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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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How to bring more value to your email marketing - MarTech Today

How to bring more value to your email marketing - MarTech Today | The MarTech Alert | Scoop.it
The critical tool in making email valuable is the use of Accelerated Mobile Pages (AMP) email format that allows recipients of AMP emails to interact dynamically with the content directly in the message.

The AMP format allows for:

Senders to include AMP components inside more dynamic emails;
Modern app functionality; and
A variety of interactive experiences such as surveys.
AMP emails are currently supported by Gmail, Yahoo and Outlook platforms, however Microsoft has announced its plan to create their own AMP-enabled dynamic email platform.
CYDigital/marteq.ios insight:

The use of AMPs is not nearly as high as it should be in B2C and B2B marketing. Smart advice.

 

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Why Integration Is Trumping All Marketing Technology Requirements - CMSwire

Why Integration Is Trumping All Marketing Technology Requirements - CMSwire | The MarTech Alert | Scoop.it
In the CDP Institute report, marketers also reported that integration with external systems (53%) tops things like ease of learning and use (51%), breadth of features (40%), operating costs for fees and staffing (36%) and initial costs of acquisition and deployment (32%) when martech leaders were asked what their company generally considers most important when selecting marketing technology.

And as for integration with internal systems, it wasn’t even close: 66% of leaders cited that as most important, dominating all other answers.

Think about that: integration trumps price, ease of use and features. The industry has come a long way.
CYDigital/marteq.ios insight:

Significant findings. It's as if marketers are taking a step back and ensuring greater levels of success from current investments, which is completely prudent.

 

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21 lead generation tools to fill the sales funnel - TechTarget

21 lead generation tools to fill the sales funnel - TechTarget | The MarTech Alert | Scoop.it
With so many avenues for advertising and lead nurturing, effective martech tools for lead management, data collection, email tracking and marketing automation have never been more important. And there is no shortage of tools in the market to help businesses meet those demands.

Here are some lead generation tools that businesses can use to engage customers and fill their sales funnel.
CYDigital/marteq.ios insight:

Click-through for the list of 21 tools.

 

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Consumer Trends Analysis: Pandemic Impact on Brand Loyalty - MarTech Series

According to another report from Bazaarvoice, 39 percent of consumers worldwide bought products from new brands this year, and 88 percent of those first-time purchasers indicated they intend to continue buying these brands in the future. More than half of consumers in the U.S. (51 percent) resorted to purchasing brands they hadn’t previously known about, likely a result of more well-known brands selling out their stock due to higher demand.

Forbes also reports that consumer loyalty has decreased as a result of the pandemic, adding another challenge to the many obstacles retailers already face. Their conclusion comes from a study conducted by Wharton Baker Retailing Center and WisePlum that indicates consumers experiencing problems or delays when ordering goods were 35 percent less loyal than those able to purchase products without complications.
CYDigital/marteq.ios insight:

No doubt that there's an impact on shopping patterns, but it remains to be seen if this has legs.

 

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Navigating a Sea of Martech? 4 Tips For Charting Your Course in 2020 - MarTech Series

Navigating a Sea of Martech? 4 Tips For Charting Your Course in 2020 - MarTech Series | The MarTech Alert | Scoop.it
  1. Organize your team for success 
  2. Recognize technology that’s worth the cost: The important thing to remember though, is that no one type of technology will guarantee strong results. Before going all-in-one technology that might sound and look good, make an effort to understand the algorithms at play and how they provide tangible, incremental value to the marketing process.
  3. Know the data you’re using: To avoid the pitfalls associated with third party data, use your own data as much as possible. 
  4. Reduce the partners on plan: It’s important to understand the outcomes you’re trying to achieve, and then choose the right partner for those outcomes. You need someone who can deliver on the various tactics needed to achieve your goals, and can do so without math that involves windows and ratios. The 200-pound gorilla is not your only option. Choose wisely.
CYDigital/marteq.ios insight:

Note #3. The far better choice? Extended zero party data. Let's talk.

 

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Marketing Technology LUMAscape | LUMA Partners

Marketing Technology LUMAscape | LUMA Partners | The MarTech Alert | Scoop.it
LUMA is the leading investment bank focused on digital media and marketing. We provide strategic advice, proven M&A expertise, and extensive industry knowledge to optimize outcomes for our clients.
CYDigital/marteq.ios insight:

Not nearly as comprehensive as the MarTech Landscape, but it covers the leading companies in martech.

 

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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 MarTech 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.

