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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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The Value of Data From a Consumer Perspective - Security Boulevard

The Value of Data From a Consumer Perspective - Security Boulevard | The MarTech Alert | Scoop.it
A new consensus is emerging about the value of data. It carries immense potential in supporting analytics, personalization and other imperatives. Today’s consumers, especially younger individuals, increasingly expect products and services tailored to their needs. One survey found that 70% of customers say understanding how they use products and services is very important to winning their business. In fact, data is becoming so important that in many ways it can be considered an emerging currency.

As new data privacy laws emerge and people become more aware about the use and value of their data, the responsibilities of data collectors are increasing. Fundamental to the value of data is maintaining its security and integrity. Implementing proactive security measures such as public key infrastructure (PKI) can be a crucial foundation to safeguard data. PKI uses digital certificates to encrypt data in transit; authenticate devices to users, servers and other devices; and ensure that only authorized and signed code runs on the device to prevent malware and other attacks. PKI helps identify users and their devices to provide important protection.

Looking beyond technology, transparency is another key responsibility. Consumers must remain informed and demand greater transparency into how their data is being used. Businesses and manufacturers should build security and transparent collection of data into their practices. At the same time, companies should inform their customers of the processes used to keep them safe. Together, businesses and the consumers they serve can succeed in protecting the confidentiality and integrity of data, as it becomes more valuable in our dynamic, data-driven world.
CYDigital/marteq.ios insight:
  1. Give consumers the means to own their data*
  2. Exchange digital rewards with consumers to access their data
  3. Win their business

 

Simple. 

 

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

 

*We have the solution.

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Less Is More: Dealing With 2020's Marketing Budget Challenges - CMSwire

Less Is More: Dealing With 2020's Marketing Budget Challenges - CMSwire | The MarTech Alert | Scoop.it
If your budget has already been cut, it’s important that you do all you can to protect against further cuts by justifying the value of marketing investments to the enterprise, and squeezing the most value from the remaining budget you have. In fact, even if your budget has not been cut, these are essential steps to take, minimizing the threat of potential future cuts and maximizing value. 

This is the essence of marketing cost optimization. While the natural response to budget cuts may be to slice away at budget line items, Gartner recommends a programmatic approach, which looks at optimizing all elements across marketing’s operational mix: labor, agencies, technology and channels. To do this, CMOs need to answer three fundamental questions:

How do I prove the value of the marketing investments I need to protect?
How do I identify the costs I can afford to cut?
How do I optimize marketing costs to drive greater ROI? 
CYDigital/marteq.ios insight:

From the author of the August Gartner report.

 

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

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How Gather is Democratizing the Internet With Decentralized Incentivization - Influencive

How Gather is Democratizing the Internet With Decentralized Incentivization - Influencive | The MarTech Alert | Scoop.it
Thanks to blockchain and distributed technology, it is now possible to financially reward viewers for visiting websites and using applications. By opting in to Gather’s hardware layer, visitors can loan their spare computing power whilst on the website/app. As the user spends time on the website/app, value is generated through the network’s application layer, with payouts in Bitcoin, GTH or local fiat currency.

The powerful effect of this tangible level of incentivization cannot be overstated. By simply visiting a website or using an app, opting-in, and reading or viewing content, the reader is compensated with money. Not points. Not e-books. Cold, hard (digital) cash. It gets better. The more time you spend relaxing and reading your favorite Gather-compatible websites, the more money you make.
CYDigital/marteq.ios insight:

Add to this your own loyalty program using your own digital rewards system. It's a powerful value prop.

 

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

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Demand Spring Releases Results of Marketing Technology Survey - MarTech Series

Demand Spring Releases Results of Marketing Technology Survey - MarTech Series | The MarTech Alert | Scoop.it
Based on responses from marketing professionals, the survey uncovered a number of key findings, including:

67% of marketers have been negatively impacted by the pandemic

36% of marketers have experienced cuts to their martech budget

24% of organizations cancelled martech subscriptions deeming them ‘non-essential’

One of the most interesting findings relates to additional martech investment, with 43% of organizations indicating that they have added new tools to their martech stack. Reasons for these additional investments include supporting business growth, supporting a shift to digital marketing, transitioning to an online business model, and managing new demands for services.
CYDigital/marteq.ios insight:

Very much in alignment with the recent Gartner survey results.

 

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

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A Guide to B2B Lead Qualification | MarketingProfs

A Guide to B2B Lead Qualification | MarketingProfs | The MarTech Alert | Scoop.it
CYDigital/marteq.ios insight:

Courtesy of Spiralytics.

