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Customer Journey Lessons You Don't Want to Learn the Hard Way - Ascend

Customer Journey Lessons You Don't Want to Learn the Hard Way - Ascend | The MarTech Alert | Scoop.it
CYDigital/marteq.ios insight:

It's a pain, but well worth it...if you have the resources.

 

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Now you can enforce your privacy rights with a single browser tick - Ars Technica

Now you can enforce your privacy rights with a single browser tick - Ars Technica | The MarTech Alert | Scoop.it
Under the hood, the specification, known as Global Privacy Control, works pretty much the same way Do Not Track did. A small HTTP header informs sites that a visitor doesn’t want their data sold. The big difference this time is the enactment of the Consumer Privacy Act in California and, possibly, the General Data Protection Regulation in Europe, both of which give consumers broad rights over how their private information can be used.

CYDigital/marteq.ios insight:

Actually, it's not the CCPA. It's the forthcoming CPRA, which has the teeth necessary to enforce privacy rights. But there's a much better solution...and less expensive.

 

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US Ecommerce Growth Jumps to More than 30%, Accelerating Online Shopping Shift by Nearly 2 Years - eMarketer

US Ecommerce Growth Jumps to More than 30%, Accelerating Online Shopping Shift by Nearly 2 Years - eMarketer | The MarTech Alert | Scoop.it
The pandemic has accelerated ecommerce growth in the US this year, with online sales reaching a level not previously expected until 2022. In our Q3 US retail forecast, the top 10 retailers by ecommerce sales will tighten their grip on the retail market.

CYDigital/marteq.ios insight:

Mind-boggling. And there's no turning back.

 

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Research shows mature data privacy programs have greater benefits | 2020-10-23 | Security Magazine

Research shows mature data privacy programs have greater benefits | 2020-10-23 | Security Magazine | The MarTech Alert | Scoop.it
Respondents understand the significant benefits of a mature privacy program as organizations experience greater gains across every area measured including: increased employee privacy awareness, mitigating data breaches, greater consumer trust, reduced privacy complaints, quality and innovation, competitive advantage, and operational efficiency. Of note, more mature companies believe they experience the largest gain in reducing privacy complaints (30.3% higher than early stage respondents).
CYDigital/marteq.ios insight:

Links to the full study are available when you click-through. Suffice it to say that the benefits from an excellent data privacy program are numerous...and there's a very simple means to enact data privacy. Ask me.

 

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U.S. marketing automation software market share 2020 - Statista

U.S. marketing automation software market share 2020 - Statista | The MarTech Alert | Scoop.it
CYDigital/marteq.ios insight:

Hubspot has a solution for every size of business. FWIW: there are so many MA solutions out there.

 

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Martech Platform Epsilon is Being Transformed by Publicis Groupe - Martech Cube

Martech Platform Epsilon is Being Transformed by Publicis Groupe - Martech Cube | The MarTech Alert | Scoop.it
Helping clients build first-party data and take back control of their customer relationships Building on a fast integration within the Groupe to create the product suite Epsilon PeopleCloud, already embedded in over half of Publicis Groupe's top 30 accounts Uniquely positioned for a cookie-less world with CORE ID, the industry's most stable and accurate identity offering, leveraging more than 200 million profiles
CYDigital/marteq.ios insight:

But it's not zero party data, and that's the real solution in the age of data privacy.

 

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

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Europe Predictions 2021: Protecting Personal Data Remains A Priority In The EU - Forbes

Europe Predictions 2021: Protecting Personal Data Remains A Priority In The EU - Forbes | The MarTech Alert | Scoop.it
Organisations will invest more on technology to collect zero-party data. Digital advertising is on the brink of major, systematic changes. Values-based customers increasingly look to share their data with companies that embrace privacy as a value and treat data ethically. On top of it, the death of the third-party cookie forces companies to focus more on collecting data directly from customers and rely less on more risky third party data. In 2021, CMOs will start to make strategic revisions to their ecosystem and will increase their capabilities to collect zero-party data. CMOs must partner with their security, risk, and privacy peers to select the right technology and craft processes that adequately support their objectives. 
CYDigital/marteq.ios insight:

I pulled the portion related to zero party data. This is on the EU side, but know that this is coming to the US. 

