One of marketing’s grand new frontiers is taking advantage of the location data from Internet-connected devices. A study from Grand View Research finds that the total “location of things” market will grow from $5.6 billion in 2016 to $71.6 billion by 2025, a breakneck pace of 34% per year. Media and marketing are expected to account for about one-quarter of the market.
Amperity, which has been in not-very-quiet stealth mode for over a year, has formally unveiled its “intelligent customer data platform”. As you’d expect, it builds unified customer databases using machine learning and a large-scale distributed data architecture on Microsoft Azure. The big innovation appears to be probabilistic rating of the matches found by its identity resolution engine, so customers take use tighter or looser standards depending on how important it is in a particular situation to be certain that matches are correct. The company raised $9 million in February 2016.
This isn’t exactly news but it’s still interesting to learn that Amazon’s patent on “1-click” ordering expires today. Does it seem they’ve been doing that forever or that they started just yesterday? Bonus question: what will change now that everyone can offer 1-click shopping?
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.