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Marketers Shift Spend to First Party Data: IAB Report

It’s become a cliché to say that loss of third party data makes first party data more important. This IAB study supports the notion, finding that spend on data management, including CDPs, grew 9.8% in 2019 to reach $5.5 billion while spend on third party data grew only 6.1% to reach $11.9 billion. Both are down in 2020 due to the pandemic, which has also replaced privacy regulation as marketers’ top concern.

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THE COST OF YOUR DATA BREACH

August 5, 2020

IBM’s Cost of Data Breach report, which was conducted in partnership with the Ponemon Institute, warns that data breach costs have increased by 10% in recent years while the speed of discovering breaches has decreased. On average, they say based on interviews with 3,200 individuals involved in data breaches, it takes 280 days to mend a breach. Not only does this mean lost revenue, but also a loss of customer trust and damage to a company’s reputation.

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Marketers Struggle for Personalization Success: RedPoint Global Survey

September 27, 2021

This Harris Poll study for Redpoint Global offers a sobering view of customer experience reality.  They found that marketers are twice as likely as consumers to think brands deliver an excellent experience (51% vs 26%), while under half of the marketers who use advanced technologies including personalization, AI-driven recommendations, or multi-variate testing think they are having great success with them.  Fun fact: the average number of customer engagement systems is now 16, nearly double the figure in 2019.

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