 

With the death of 3rd party cookies, we have the answer.

 

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What leading consultants say about the usage of AI in marketing - ClickZ

What leading consultants say about the usage of AI in marketing - ClickZ | The MarTech Alert | Scoop.it
  • As per an article by McKinsey & Company, organizations introducing technology to sales can find ways that deliver double-digit gains in return-on-investment. Automation is possible in 30% of sales activities.
  • A study co-sponsored by EY in 2020 revealed that 85% of participants have already implemented AI within their organizations and expect to use AI for new use cases in the coming years.
  • As per a recent survey by Nielsen, 51% of global consumers are willing to try artificial intelligence and virtual reality technologies to assess products and services.
  • As per PwC, AI will contribute up to US$15.7 trillion to the global economy by 2030.
CYDigital/marteq.ios insight:

There are some excellent data points when you click through.

 

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

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

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

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

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

CYDigital/marteq.ios insight:

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

 

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Amazon will pay you to know what you bought somewhere else – RetailWire

Amazon will pay you to know what you bought somewhere else – RetailWire | The MarTech Alert | Scoop.it
Amazon.com wants greater insights into what its customers are purchasing and it is willing to pay for the information.

The e-tailing and technology giant has launched Amazon Shopper Panel, an invitation-only program that allows participants to earn monthly rewards by sharing receipts of purchases made outside of its website and retail stores.

Participants in the program are asked to upload photos of 10 eligible receipts per month taken with the Shopper Panel app. Alternatively, they can forward email receipts to Amazon. Additional rewards are available when participants fill out short surveys. Amazon customers can earn up to $10 a month that can be applied to their balance on the site or donated to charity.
CYDigital/marteq.ios insight:

If you doubt B2C companies are unwilling to pay for the consumer's data, see Amazon. And if you doubt consumers will be unwilling to provide their data, see this program as well as all the supporting research.

 

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People Want Data Privacy but Don't Always Know What They're Getting - GovTech

People Want Data Privacy but Don't Always Know What They're Getting - GovTech | The MarTech Alert | Scoop.it
Differential privacy can be used to protect everyone’s personal data while gleaning useful information from it. Differential privacy disguises individuals’ information by randomly changing the lists of places they have visited, possibly by removing some locations and adding others. These introduced errors make it virtually impossible to compare people’s information and use the process of elimination to determine someone’s identity. Importantly, these random changes are small enough to ensure that the summary statistics – in this case, the most popular places – are accurate.

In practice, differential privacy isn’t perfect. The randomization process must be calibrated carefully. Too much randomness will make the summary statistics inaccurate. Too little will leave people vulnerable to being identified. Also, if the randomization takes place after everyone’s unaltered data has been collected, as is common in some versions of differential privacy, hackers may still be able to get at the original data.
CYDigital/marteq.ios insight:

Again, it starts with the individual unknowingly giving up their data, which inherently runs up against emerging legislation. 

 

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Schumpeter - Who owns the web’s data? | The Economist

Schumpeter - Who owns the web’s data? | The Economist | The MarTech Alert | Scoop.it
Start with the individual. It is seductive to argue that each person should have ownership rights over their data. Yet unless laws change radically, in practice it is hard to wrest control back from the tech platforms, because an individual’s bargaining power is woefully weak. Fortunately, other options are surfacing.

One is a subscription model, along the lines of Netflix or Spotify. Another option is to start gathering data on behalf of the individual from all sorts of sources. Inrupt, for instance, is working with the government of Flanders, a region of Belgium, to give every citizen a “pod” to store personal data. It hopes private firms will build user-friendly apps around the data, with people’s consent, says John Bruce, its co-founder. The better the apps, the more eager people will be to furnish it with their data. In India something similar is happening in financial services. Individuals’ and firms’ financial data can be transferred to financial-services firms via “account aggregators” that obtain the owners’ consent. This can help speed up credit-scoring and loan underwriting. It could also be an alternative to huge data guzzlers such as Ant Financial, a Chinese fintech firm.
CYDigital/marteq.ios insight:

Better yet: permit your consumers to own their data, and recognize their ownership. Then compensate consumers so as to access and use their data. 