 

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Best Practice: Four ways to leverage lifecycle marketing - ClickZ

Best Practice: Four ways to leverage lifecycle marketing - ClickZ | The MarTech Alert | Scoop.it
  • Lifecycle is a more holistic view of the customer journey – accounting for post-purchase touchpoints such as: adoption, retention, expansion, and advocacy
  • Increasingly, customers are expecting engagement in this context. And business leaders are expecting marketers to leverage this space
  • Greenberg’s best practices include: tracking digital behaviors, defining segments pre- and post-acquisition, engaging around your offering, and developing advocacy programs
CYDigital/marteq.ios insight:

If you want to track digital behaviors, and do it with extreme accuracy, you need to secure your consumer's permission...and give them control over their digital behavior data.

 

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Marketing strategies for the luxury sector - Doxee

Marketing strategies for the luxury sector - Doxee | The MarTech Alert | Scoop.it

In the luxury market, there are three possible strategies: luxury, fashion, and premium. The difference between these strategies is enormous: for fashion and premium strategies, classic marketing styles work quite well. However, when it comes to luxury, you have to rethink the typical marketing strategies. 

  1. The luxury strategy aims to create the maximum value for the brand and the full power to determine prices by exploiting all the intangible elements related to the brand identity, such as tradition, country of origin, history of craftsmanship, limited runs related to the scarcity of valuable raw materials, prestigious customers, etc.
  2. Fashion strategy is a totally different business model: here time is not decisive; fashion sells by being “fashionable”, i.e. a transitory value, an object of a programmed obsolescence, to borrow a term from high tech. 
  3. The premium strategy is an eminently comparative strategy. It can be summarized as a “pay more, get more” strategy where you must prove to customers that they’re getting the best quality for the price within a given category. 
CYDigital/marteq.ios insight:

A tremendous article focused on luxury marketing. Even if this isn't your line of business, it provides well-researched insight.

 

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10 B2B Marketing Automation Trends For Your 2021 B2B Marketing Strategy | KoMarketing

10 B2B Marketing Automation Trends For Your 2021 B2B Marketing Strategy | KoMarketing | The MarTech Alert | Scoop.it
  • More Investment.
  • Efficiency and Effectiveness.
  • Sales and Marketing Alignment.
  • Personalization.
  • Advertising.
  • Multichannel Marketing (Sometimes Called “Single Customer View (SCV)”).
  • AI-Driven Workflows and Buyers’ Journeys.
  • Conversational Marketing.
  • Automated Attribution.
  • Marketing Automation is No Longer Distinct From Any Other Marketing Strategy.
CYDigital/marteq.ios insight:

Completely agree with Personalization, but data management is MIA, especially in light of legislation. Click through to review the associated charts and tables.

 

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Jack Dorsey Details Twitter’s Blockchain Strategy at Oslo Freedom Forum | Nasdaq

When Twitter and Square CEO Jack Dorsey spoke at the virtual Oslo Freedom Forum 2020 on Friday, he said blockchain technology is the future of Twitter. 

"Blockchain and bitcoin point to a future, point to a world, where content exists forever," Dorsey said. "We're not in the content hosting business anymore, we're in the discovery business.

In short, Dorsey expects the nonprofit Blue Sky to create an open Twitter protocol, which users can contribute to and access data from instead of a centralized service where the social media platform hosts content on its website.
CYDigital/marteq.ios insight:

A declaration that should pave the way for many others to follow. Blockchain offers so much to the marketer.

 

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CPRA Pushes "Privacy by Design" Shift for Software Developers - Dev Pro Journal

CPRA Pushes "Privacy by Design" Shift for Software Developers - Dev Pro Journal | The MarTech Alert | Scoop.it
The California Privacy Rights Act (CPRA) is on the ballot this November, and if it passes will expand the privacy rights within the existing California Consumer Privacy Act (CCPA).  The new law builds on the principles of data minimization, greater consumer control of personal data, and increased transparency on data retention and potential uses. It could have unforeseen implications for many companies who think their data is secure, and new opportunities for software developers and ISVs moving to “privacy by design” software development.

Compliance with the CPRA guidelines will require operational and system upgrades in data capture, storage, governance and security for all three domains. The main technologies needs are around:
Data mapping and cataloging. Personal data must be tracked across an organization’s entire IT landscape. 
Data minimization. A major component of the CPRA and similar privacy laws is the belief that organizations should only collect the bare minimum of data required to complete an interaction or transaction.
Data anonymity. In any instance when data is not critical to the function of the application, it should be anonymized in order to reduce the risk of data breaches.
Data access requests. Gartner estimates that every data access request costs about $1,400 when processed manually. Organizations will look for solutions that manage data access and sharing securely and efficiently.
CYDigital/marteq.ios insight:

The forthcoming CPRA will turn data collection completely upside down, especially for marketers. The sooner you give data ownership to the consumer, the better your relationship with the consumer and your ability to adjust to the CPRA.

