“When we do right, nobody remembers. When we do wrong, nobody forgets.” It’s the motto of Hell’s Angels but Facebook might agree. So let’s give them (Facebook) a little credit for requiring marketers to certify consent for custom audiences they upload to Facebook. But not too much credit: Facebook isn’t verifying that the certifications are valid.
Who manages customer data? It’s marketing at about one-third of the companies polled by DataIQ for the UK Royal Mail. Two-thirds cited a central data organization or IT. (Multiple answers were allowed so at some companies it’s both, and/or other groups including CRM and customer service.) Rather shockingly, one-third (32.7%) had no formal data quality process and 16.3% don’t validate internal data at all. Lots of other interesting data, including estimates of how much bad data harms the bottom line.
Then again, how reliable are consumer surveys to begin with? Let’s take a quick poll: raise you hand if you’re eager to spend more time reading food labels in the grocery store. Not many hands out there, I suspect. Yet a survey for SmartLabel found more than 70% of people would like more details than package labels now provide. No prizes for guessing what SmartLabel does.
Media mix models (MMM), originally developed in the 1960’s, have undergone a resurgence as new technologies make them easier to execute and click-based attribution becomes less credible. But evaluating MMM brings its own challenges. Australia-based Mutinex offers a vendor-neutral Open Source MMM Validation Framework which is now available for free to North American marketers and agencies.