Here’s a less common coupling: retailers running digital ad networks. The connection is the retailers’ huge troves of customer data. CVS Pharmacy is the latest retailer to take the plunge, following Walmart, Target, and others. Troves for everyone!
The U.S. market for marketing-related identity data, platforms, and services will reach $4 billion in 2020 and grow nearly 20% per year to 2024, according to Winterberry Group. The report provides interesting details on pricing models and estimates for spending in Europe. Winterberry estimates U.S. spend on all third-party audience data and data activation solutions will total $21.9 billion.
The New York Times reports that some U.S. schools that don’t want to report COVID-19 data are using HIPPA and FERPA privacy laws as an excuse. Neither law would require withholding such data as long as it didn’t contain personal information, and such a decision would pose a health risk to families and communities.
Martech keeps taking larger bites out of marketing budgets: 17.3% last year, 19.9% this year, 23.5% next year, and 30.9% five years from now, according to the latest CMO Survey. This despite barely more than half (56.4%) of current tools being used and nearly half (48.8%) of the survey respondents reporting worse-than-expected results. Oddly enough, marketers rate selecting marketing technologies as the thing they do best.