 

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Blockchain Beyond Crypto– Key Factors For Policymakers To Consider - Forbes

Blockchain Beyond Crypto– Key Factors For Policymakers To Consider - Forbes | The MarTech Alert | Scoop.it

While every country is different, let’s take a look at some of the characteristics and traits that should be a part of any blockchain and cryptoasset policy.

  • Smart contracts are essential. 
  • Blockchains and cryptoassets should be differentiated. Not every blockchain will be used for the same purpose, and establishing policies that are flexible enough to accommodate this reality should form the basis for any wide ranging policy.
  • Data governance should be a priority. 
  • Competition should be encouraged.
  • Collaboration will be integral. The true benefit of blockchain – be it implemented at an organization or at a national level - are the efficiencies that are able to be created between the individuals and institutions that are members of the same network. In other words, even as competing blockchain models develop, organizations may find themselves cooperating on an increasing basis.
CYDigital/marteq.ios insight:

The key here is to know that there's a difference between blockchain and cryptoassets, and that blockchain need not be regulated (unless there is abuse pertaining to immutability).

 

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DOJ’s New Cryptocurrency Enforcement Framework Provides Guidance And Promises Of Heightened Scrutiny - JD Supra

DOJ’s New Cryptocurrency Enforcement Framework Provides Guidance And Promises Of Heightened Scrutiny - JD Supra | The MarTech Alert | Scoop.it

The Report identifies and defines specific business models that may facilitate criminal activities, likely foreshadowing future Department of Justice (“DOJ”) prosecution targets:

  • Cryptocurrency exchanges
  • Peer-to-peer exchanges and platforms
  • Cryptocurrency kiosks
  • Virtual currency casinos
  • Anonymity enhanced cryptocurrencies (“AECs”): considered a “high-risk activity” by the DOJ, these currencies use non-public or private blockchains and have been accepted by MSBs and darknet marketplaces. 
  • Mixers, tumblers, and chain hopping
  • Jurisdictional arbitrage and compliance deficiencies
CYDigital/marteq.ios insight:

The objective is not to stop positive developments in crypto, but to prevent fraud and abuse. Stay within the confines of the SEC, and you're safe.

 

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Why PayPal Could Kickstart Bitcoin Mass Adoption - Decrypt

Why PayPal Could Kickstart Bitcoin Mass Adoption - Decrypt | The MarTech Alert | Scoop.it

Online payments giant PayPal sent shockwaves through the crypto community today, announcing that its customers will soon be able to buy, sell and spend Bitcoin and other cryptocurrencies. As well as sending the price of Bitcoin soaring, it’s being hailed as a watershed moment for the wider cryptocurrency industry.

According to Statista, the number of active PayPal user accounts reached 346 million in the second quarter of 2020. Even if the new crypto features will only be available to US residents initially, that’s still a significant number of people that will be exposed to crypto, many for the first time.


As data collected by Australian digital marketing agency E-Web Marketing shows, roughly 43% of PayPal users are from the US, while 87% of millennials in the US use PayPal for receiving and sending money. This means that at launch, around 150 million people will be able to buy, sell and spend cryptocurrencies within the familiar environment of their PayPal wallets.

CYDigital/marteq.ios insight:

If you still don't think crypto can play a role in the economy, think again. This is significant, and a watershed moment that validates cryptocurrency. All of a sudden, it's mainstream.

 

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

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

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

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

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

 

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

 

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

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

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

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

 

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

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

CYDigital/marteq.ios insight:

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

 

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Microsoft: The US has fallen far behind the rest of the world in privacy protection

Microsoft: The US has fallen far behind the rest of the world in privacy protection | The MarTech Alert | Scoop.it
Microsoft recently highlighted that the US has fallen far behind the rest of the world in privacy protection. Microsoft specifically mentioned that the US lacks a strong national privacy law. Two years ago, the EU adopted GPDR to improve data privacy situation in their region. Since then, many countries including Brazil, India, Japan, Kenya, South Africa, South Korea and Thailand, have adopted, revised or proposed new frameworks for privacy protection. Microsoft pointed out that over 130 countries and jurisdictions have enacted privacy laws. Unfortunately, the US is missing in the list.

