#Marketers beware: Privacy Please: How the GDPR Can Elevate Marketing

The EU’s new General Data Protection Regulation (GDPR) can be daunting, but it can have a positive impact on marketing. Here’s why.
— Read on insights.newscred.com/gdpr/

Retargetting is so Flintstones



By Charlie Tarzian, Founder, The Big Willow

So we’re at least 7 years into exchange based media and we’re still complaining about retargeting. Consumer complaints are that it is mindless or creepy. And on the professional side, clients want more control over who to retarget and when.

Meanwhile, back at the zombie ranch of retargeting there has been very little innovation or progress made on some basic requirements that would change the game.

The biggest issue is lack of integration into the enterprise. And by enterprise I mean those data repositories and systems that run any company. The fact that brands continue to chase us with acquisition based messaging even after we have purchased is clearly a missed opportunity. Which begs the question: Is retargeting that misunderstood that it falls to the bottom of the data integration wish list? Do brands understand the magnificent fail of not knowing who their new customers are and the state of play between any one consumer and their company?

Without question brands need to start paying attention to this continual consumer aggravation.

Recently, a B2B client said in a meeting: We are only really interested in investing in our targeted client list. We want to know when they come to our site, we want to know when we serve them ads, when they open and click through our ads, when they follow and share our social links, etc…

So why, she asked, are we retargeting everyone that comes to our site? Our targeted list represents less than 10% of everyone that comes – so why can’t we suppress retargeting to the other 90% of the audience we are not interested in at this time? And what about if we want to retarget based on which part of the site and which product they were engaged with?

Her company’s agency responded: That’s not how it works. There is no way to discriminate. Anyone that comes to the site becomes part of the retargeting pool.

So – indiscriminant retargeting is what it shall be!

Now, on the other side, retargeting relies on building sizable pools of audience to drive the cost of bidding down – meaning the more you have in the pool and the more you have to choose from the better chance you have of winning a certain percentage of your bids and of keeping the costs down. Retargeting buys can be two times the cost on a CPM basis when compared to straight CPM buys. We get that. But retargeting parameters should be no different than how you would set up any DSP-based campaign. You should be able to create whitelists with rules we use in any campaign: only these IP addresses, or these devices or cookies, or customers that have contracts coming up, etc… I only want to target those and with the right context.

If you think about it – instead of relying on the primitive, non-evolved way retargeting is done today, we should be thinking about moving the heavy lifting of retargeting to the same data-driven approach we take through our DMP’s-to-DSP’s-to-ad servers process. That’s how we operate the foundational aspects of our media stack today, so why can’t we use the same stack to inject logic, filtering and knowledge into retargeting.

I can tell you we are working on this issue and I have to imagine others are as well. We call it Filtered Retargeting and to be honest – it is not retargeting as much as it is sequencing messaging based on using historical data. Historical can mean 10 minutes, 10 days or 10 weeks – but the strategy relies on being up to date with previous interactions across data sets and systems. But that is just one dimension.

The other is getting client organizations to architect how key customer data gets into the marketing stack with the aforementioned frequency. When someone makes their first purchase, reactivates, buys a new service, upgrades, etc… the marketing operations world must be updated and rules put in place to allow a change in how we communicate to that individual and/or company. This is the promise of both DMP’s and of an ALWAYS ON marketing stack.

All to say, retargeting has withered on the vine for so long and yet could be so much more effective in enhancing relationships.

Let’s put some of that great thinking that has created so many innovations and breakthroughs into this issue so we can stop talking about it. Selfish as it is, I am tired of retargeting being the subject of dinner party conversations!

What are your thoughts? And who do you think is and/or should be solving for this lack of progress?

Inside The Growing Social Media Skills Gap – FastCompany

Fast Company LogoBY RYAN HOLMES

On February 4, 2004, a handful of Harvard students logged onto a newly launched website called thefacebook.com. Just a dozen years later, some 2 billion people—nearly a third of the planet’s population—are social media users.

So if companies are having trouble keeping up with that pace of adoption, it’s no surprise. Businesses have overcome their earlier skepticism and raced head-on into the social arena, chasing the estimated three-quarters of consumers who now say social media influences their buying decisions. Nearly 90% of U.S. companies are currently using Twitter, Facebook, and other networks—all jockeying for their share of the estimated $1.3 trillion in value that social media stands to unlock.

There’s just one small problem: The contemporary workforce is woefully ill-equipped to help companies unlock it.