 

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70 Percent of Consumers say They Will Exclusively Shop with Brands that Personally Understand Them this Holiday Season - MarTech Series

70 Percent of Consumers say They Will Exclusively Shop with Brands that Personally Understand Them this Holiday Season - MarTech Series | The MarTech Alert | Scoop.it
Shoppers are going increasingly digital and their expectations around personalization are also increasing. Personalization motivates purchases with nearly half (49 percent) saying they will be more likely to purchase from retailers who send personalized content and/or offers this holiday season. Receipt of irrelevant offers is for the second year in this survey, a top consumer frustration. Today’s consumer sees being understood by a brand as table stakes. In the survey, 82 percent of respondents expect that retailers will be able to accommodate preferences and expectations.

Brands that can get personalization right will be rewarded, with consumers highly likely (70 percent) to purchase exclusively from brands that show they understand them. Two-thirds of respondents say they want retailers to make the personalization consistent and frictionless, no matter the channel. They want the same understanding from a company whether shopping on a website, in-store, via a mobile app, or reaching a call center.
CYDigital/marteq.ios insight:

Here's a thought: give consumers complete control over their data, including providing them with a means to capture their data, then ask their permission to access it in exchange for a digital reward. Can't get any more personalized than that.

 

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

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Two New Guidelines by the EDPB: Targeting of Social Media Users and the Concepts of Controllers and Processors - Lexology

Two New Guidelines by the EDPB: Targeting of Social Media Users and the Concepts of Controllers and Processors - Lexology | The MarTech Alert | Scoop.it
The new guidelines on targeting of social media analyses the various actors which are involved in targeting, which are divided to four categories: social media providers, social media users, targeters and other actors, such as data brokers and ad exchanges, which may be involved in the targeting process.

The main purpose of the guidelines is to clarify the roles and responsibilities of the social media providers and the targeters. In many cases both parties would be defined as joint controllers. The importance of correctly identifying these roles and responsibilities has been emphasized in judgements of the European Union's Court of Justice.

Three different mechanisms of targeting are addressed by the guidelines. The first is targeting on the basis of data provided by the user. The second mechanism is targeting based on the basis of observed data, which includes data that is provided by the user through the use of a service or device, or data that is collected by third parties. This category includes the use of technical measures such as pixels. The third mechanism is targeting based on inferred data. Profiling is typically involved in this mechanism, and assessment of automated decision making must be conducted to define whether it leads to legal or similarly significant effects.
CYDigital/marteq.ios insight:

GDPR constantly evolving. Note what's happening, and you have to assume the same will occur stateside.

 

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Three Ways Marketers Apply Automation for SEO - MarTech Cube

Three Ways Marketers Apply Automation for SEO - MarTech Cube | The MarTech Alert | Scoop.it
SEO nowadays is all data driven, therefore there is no single strategy that works, SEO experts often rely on all of the above to save valuable time: web scraping, keyword research, and monitoring results can be easier with the help of SEO tools and bots.

CYDigital/marteq.ios insight:

Most likely your outside or in-house provider are using such tools. But if not...

 

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Gartner : Survey Reveals 66% of Marketers Now Have a Centralized Marketing Organizational Structure | MarketScreener

Gartner : Survey Reveals 66% of Marketers Now Have a Centralized Marketing Organizational Structure | MarketScreener | The MarTech Alert | Scoop.it
Despite years of mounting pressure within many marketing organizations between centralizing or decentralizing resources, a rapidly growing number of marketing leaders now prefer the centralized approach, according to Gartner, Inc. In fact, the Gartner Marketing Organization Survey 2020 of over 400 marketing leaders shows that nearly two-thirds of marketing teams are either fully or primarily centralized.

Resources that may have been decentralized to regions or other organizational entities are also being consolidated and centralized. This is consistent with findings from the CMO Spend Survey 2020 that show 79% of CMOs are no longer looking to new products and services, but rather existing markets to fuel future growth during the COVID-19 pandemic.

This reallocation of resources is contributing to fully centralized models where all marketing staff operate as a centralized entity or primarily centralized models where most marketing staff are centralized with limited staff distributed to regions or business units. Gartner research also shows that marketing organizations with a marketing operations leader are more likely to have a fully centralized structure (35%) versus those without a marketing operations leader (23%).
CYDigital/marteq.ios insight:

This should not be a surprise to any of us: martech is centralized, thus form follows function. 

 

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Gartner Says By 2023, 65% of the World’s Population Will Have Its Personal Data Covered Under Modern Privacy Regulations - Webwire

Gartner Says By 2023, 65% of the World’s Population Will Have Its Personal Data Covered Under Modern Privacy Regulations - Webwire | The MarTech Alert | Scoop.it
By 2023, 65% of the world’s population will have its personal data covered under modern privacy regulations, up from 10% in 2020, according to Gartner, Inc. “Security and risk management (SRM) leaders need to help their organization adapt their personal data handling practices without exposing the business to loss through fines or reputational damages.”