CYDigital/marteq.ios insight:

On the other hand, CA's CCPA and the follow-on CPRA brings the state up to the same level as the EU's GDPR. And companies need to adhere to these new regulatory standards not just for CA, but for the rest of the Union.

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The Marketing Technology Intelligence Report: August Review - ClickZ

The Marketing Technology Intelligence Report: August Review - ClickZ | The MarTech Alert | Scoop.it

The data in this Marketing Technology Intelligence report will be most useful to marketers and senior leaders within Marketing Technology companies as well as brand-side marketers looking to see how other marketers are budgeting and purchasing marketing technology.

This report will help to:

  • Understand the current marketing budget trends from June-August.
  • Outline companies’ total budget spending on Marketing Technology.
  • Shed light on the top technologies marketers are evaluating and willing to invest in.
  • Identify the top five reads on ClickZ.com.
  • Track $400 million of Marketing Technology funding within the August period.
CYDigital/marteq.ios insight:

The report is available behind a brief reg form.

 

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Direct-To-Consumer Surges As Stores Languish - Pymnts

Direct-To-Consumer Surges As Stores Languish - Pymnts | The MarTech Alert | Scoop.it
Direct-to-consumer (D2C) selling has taken wing with the ascendance of eCommerce to retail’s throne. What was once a small but meaningful constituency — online shoppers — suddenly seem to be holding all the cards. How consumer packaged goods (CPG) brands and subscription-based businesses respond to this important trend will be make-or-break for many.

“The use of online direct-to-consumer (D2C) channels to purchase consumer-packaged goods (CPG) has grown by 50.1 percent since the pandemic began, surpassing the growth of online marketplace use in key product categories like food and clothing,” PYMNTS recently reported. “This means consumers who flocked online due to the pandemic were in certain instances more likely to use D2C channels than marketplaces like Amazon.”

For context, findings from the PYMNTS study D2C And The New Brand Loyalty Opportunity, a collaboration with sticky.io, indicate that “…CPG brands face a unique opportunity to capture customer loyalty and drive engagement. The current shift’s durability will depend on brands’ abilities to deliver product availability, offer seamless eCommerce experiences and leverage digital tools to forge long-term personalized relationships with customers.”
CYDigital/marteq.ios insight:

And as brands shift to more D2C activity, there are greater personalization opportunities.

 

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Facebook's (FB) Instagram Faces Probe for Data Privacy Issues - Yahoo Finance

Facebook’s FB Instagram is being investigated by Ireland's Data Protection Commission (DPC) over the handling of children’s personal data on the social media platform.

The regulatory body has launched two inquiries on Facebook after it received complaints from individuals that Instagram has made contact information on business accounts publicly visible to anyone accessing the application.

The first inquiry aims at investigating whether Facebook has a legal basis for processing children’s personal data and whether the company deploys adequate protection measures and restrictions on Instagram for children.

The second inquiry looks to establish whether Facebook has adhered to the regulator’s data protection requirements in relation to Instagram’s profile and account settings.
CYDigital/marteq.ios insight:

EU leads the US in privacy, and IE leads the EU. This type of regulatory reaction will eventually creep over to this side of the pond.

 

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Deloitte's 7 marketing trends for 2021 include agile, digital transformation - MarTech Today

Deloitte's 7 marketing trends for 2021 include agile, digital transformation - MarTech Today | The MarTech Alert | Scoop.it
The specific top trends identified by the report shared in common, said Deloitte, “breaking out of our often defensive mindsets to more holistically — and authentically — meet human needs.”

Purpose
Agility
Human connections
Trust
Participation
Fusion
Talent transformation
CYDigital/marteq.ios insight:

Here's a basic need (not found by Maslow): data privacy.

