independent ad network that allows consumers to earn Kin in exchange for viewing advertisements.

The network would appear to operate as a form of incentivized advertising, a format currently used by many mobile entertainment apps, such as CandyCrush. Kin’s program allows app developers to reward users for viewing ads and create more impressions and awareness for advertisers. Kin said the goal is that this system would generate “real consumer and advertiser demand” for its cryptocurrency.

Over 5.5 million users are earning Kin each month across more than 50 apps, the cryptocurrency has achieved a level of scale that is attractive to advertisers.
CYDigital/marteq.ios insight:

Another proof point that cryptocurrency is a completely valid means to reward consumers.

 

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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Opinion: Why direct-to-consumer content is the next big influencer trend | Ad Age

Opinion: Why direct-to-consumer content is the next big influencer trend | Ad Age | The MarTech Alert | Scoop.it
And as brands cut back on spending and affiliate programs like Amazon cut commission rates, content creators are increasingly using subscription sites as part of a new revenue model: direct-to-consumer.

D-to-c influencer content bills at a small rate compared to the typical brand partnership, but creators with truly engaged fan bases are positioned to make bank. This also means that the days of buying fans may be limited; what good is a large audience of bots who won’t buy your work?

Influencers are in some ways defined by their relationship to brands, to a point where aspiring influencers will tag brands just for clout. But while the d-to-c trend is emerging, it could lead to an eventual shift away from a reliance on brand relationships.
CYDigital/marteq.ios insight:

The purchase of followers was always a panacea. 

 

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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Bluecore raises $50M for its first-party, AI-based marketing automation tools - TechCrunch

Bluecore raises $50M for its first-party, AI-based marketing automation tools - TechCrunch | The MarTech Alert | Scoop.it
As more online brands look for ways to move beyond third-party cookies as a way of gaining more direct insights about their users and customers, a startup that has developed a platform to help them has raised a big round of funding. Bluecore, a marketing technology firm that uses data gained from direct marketing like email, social media, site activity and combines that with machine learning to make better predictions about who might want to buy what among its customers, is today announcing that it has raised $50 million.

The funding will be used to build the next generation of the Bluecore platform, expected later this year, which will tap into aggregated engagement data (but not actual browsing individuals) from “hundreds” of brands, which customers can combine with their own first-party data — based on consent-based, first-party customer IDs — to develop better targeting insights.
CYDigital/marteq.ios insight:

The sooner we all agree to move beyond cookies, the better.

 

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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Facebook Ad Rates Fall as Coronavirus Undermines Spending - WSJ

Facebook Ad Rates Fall as Coronavirus Undermines Spending - WSJ | The MarTech Alert | Scoop.it
Prices in Facebook’s ad auctions nonetheless plunged between February and March, according to executives at several companies that do business on the platform. The cost to put an ad in front of Facebook users 1,000 times in March dropped 15% to 20% from February, according to a recent analysis by one advertising holding company’s buying group.

The decline was 20% at 4C Insights Inc., a marketing technology company that helped brands manage $350 million in ad spending across major tech platforms including Facebook, Instagram and Twitter Inc. from January to March.

While prices were down, total ad spending on Facebook and Instagram through 4C was up 2% in March compared with February, Mr. Goldman added. Absent the pandemic, he said he would have expected month-to-month growth of at least 10%.

Facebook isn’t alone: The cost of 1,000 impressions fell 22% on Facebook sibling Instagram from February to March, Mr. Goldman said. YouTube, part of Alphabet Inc.’s Google, also saw a 15% to 20% drop in prices from February to March, according to the ad-holding buying group.
CYDigital/marteq.ios insight:

But spending continues to increase.

 

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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Why Smart Companies Are Giving Customers More Data Sloan Management Review

Why Smart Companies Are Giving Customers More Data Sloan Management Review | The MarTech Alert | Scoop.it

"Companies are data wrapping when they give data and analytics to customers as product features and customer experiences — such as spend categorizers, automatic sound optimizers, and shopper insights — with the goal of increasing a product’s value proposition. There are four key characteristics that make data wrapping distinctive:

  • The data analytics “users” are a company’s customers, not employees.
  • Product owners, not IT, lead the product road map because analytics must be developed as a part of the product’s overall feature and experience portfolio.
  • Economic returns result from a lift in sales, not from an internal business process improvement.
  • It’s risky; unless companies deliver accurate, valued data wrapping, they could confuse, irritate, offend, or drive away the customers they serve.


In a 2018 survey of 511 product managers by the MIT Center for Information Systems Research (CISR), 85% reported they were developing data analytics-based features or had deployed features to the marketplace. The research indicates that companies that get data wrapping right follow three steps that keep their efforts on track."

CYDigital/marteq.ios insight:

Data analytics as a competitive advantage.

 

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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