SRM leaders should adopt key capabilities that support increasing volume, variety and velocity of personal data by putting in place a three-stage technology-enabled privacy program: establish, maintain and evolve.

The establish stage includes foundational capabilities of a privacy management program. The maintain stage allows organizations to scale their privacy management programs. The evolve stage includes specialist tools that focus on reducing privacy risk with little or no impact on the data utility. 
CYDigital/marteq.ios insight:

This does not need to be complicated: implement a system where your consumers own their data.

 

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The ultimate brand guide to helping consumers achieve data harmony - ClickZ

The ultimate brand guide to helping consumers achieve data harmony - ClickZ | The MarTech Alert | Scoop.it
Currently, consumers feel duped or intentionally kept in the dark by companies who use their data: 89% of US consumers think companies are deliberately vague about how the “data for benefit” exchange really works, according to 2019 findings from Wunderman Thompson Data.

Consumers are clamoring for agency over how their info used—and part of that agency includes an assessment of their data’s worth. This is spurring a new value exchange—one that operates with data as the primary currency.

As the data economy develops, brands will need to give consumers a clear and fair appraisal of their info.
CYDigital/marteq.ios insight:

It's an easy proposition: give consumers control over their data, then bid on accessing their data. There's a market ready to be exploited while preserving data privacy.

 

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Apple IDFA consent: Roughly 60% of consumers open to persuasion to allow tracking - MarTech Today

Apple IDFA consent: Roughly 60% of consumers open to persuasion to allow tracking - MarTech Today | The MarTech Alert | Scoop.it
Apple delayed one of iOS 14’s most controversial new privacy features: consumer opt-in permission to track. The rule requires explicit apps to get consent from consumers to access the device’s Identifier for Advertisers (IDFA) and transmit data to third parties. Apple announced in a blog post that it was delaying enforcement of opt-in tracking consent until next year “to give developers time to make necessary changes.”

iPhone owners were asked, “If a mobile app asks to share your data with advertisers, such as location or device ID, would you agree?” Just under a quarter of respondents (23%) said yes; 39% said no and 38% said “I would need more information.”
CYDigital/marteq.ios insight:

Incentives will sway that close to 40% who are unsure about sharing their data. That's how you get to a total of 60%.

 

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Focus on Managing Capabilities Over Managing Agencies - Which-50

Focus on Managing Capabilities Over Managing Agencies - Which-50 | The MarTech Alert | Scoop.it

One of the biggest pieces of advice we give to clients when assessing their agency portfolios is to shift their focus from managing agencies to managing the capabilities that they need their agencies to provide. Rather than inventory agencies and the capabilities they offer, inventory the full list of capabilities you need to deliver your marketing strategy, and identify which agencies are responsible for delivering what.

From an optimization standpoint, this exercise will help identify zones of overlap where multiple agencies may be delivering to the same capability. One area where there is often redundancy is in defining your overall marketing strategy, with each agency defining the target audience, competitive landscape and strategic goals from the point of view of their specific expertise. Focusing on capabilities can also help you identify opportunities to consolidate. If an agency is delivering a single capability that could be covered just as well by another agency in your roster, consider streamlining the number of agencies you must manage and support.

CYDigital/marteq.ios insight:

During a recent webinar, I mentioned that marketers may want to take a step back and deconstruct and reconstruct their stack around where the consumer and the market is heading. This applies to agencies as well, pursuant to this article.

 

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Facebook suspends plan to stop collecting Apple's advertising ID on iPhones | Ad Age

Facebook suspends plan to stop collecting Apple's advertising ID on iPhones | Ad Age | The MarTech Alert | Scoop.it
Social network says its mobile ad network is safe, for now, as Apple holds off on privacy update.
CYDigital/marteq.ios insight:

FYI.

 

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Top Trends in the Blockchain Industry for 2020 – Blockchain News

Top Trends in the Blockchain Industry for 2020 – Blockchain News | The MarTech Alert | Scoop.it
#1 Rise in Federated Blockchains
#2 Blockchain as a service (BaaS)
#3 Blockchain will transform Social Media
#4 Stablecoins gain visibility
#5 Blockchain with AI and IoT
CYDigital/marteq.ios insight:

Marketers need to start to pay attention to blockchain. Notes #3, where blockchain can remedy the many problems with social media.