 

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Google and Reddit Offer New Tools for Advertisers - Chief Marketer

Google and Reddit Offer New Tools for Advertisers - Chief Marketer | The MarTech Alert | Scoop.it
Similar to other platforms, including Facebook and TikTok, Google has created new advertising and ecommerce tools targeted at small- and medium-sized businesses. One feature to be added soon is in-store sales measurement and smart bidding, which uses machine learning to optimize bids based on specific KPIs. Advertisers will be able to upload first-party sales data to assist in targeting people who would be most likely to make purchases.

The platform is also adding functionality that will show online shoppers where and when they can get items that are out of stock. And businesses will be able to add specific information in Google search and on their profile pages, including whether takeout, curbside pickup, in-store shopping and no-contact delivery is offered.
CYDigital/marteq.ios insight:

Why use Google to reach your own consumers when you can do this yourself...while respecting your consumers' privacy?

 

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Latest research shows consumer privacy concerns around data misuse rising - CMO Australia

Latest research shows consumer privacy concerns around data misuse rising - CMO Australia | The MarTech Alert | Scoop.it
More than eight in 10 Australians consider organisations asking for personal information that doesn’t seem relevant to an interaction to be a misuse of their data, a new report has found. Seven in 10 respondents nominated privacy as a major concern for them, while 87 per cent wanted more control and choice over the collection and use of their personal information.

Specifically, 81 per cent of Australians said they considered an organisation asking them for personal information that doesn’t seem relevant to the purpose of the transaction and recording the types of websites they visit without their knowledge to be a misuse of their data. 

Most Australians also believe they should have the right to ask a business to delete their personal information (84 per cent) and nearly eight in 10 want the right to seek compensation in the courts for a breach of privacy (78 per cent).
CYDigital/marteq.ios insight:

I'm telling you: data privacy is a real issue for marketers, and the sooner they release ownership of data back to consumers, the better (MUCH better) operating environment.

 

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Evaluating New Technology? You’re More Biased Than You May Realize - Sloan Management Review

Evaluating New Technology? You’re More Biased Than You May Realize - Sloan Management Review | The MarTech Alert | Scoop.it
In the same way that leaders may harbor an implicit bias about characteristics of groups of people, they may also harbor implicit biases about new technology — including new technology they might be considering investing in to improve productivity or competitiveness.

You may think that you make decisions about technology tools with an open mind and a clear process for evaluating options. But our review of hundreds of published studies on new technology adoption reveals that personal beliefs about new technology — that it’s wondrous, complex, and alien — prompt specific, unconscious biases about how and why it’s better than older options.

Implicit bias toward the dazzle of new tools can cause leaders to take unnecessary risks and ignore the advice of human experts in decision-making. Further, implicit bias toward new technology may lead to sizable investments in products and services that are unproven or even unsafe.
CYDigital/marteq.ios insight:

Fascinating thesis. Marketers today are especially vulnerable, as the discipline is incredibly tech-oriented, but the ROI is sometimes sketchy.

 

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Salesforce Reimagines Sales With Enhanced Virtual Selling Suite - AIthority

Salesforce Reimagines Sales With Enhanced Virtual Selling Suite - AIthority | The MarTech Alert | Scoop.it
Salesforce is announcing the following new capabilities to supercharge virtual selling with a 360-degree view of the customer:

Salesforce Meetings: A new meeting management system that helps reps be better before, during and after sales calls. Before meetings, sales reps have a 360 view of all meeting attendees on a single screen — including customer history, open service cases and attendee bios. 
Einstein Video Call Coaching: Einstein Call Coaching can now analyze video conversations to capture AI-powered insights on customer needs and rep performance. 
Salesforce Maps Field Safety Kit: With the Maps Field Safety Kit, sales organizations can now understand how customers are affected by visualizing COVID-19 trend data inside the CRM to determine which areas are safest for travel. 
Enhanced High Velocity Sales: High Velocity Sales, originally built for prospecting, will now provide automated actions across the sales cycle on opportunities and accounts. 
CYDigital/marteq.ios insight:

FYI.

 

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New Research Shows That Confusing Marketing Can Lead to Consumers Making More Informed Decisions - Meredith

New Research Shows That Confusing Marketing Can Lead to Consumers Making More Informed Decisions - Meredith | The MarTech Alert | Scoop.it
A buzzy product with flashy social media posts and clear descriptions may seem like the best way to market your product and get consumers to invest it in. However, a new study has found that advertisements with confusing language and a more chaotic layout can actually lead to consumers conducting more research on that product and ultimately making a more informed buying decision.

