Let’s start with good news today: Deloitte Digital reports that personalization leaders were nearly twice as likely as laggards to have exceeded 2021 revenue goals. The bad news is only about 40% of brands can deliver the types of personalization that consumers want. Worse news is 74% of brands lack the staff skills needed for effective personalization.
One problem with using external data is the quality from different sources is wildly inconsistent. Truthset Data Collective is aiming to tame that beast by scoring different sources against a verified standard, using hashed email address as a primary identifier. Initial participants include Epsilon, Alliant, Data Axle, Stirista, and Verisk. Participants don’t share data with each other, so files are just scored, not corrected.
Back to good news: Privatar found that 49% of data leaders ranked targeting for marketing as the most important data driven project, beating perpetual favorites like operational efficiency and cost optimization (both at 43%). Less good: 48% said their data investments have not delivered desired results and 71% have limited data access due to government regulations.
The U.S. Senate has passed a bill that could potentially ban TikTok in the U.S. if its Chinese owner, ByteDance, does not sell its holdings within a year. The bill now goes to the President Biden, who has said he will sign it. Court challenges are likely to follow.