Retina’s founders didn’t get the memo that AI is no longer cool and have positioned their system as using it to predict customer lifetime value. They take the rather hostile attitude that “a majority [of new customers] are poison for the business” and promise to weed the bad ones out quickly. They just raised $5 million from backers who probably expect the majority of their investments to fail but miss the irony.
Established Customer Data Platform vendors prepared for industry consolidation even as new firms entered industry during the second half of 2019, according to the CDP Institute’s semi-annual Industry Update. The industry added fourteen vendors and $236 million in new capital during the period while employment was up 64% over the previous year.
Even the most tech-savvy marketers are puzzled about the impact of privacy changes. One result – or maybe it’s a cause – is vendors who position barely-related technology as “pro-privacy” solutions. Case in point: Quintesse describes its natural language processing system for understanding the content of Web pages as an alternative to third party cookies. Their pitch is if you can’t target individuals with cookie-based profiles, you can target on page content instead. It’s a tenuous connection at best.
It’s all surveys today, Dear Reader. Marigold reports that consumers are eager for personalized content, with 79% saying they’re likely to engage with a personalized email tailored to their interests. Sadly, 33% feel their needs are unmet by current brand messages. Discounts and coupons (95%) top the list of what they want in exchange for personal data, followed closely by loyalty rewards at 94%. Content is last at 61%.