"Most of the time, marketing communicators try to make their message clear. What we learned, however, is that there are certain times, especially when people need to make choices, when we should actually use disfluent stimuli so that whatever people are choosing, they will like it once time has passed," explains co-author Gaurav Jain, an assistant professor of marketing in the Lally School of Management at Rensselaer Polytechnic Institute.

Researchers found that consumers believed the time they spent trying to understand an advertisement was part of a diligent, research-based decision. Ultimately, they were happier with the decision they made to choose a product because they believed they spent an adequate amount of time understanding a particular product.
CYDigital/marteq.ios insight:

No wonder those old Carvel Ice Cream commercials worked.

 

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'Cautiously Optimistic' — Agency Leaders Weigh Industry's Recovery Prospects - Provoke Media

'Cautiously Optimistic' — Agency Leaders Weigh Industry's Recovery Prospects - Provoke Media | The MarTech Alert | Scoop.it
Last week, PRovoke's latest global industry study revealed an improved business outlook for PR agencies and in-house communications departments. The research, carried out by PRovoke, ICCO, APACD and Stickybeak, attracted 437 respondents from across the globe — finding an overall upturn in business and budget sentiment compared to the first two waves of the survey. 

In general, the comments indicate a considerably more positive outlook than our last interrogation of agency views in April, which found an industry grappling with profound uncertainty amid the economic fallout and mental anxiety of a global pandemic. 

In particular, as reflected in the survey results, client budgets are in recovery mode — and have proven particularly resilient in such areas as crisis, corporate reputation, purpose and employee engagement.
CYDigital/marteq.ios insight:

If we get into a second wave of Covid-19, you can bank on a significant budget reduction effort driven by the CFO. It's a lock. And by the way, the data for new cases is not looking good these past 14 days.

 

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How U.S. tech policy could change if Democrats win back the Senate - VentureBeat

How U.S. tech policy could change if Democrats win back the Senate - VentureBeat | The MarTech Alert | Scoop.it
The United States still lacks personal data privacy laws that would set ground rules for the way private companies treat data collected about individual consumers. General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) in California are major steps toward strengthening such privacy protections.

Malkia Devich-Cyril, founder of Media Justice, says comprehensive data privacy reform is one type of legislation with a lot of bills on the table to draw inspiration from. The two most prominent in recent memory are the Consumer Online Privacy Rights Act (COPRA) and the Consumer Data Privacy Act (CDPA). The bills, put forward by Democrats and Republicans, respectively, protect privacy rights for individuals and grant more resources for Federal Trade Commission (FTC) regulators. A major difference between the two is that COPRA enshrines the private right of action, or the ability to sue an individual company like Facebook or Google when data privacy rights are violated on their platforms.
CYDigital/marteq.ios insight:

It'll get watered-down at the federal level, so the best bet is to align policies and procedures with the forthcoming CPRA.

 

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Understanding the role of voice in martech - ClickZ

Understanding the role of voice in martech - ClickZ | The MarTech Alert | Scoop.it
  • Voice technology is being widely adopted, thanks to the global distribution of voice assistants like Google Assistant, which is installed in over 1 billion devices as of 2020.
  • Improvement in voice recognition accuracy is also helping with widespread adoption of voice technology. Google achieved a 95% accuracy rate for the English language as of March 2017. This is the same threshold for human accuracy.
  • 82% of consumers expect an immediate response on sales or marketing. Voice recognition technology, which enables the immediacy of customer service responses, is addressing this need for many businesses.
  • Voice-enabled tools are increasingly being employed within an organization’s martech stack, to facilitate internal operations. Examples include speech-to-text transcription tools, real-time conversational analysis, and automated call listening/conversational analysis platforms.
CYDigital/marteq.ios insight:

FYI.

 

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Mailchimp brings AI to the SMB market - MarTech Today

Mailchimp brings AI to the SMB market - MarTech Today | The MarTech Alert | Scoop.it
Mailchimp, the integrated marketing platform explicitly aimed at small businesses, today announced the release of Smart Platform, featuring a set of enhancements reflecting an investment in data science and AI.

New tools include Creative Assistant to automate content creation; dynamic recommendations—including personalized product recommendations—based on customer performance data, as well as global industry trends; and a new customer journey builder.
CYDigital/marteq.ios insight:

Finally, marketing automation comes to Mailchimp. But it's not AI.