 

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New Podcast Survey Reveals Lift Rates are up to 30X Higher - MarTech Series

New Podcast Survey Reveals Lift Rates are up to 30X Higher - MarTech Series | The MarTech Alert | Scoop.it
Leading data science company Claritas has released a new report entitled “Podcast Campaign Lift: A Guide to Accurately Analyzing Campaign Conversion Rates.” The report provides new insight into the return on investment (ROI) provided by podcast campaigns. It also shares how marketers can more accurately measure ROI on any marketing campaign.

Claritas set out to answer the question: “How well are podcast campaigns actually contributing to incremental engagements and/or conversions?”

To answer this question, Claritas analyzed 834 million podcast impressions that spanned across 158 campaigns over 36 months and multiple industries. The results were compelling: Lift rates in many key industries – including automotive, insurance, consumer goods, telecommunications and retail – ranged from 23.5% to 79%. That’s up to 30 times higher than the average lift rates for non-podcast channels such as digital display, print and linear TV, which average around 2.6%.
CYDigital/marteq.ios insight:

Compelling data pointing to podcasts as a supporting tactic.

 

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23 Best Customer Journey Mapping Software in 2020 - TechFunnel

Customer journey mapping software helps to streamline strategic business planning. This allows companies to create a plot of client locations onto visual maps and align those resources accordingly. When mapping customers, companies can help identify areas of opportunity for revenue as well as growth.

CYDigital/marteq.ios insight:

Comprehensive list that includes a common eval rubric.

 

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Clients pitching in-house agencies against external admit to assessment by different KPIs - Marketing Interactive

Clients pitching in-house agencies against external admit to assessment by different KPIs - Marketing Interactive | The MarTech Alert | Scoop.it
Based on responses from 53 advertisers with an approximate annual global spend of US$83 billion, the study found that three out of four in-house agencies have been set up in the last five years. It is also added that in-house teams are attracting more work, with 82% saying workloads are increasing in the last year.

Respondents said that moving creative work in-house delivers cost efficiencies (greater than 30% in some instances), with 64% citing better integration and 59% citing increased brand and business knowledge as other benefits. Additionally, 55% of respondents also reported that in-house teams had quicker and more agile processes. 

The overall satisfaction is high when it comes to in-house teams, with 82% of respondents stating that they are either satisfied or completely satisfied with the output of their in-house teams. The top KPI used to assess the effectiveness of in-house agencies was quality of output (81%), followed by cost savings (52%) and speed to market (38%).
CYDigital/marteq.ios insight:

And Covid-19 has only accelerated matters.

 

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Cheetah Digital Announces Signals 2020

Cheetah Digital Announces Signals 2020 | The MarTech Alert | Scoop.it
Cheetah Digital, a cross-channel customer engagement solution provider for the modern marketer, today announces Signals 2020, a nine-week virtual conference featuring industry leaders, panel discussions, interviews, product launches, demos and more. The virtual conference begins September 15 and concludes November 12. 

In a variety of formats, sessions will explore how markets can accelerate their digital transformation in this rapidly changing world. The conference will deliver relevant and insightful keynotes and breakout sessions from leading brands and top minds in the marketing industry on five tracks: digital transformation kick-off, data acquisition and enrichment, data-driven engagement, omnichannel loyalty, and personalization.

"The tactics and strategies necessary for developing loyal customers have changed, meaning marketers must be more data-driven than ever," said Cheetah Digital CMO, Richard Jones."
CYDigital/marteq.ios insight:

A part of Cheetah's business is zero party data, so this is of great interest. The price is right. And don't forget about the MarTech Conference, which is also a free virtual event.

 

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Coca-Cola's support of crypto payments firm shows how far we've come - Calvin Ayre

Coca-Cola's support of crypto payments firm shows how far we've come - Calvin Ayre | The MarTech Alert | Scoop.it
As far as the soft drink industry goes, Coca-Cola is still king. According to Statista, it controls 43.3% of the market, well above second-place PepsiCo, which has 24.9%. With that much control, Coca-Cola knows how to best utilize its resources and plan for the future, and it apparently sees a lot of possibilities for what cryptocurrency will bring to consumers. Through its corporate venture investment arm, Amatil X, Coca-Cola has invested in a crypto payment provider, and this is going to set the stage for how digital currency is accepted as an alternative to fiat by everything from vending machines to retail stores. 
CYDigital/marteq.ios insight:

This should wake up the neighborhood regarding the acceptance of crypto.