 

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Procter & Gamble hikes marketing spending by at least $100 million as sales soar | Ad Age

Procter & Gamble hikes marketing spending by at least $100 million as sales soar | Ad Age | The MarTech Alert | Scoop.it
Procter & Gamble Co. blew through analyst expectations for the just-ended fiscal first quarter, with organic sales up 9% to $19.3 billion, net earnings up 19% and no signs that the dwindling effects of this spring’s U.S. stimulus is making people trade down to cheaper products.

P&G increased marketing spending at least $100 million last quarter, Co-Chairman and Chief Financial Officer Jon Moeller said on an earnings briefing call with media. That came as P&G continues to wring savings out of overhead, media, agency and production costs – at a pace of more than $200 million last quarter -- but spent those savings back on marketing.
CYDigital/marteq.ios insight:

Funneling savings back into marketing: no wonder they're a world leader.

 

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Gartner Identifies Four Personalization Tactics to Help Marketers Navigate the Current Recessionary Environment - WebWire

Gartner Identifies Four Personalization Tactics to Help Marketers Navigate the Current Recessionary Environment - WebWire | The MarTech Alert | Scoop.it
Gartner tracked and analyzed over 1,000 brands for personalization trends and identified four key findings that marketers should keep in mind as they refocus their efforts on first-party data:

Capture meaningful data at sign-up – Marketers should consider segmenting their customers through newsletter sign-ups by offering content preferences, a practice that brands in the pharmaceutical industry often excel at.
Gather and utilize explicit data after login – Account sign-up usually leaves brands with limited immediate data points for personalization, however, the post-login account customization stage can help brands collect richer information about their customers. 
Personalize at scale with implicit data – Prioritize the incorporation of data sourced from session behavior to personalize sites for account and non-account holders at scale. 
Leverage account data to target via email – Brand marketers must extend their site personalization approach to email, leaning on the implicit and explicit data gathered to send targeted communications. 
CYDigital/marteq.ios insight:

Go beyond the mundane first party data, and dig into the wealth of opportunities from zero party data.

 

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Role Of Blockchain Technology In The Content Marketing Sector - HashCash HCX

Role Of Blockchain Technology In The Content Marketing Sector - HashCash HCX | The MarTech Alert | Scoop.it
  • Preventing content marketing, paid promotion frauds through blockchain.
  • Locating deceptive influencers through blockchain technology.
  • Conducting profitable content marketing: Various content marketers understand the importance of their work, but they additionally realize that content marketing needs a slice of luck. If the right person sees your content with a large follower base and seems to like it, then a single retweet or share is what you need to skyrocket a favourable response.

    In this case, the need for luck can be removed easily. One can do it by pointing to the origin and getting in touch with micro-influencers that have notable followers. With blockchain technology, companies can reward these influencers with possibly redeemable digital assets. It is for sharing their content with their target audience.
CYDigital/marteq.ios insight:

It's that 3rd bullet point that's most intriguing: the ability to work backwards and find the micro-influencers. Working backwards! Is it possible to work backwards on any online transactions so that to determine attribution? Via blockchain: absolutely!

 

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Gaining customer trust in the cookieless era - ClickZ

Gaining customer trust in the cookieless era - ClickZ | The MarTech Alert | Scoop.it
  • The end of third-party cookies brings an opportunity for brands to build relationships of trust with their customers. Ultimately, cultivating trust comes down to how brands handle customer data, however they come by it.
  • Part of adopting a new approach to engaging with data is considering when and how first-party personal information is collected. The “how” is an important foundational detail, as it may set the tone for the marketer’s relationship with the customer, determining whether or not a customer chooses to opt-in to share their information at all.
  • Even after consent is obtained, customers and prospects have the right to change their minds. It’s an ongoing conversation between a customer and a brand, and so the ability to grant or revoke consent at multiple points in time is critical.
  • Smart data use provides relevancy, and the brands that are positioned to thrive in a world without third-party cookies will likely be those that recognize a simple truth: You earn the right to be personal by first being relevant.
    Ultimately, it’s up to the brand to use it to deliver better content and experiences and grow its customer relationships.
CYDigital/marteq.ios insight:

Bravo! But go beyond 1st party data and embrace zero party data.

 

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