THE SKILLS GAP YOU HAVEN’T HEARD OF

While social media races ahead, formal training and education programs are lagging seriously behind. If that isn’t making headlines, it’s testament to social media’s comprehensive mainstreaming: “Facebook? I use that everyday. Who needs to be trained in it?”

Yet a meager 12% of the 2,100 companies in a 2010 Harvard Business Review survey said they’re using social media effectively. And more recent research by Capgemini and others show that confidence gaining only incrementally.

IN A SHORT TIME . . . SOCIAL MEDIA DUTIES HAVE BEEN RADICALLY DEMOCRATIZED AND DECENTRALIZED [WITHIN COMPANIES].

Reports of social media gaffes and blunders in the workplace are still routine. Meanwhile, the real price of the skills gap often goes unnoticed—billions of dollars in missed opportunities and lost revenue.WHAT’S BEHIND THE SHORTFALL

The clearest culprit is the breakneck proliferation of new platforms and features. Around a year ago, Snapchat was still a toy for teens to trade disappearing messaging; today it’s the latest way to reach young customers on their own turf. As more platforms incorporate more sophisticated features, even the most plugged-in users are struggling to keep up.

RELATED:

At the same time, how social media is used in the workplace is fundamentally changing. Just a few years ago, social media in the office was the domain of specialized social media managers, the gatekeepers who owned a company’s public face on the leading platforms. In a short time, however, social media duties have been radically democratized and decentralized. The number of job descriptions on Indeed.com mentioning social media skills is booming: “[We’re] seeing this demand span many levels, from executive assistants to senior vice presidents,” Amy Crow, Indeed’s then communication director told Quartz a few years ago.

Since then, employees have been asked to use social media in ever more numerous and unfamiliar ways. The standard marketing functions are just the tip of the iceberg. Social tools are being used to streamline customer service, drive sales, improve HR processes, and build employee brand advocacy programs.

Meanwhile, platforms like Facebook at Work (in beta now and expected to roll out this year) and Slack (which boasts millions of users, from NASA to your corner coffee shop) are quickly changing how workers collaborate. By bringing social messaging inside the office, these technologies are breaking down silos and boosting productivity (although some disagree). Social media is no longer a discrete thing that certain people do in certain jobs, and more of an integral component of work itself.

BECAUSE SOMEBODY GROWS UP BEING A SOCIAL MEDIA NATIVE, IT DOESN’T MAKE THEM AN EXPERT IN USING SOCIAL MEDIA AT WORK.

But this approach only works if employees are on board and up to speed. “The real problem is that we expect people to know these skills without providing any training,” William Ward, professor of social media at Syracuse University, recently told me. Social media know-how isn’t something you just pick up as a casual user. And it isn’t just older employees who are in the dark—millennial hires need training, too.”

Because somebody grows up being a social media native, it doesn’t make them an expert in using social media at work,” Ward says. “That’s like saying, ‘I grew up with a fax machine, so that makes me an expert in business.’”

BRIDGING THE SOCIAL GAP

Fixing this social skills gap is no small task. In the long term, social media coursework is slowly being incorporated into university programs, and not just for students pursuing marketing and communications degrees. Here at Hootsuite, for instance, we’ve developed a social media syllabus that’s now being used in more than 400 universities around the world by 30,000 students. Programs like these offer a foundation of social media skills for the workplace and may one day be as commonplace as introductory college writing and computer skills classes.

But what about employees struggling right now with the growing demands of social business? The good news is that companies are beginning to acknowledge social media literacy as a critical job skill (just like Internet and basic computer literacy back in the day) and are starting to offer on-the-job training programs. Altimeter reports that almost half of the companies it surveyed are planning on rolling out some kind of internal social education program for employees, while overall spending on corporate training is on a serious upswing, rising 15% in the U.S. in a recent year to $70 billion.

The challenge, of course, is how to teach social media in such a mercurial environment. In the last year alone, for instance, we’ve seen the meteoric rise of “social video” and a whole new crop of one-to-one messaging apps, while Twitter has struggled to reinvent itself.

But few employees have time for in-depth courses or bootcamps. Ultimately, the right training solution needs to be on-demand and mobile-friendly. Currently, some of the bestpaid options are coming not from traditional educational sources, but from companies immersed in the social and digital media space, offering real lessons from the front lines. (Hootsuite’s own online course, Podium, is one free alternative, with 50,000 users and counting.)

