September, 2022 - CDP Institute - Page 5

Dates : September 2022

CDPs that specialize in a single industry have been a trend for some time. The latest is Ikue, which is built for telecom operators and follows an industry-standard data model from TM Forum. Telecom has been relatively slow to adopt CDPs due to regulatory concerns and the sheer volume of data involved.

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Ok, here’s a crazy coincidence: we have news from another CDP that specializes in telecom. Intent HQ has launched an AI-driven audience builder that finds hidden opportunities within a customer base. The tool doesn’t require data scientist support and lets marketers choose from a list of predictive indicators to model against. It uses other Intent HQ features to automatically ensure the audience data is privacy-compliant.

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Lots of people want to help retailers compete with Amazon. Swiftly Systems offers tools for online and instore promotions plus retail media networks. They just announced their second $100 million funding round in six months.

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Instacart is also manning the anti-Amazon barricades. They just launched Connected Stores, an initiative that helps retailers compete with Amazon’s no-checkout technology. Clients also get an online component and lots of fresh customer data. Success isn’t guaranteed: Wegmans recently dropped a self-scanning program due to high shoplifting costs.

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How big are the ecommerce and retail media pies? GroupM estimates retail media at $101 billion for 2022, or 11% of global ad revenue, and ecommerce at 19% of all retail sales. Amazon actually ranks second to Alibaba in total ecommerce revenue, and only three of the top ten ecommerce companies are based in the US.

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This Ascend2 report on data-driven marketing holds some surprises. Personalization (46%) turns out rank behind customer experience (58%) as the most important trend for the next year, while predictive analytics (28%) is ranks lower than improved data integration (33%). AI and machine learning are dead last at 10%.

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Here’s another unexpected result: Demandbase finds that just 23% of B2B marketers see free trials as their most important tool for attracting new customers, ranking far behind interactive features including product tours (46%), interactive demos (45%) and online calculators (43%). You may or may not be surprised that missing (59%) and dirty (56%) data are the biggest data challenges while disconnected sources are cited by just 40%.

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The folks at “no-code product adoption platform” Chameleon probably know how important interactive tools are, since they make it easier for SaaS products to deploy banners, tool tips, models, checklists, walkthroughs, help searches, and similar interactions. They just raised a $13 million Series A. Just to be clear: Chameleon adds elements on top of a SaaS product without changing how the product itself works.

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The US Congress discovered that customs officials have been copying personal data from as many as 10,000 cellphones, iPads and computers of travelers entering or leaving the country by land, sea, and air. This has been done without requirement of a warrant or a suspicion of crime and was made possible by courts that expanded Customs and Border Protection (CBP) access. Congress has criticized CBP and is calling for stricter protections to remediate this.

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South Korea found Google & Meta violating its privacy law, so now slapped them with fines: 69.2 billion KRW (~$50 million – Google) and 30.8 billion KRW (~$22 million – Meta). The companies had not obtained consent before collecting data from site users, then enabled targeting with customized ads. At Google, users were not clearly informed of use plans and a default forced them to “agree.” At Meta, details about data use plans were not provided, nor was consent obtained before using behavioral and personal information.

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Indonesia is set to pass its Personal Data Protection Bill (PDP) this week. The law, which gives companies two years to comply, will require data operators to obtain consent from individuals for collecting personal data or medical history. The strict penalty for noncompliance is up to 5 years in jail and a maximum fine of 5 billion rupiah (US $337,000). The law stipulates that personal information collected must be for a specific purpose only and that data must be erased once the purpose has been met.

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Ad trickery using psychological games, misleading claims, hidden disclosures or other bait and switch tactics are not new to sales, but the move to online has presented new opportunities to lure and ensnare prospective buyers. A new US Federal Trade Commission (FTC) report displays examples of what’s called “dark patterns,” deceptive design practices used to dupe customers. The report is part of a larger effort by the FTC to identify and stop unfair business practices. This shortly after the FTC issued a policy statement warning companies against illegally tricking or... Read More >

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