 

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SAFE DATA Act Joins Crowded Field of Privacy Bills - Decipher

SAFE DATA Act Joins Crowded Field of Privacy Bills - Decipher | The MarTech Alert | Scoop.it
Four Republican senators have introduced a new privacy bill that is aimed at limiting corporate use of consumer data, but it is based on the outmoded idea of notice-and-consent and also would prevent states from passing their own privacy or data security laws.

The bill is the latest in what has become a deluge of privacy legislation in the current Congress, many of which share common traits and basic principles. Like many of the existing bills, the SAFE DATA Act introduced last week gives individuals the opportunity to see, correct, or delete data collected on them by companies and prohibits companies from refusing to provide goods or services to people who don’t agree to their privacy policies. However, the bill employs notice-and-consent as the basis for data collection, a notion that is considered ineffective for actually informing people about what data a provider is collecting and what options they have as a result. Few people take the time to read privacy policies and even if they do, the language is very difficult to decipher. 

While many of the provisions in the new bill are similar to those in existing bills, the SAFE DATA Act also includes a section that explicitly prohibits state legislatures from passing new privacy or data security laws, or from enforcing existing laws. The clause does not apply to state data-breach notification laws, however.
CYDigital/marteq.ios insight:

Won't happen, as there is a clear infringement on state's rights. But watch this space, especially if the Senate does not shift to the Dems.

 

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Consumers want more control over how you use their data - Which-50

Consumers want more control over how you use their data - Which-50 | The MarTech Alert | Scoop.it
Consumers are taking more control of their personal data, and it is beholden on businesses to give them the tools they need to do that. Blaine Carter, Chief Information Security Officer of Franklin Covey, said that privacy and consent have become product differentiators. “We’ve seen that with Franklin Covey. We’ve seen a lot of customers who do want to feel like they can trust you with their information.”

Trust, consent, and a genuine value exchange sit at the heart of the new relationship between buyer and seller, he said. “When we’re talking about value exchange, we started rolling out features where we’re very honest and upfront with how we offer value in exchange for personal information.”

In the past, he said, it would have been rare for him to meet with the Chief Marketing Officer. Marketing always seemed to be too busy to meet with Information Security. Together, Marketing and Information Security understood that they really needed to be honest and upfront with how they were gathering information, as well as what kind of choices needed to be made.
CYDigital/marteq.ios insight:

Perfect example. It's happening, right now: consumers want control, but are willing to provide their data in exchange for a clearly delineated benefit. We have the solution.

 

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What CCPA-affected businesses need to know about California’s next privacy initiative | ComplianceWeek

What CCPA-affected businesses need to know about California’s next privacy initiative | ComplianceWeek | The MarTech Alert | Scoop.it
Businesses with operations in California should expect their data privacy compliance obligations to get a lot more complicated next year. That’s because voters may choose to replace the California Consumer Privacy Act (CCPA)—the country’s only currently enacted data privacy law, which took effect Jan. 1—with the California Privacy Rights Act (CPRA). The Nov. 3 California state ballot asks voters to approve Proposition 24 and enact the CPRA. The law would expand the definition of sensitive personal information and add a host of new data collection, use, and storage compliance requirements for businesses, many of which are still struggling to comply with the CCPA.

In addition, Proposition 24 proposes to take regulation and enforcement of the CCPA away from the California Attorney General’s Office and place those functions in the hands of a new independent entity, the California Privacy Protection Agency (PPA).

While the CPRA would take effect Jan. 1, 2023, the new agency could begin work as soon as July 1, 2021, supported with $10 million a year in state funds. And that new agency would enforce the CCPA until the CPRA takes effect.
CYDigital/marteq.ios insight:

Consider CPRA, which will pass, to be as onerous as the GDPR. And with $10M budget, it will be enforceable via a staff of attorneys. NOTE: the new agency could start up next year, enforcing CCPA (which does not have a budget to ensure enforcement). You've been warned.

 

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Blockchain study reveals potential benefits for digital advertisers | WARC

Blockchain study reveals potential benefits for digital advertisers | WARC | The MarTech Alert | Scoop.it
The use of blockchain technology in qualifying impressions in digital advertising can increase return on ad spend by as much as 14%, according to research from the Trustworthy Accountability Group (TAG).

“Collectively, 80% of impressions met the compliance criteria selected by each brand,” Jules Kendrick, MD UK & Europe for TAG reports. “Of the 20% that were not considered qualified, 10% of impressions had measurement or matching discrepancies, 6% were classified as high brand safety risk, 3% as non-measurable and 1% as suspicious.”
CYDigital/marteq.ios insight:

Blockchain used to measure qualified impressions! Incredibly helpful when ascertaining channel effectiveness.

 

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