 

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What Is the Worst Type of Online Privacy Policy … and Why Does it Matter? | Davis Wright Tremaine LLP - JDSupra

What Is the Worst Type of Online Privacy Policy … and Why Does it Matter? | Davis Wright Tremaine LLP - JDSupra | The MarTech Alert | Scoop.it
The number one worst type of online privacy policy is one that a startup copies and pastes from another online service. Does this really happen? Yes – all the time. Imitation may be the sincerest form of flattery, but some copiers are so egregious that they do not carefully check and remove the references to the other company before posting it to their website.

The biggest problem—and why you should care—about copying someone else's privacy policy is that the commitments and representations made in your privacy policy create a legally enforceable obligation for your company. If the policy you copied says something that you didn't intend or doesn't match with your actual practices, then your startup could still be on the hook for those commitments.
CYDigital/marteq.ios insight:

Look, we all do it, i.e., copy policies, NDAs, etc. But this one is troublesome, as you're on the hook for any failures to adhere to the policy, and with that comes fines.

 

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5 work habit changes to prove CMO value quickly - MarTech Cube

5 work habit changes to prove CMO value quickly - MarTech Cube | The MarTech Alert | Scoop.it
Align Marketing to Organizational Goals
Say No to Non-Value Adding Work
Value Outcomes Over Outputs
Embrace Minimum Viable Campaigns
Set Clear Goals and Let Your Teams Crush Them
CYDigital/marteq.ios insight:

Love the idea of minimum viable campaigns, although the costs for creative may often make it unrealistic. And nary of word on agile marketing!

 

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When CDPs Fail: Insights from the CDP Institute Survey | CustomerThink

When CDPs Fail: Insights from the CDP Institute Survey | CustomerThink | The MarTech Alert | Scoop.it
Where things got really interesting was a closer look at the relationship of customer data architectures to CDP status. You might think that pretty much everyone with a deployed CDP would have a unified customer database – after all, that’s the basic definition of a CDP and the numbers from the two questions are very close. But it turns out that just 43% of the respondents who said they had a deployed CDP also said they had a unified database (15% with the database alone and 28% with a database and shared orchestration engine). What’s going on here? 

The obvious answer is that people don’t understand what a CDP really is. Certainly we’ve heard that complaint many times. But these are CDP Institute members – a group that we know are generally smarter and better looking and, more to the point, should understand CDP accurately even if no one else does. Sure enough, when we look at the capabilities that people with a deployed CDP say they expect from a CDP, the rankings are virtually identical whether or not they report they have a unified database. 
CYDigital/marteq.ios insight:

CDP exists because the functionality is not available in CRM/MAP, and should be. The report is here: https://lp.cdpinstitute.venntive.com/DL2207-CDPI-Member-Survey-2020

 

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Study suggests contextual ads are more cost-efficient than behavioral advertising | Ad Age

A new study from GumGum sought to answer the question, and worked Dentsu Aegis and brands such as Sephora to find out.

 

Contextual targeting was more efficient than behavioral targeting in cost-per-click (CPC); cost-per-viewable impression (vCPM); and the cost associated with reaching the intended demographic of the brand (eCPM), according to the study; “CPM” refers to the cost of showing an ad a thousand times.

 

Specifically, the average CPC cost was $.80, while CPCs for behavioral targeting came in at $1.53 — a 48 percent delta, according to the study. The cost-per-viewable impression was also 41 percent less than behavioral targeted ads ($5.85 versus $3.44 on a vCPM basis). Meanwhile, contextual eCPMs on average cost $4.36 — about 36 percent lower than behavioral eCPMs ($6.85).

CYDigital/marteq.ios insight:

Granted the sponsor of the study is in contextual advertising, but the study was done in an unbiased fashion.  Excellent data, and a compelling argument.

 

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Why marketing will improve thanks to the death of third-party cookies - ClickZ

Why marketing will improve thanks to the death of third-party cookies - ClickZ | The MarTech Alert | Scoop.it
  • Brands will need compliant and consumer-friendly ways to collect, enrich, and organize first-party data. The first step is to honestly ascertain – who you are, who your target audience is, and what you can afford.
  • Attribution based on third-party cookies will no longer be possible, and in its place will be new identity and people-based data sources and advanced methods, such as mixed-media models. 
  • Technologies like customer data platforms (CDPs) that can connect first-, second-, and third-party data to support audience management and activation using persistent IDs like first-party email addresses and PII, will grow in importance and will ultimately evolve into enterprise-wide customer management platforms.
  • Measurement in a world without cookies can ultimately be achieved with proper structure and planning. Begin with clarity about your business model and what you want to accomplish. If it is simply to accelerate sales, acknowledge and accept that as the design and outcome.
CYDigital/marteq.ios insight:

The best article I've seen to date explaining why the loss of 3rd party cookies is absolutely not the end of the world, and will make for better marketing.

 

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