TWITTER, FACEBOOK, INSTAGRAM, AND OTHER NETWORKS AREN’T GOING AWAY . . . [AND] SOCIAL MEDIA BUDGETS AT COMPANIES ARE EXPECTED TO DOUBLE IN THE NEXT FIVE YEARS.

Ultimately, though, any investment in upgrading social media skills in the workplace is likely to be money well spent. Twitter, Facebook, Instagram, and other networks aren’t going away. Social business has become business as usual. Indeed, social media budgets at companies are expected to double in the next five years.

To avoid throwing good money after bad, companies need to ensure that their employees actually know how to use new and emerging social technologies. Those that succeed in closing the social media skills gap will discover new ways to reach and retain customers, engage and recruit employees, and boost productivity. Those that fail will miss out on their chunk of a multitrillion-dollar pie, and might not be around long enough to regret it.

Big Data Trends | Strategies driving investments in data

imgresLast year, IDG published a study 2015 Big Data and Analytics, Insights into Initiatives and Strategies Driving Data Investments that was based on interviews with 1,139 IT leaders from nine industries with high tech (16%), government (12%), financial services (11%) and manufacturing (9%) being the top four industries surveyed.

 

Key findings Infographic:

Below are a few key take-aways, the report is embedded at the bottom of this post:

  • 80% of enterprises surveyed have data-driven and big data projects in implementing or planning stages today versus 63% of SMBs. 37% of enterprises have deployed data-driven projects in the last year, and 18% are in the process of implementing or piloting projects as of today.
  • 83% of organizations prioritized structured data initiatives as critical or high priority in 2015, and 36% increased their budgets for data-driven initiatives.
  • Improving the quality of decision making (61%), improving planning and forecasting (57%) and increasing the speed of decision making (51%) are the three most common business goals and objectives driving data-driven initiatives in organizations today. The following graphic compares which business initiatives are driving big data investment and the positive impact of big data on each.
  • 36% of enterprises expect their IT budget allocations for data-driven initiatives increased in 2015, 41% anticipated budget levels would remain at current levels and 21% aren’t sure. Only 3% say data-driven and big data-related project funding will decrease.
  • Data analytics continues to accelerate as the most preferred solution for gaining greater business insight and value from data, with this category increasing in importance 55% from 2014 survey results. In enterprises, data analytics (65%), visual dashboards (47%), data mining (43%), data warehousing (40%) and data quality (39%) are the five most preferred solutions. In my discussions with CIOs in financial services and manufacturing companies, the shift away from pre-built dashboards with common metrics and key performance indicators (KPIs) to the flexibility of defining their own data models in metrics is the future. Dashboards in financial institutions need to have the flexibility of quickly integrating entire new metrics and KPIs as their business models change. For manufacturers, the need for interpreting shop floor data to financial results is what’s driving data analysis and dashboards in the many manufacturing industries adopting analytics today.
  • The number of enterprises who have deployed/implemented data-driven projects increased 125% in the last year, with 42% still planning data implementations as of today. The following graphic from the study illustrates a comparison of 2014 and 2015 plans for considering, planning and implementing data-driven projects.

 

View the report here:

Download the IDG Report: 2015 Big Data and Analytics, Insights into Initiatives and Strategies Driving Data Investments

Europe’s Top Digital-Privacy Watchdog Zeros In on U.S. Tech Giants – The New York Times

NY TimesPARIS — The latest standoff between Europe and American tech companies runs through a quiet street just north of the Louvre Museum, past chic cafes and part of the French national library, to the ornate office of Isabelle Falque-Pierrotin.

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From here, Ms. Falque-Pierrotin has emerged as one of the most important watchdogs for how companies like Facebook and Google handle the billions of digital bits of personal data — like names, dates and contacts — routinely collected on Europeans. Since 2011, she has been France’s top privacy regulator, and for the last two years, she has led a group of European data-protection officials. In those posts, Ms. Falque-Pierrotin has regularly agitated companies to better safeguard people’s data.

Her role will come into even sharper focus in the coming weeks. Ms. Falque-Pierrotin, empowered by Europe’s highest court, will be at the heart of efforts to police how digital data is transferred outside of the European Union, a central aspect of many European and American businesses. That role will be amplified even further if, as is now widely expected, American and European negotiators fail to reach a new data-transferring deal by Feb.

Read more: Europe’s Top Digital-Privacy Watchdog Zeros In on U.S. Tech Giants – The New York Times

Big Data Trends | Strategies driving investments in data

IDG Enterprise logoLast year, IDG published a study 2015 Big Data and Analytics, Insights into Initiatives and Strategies Driving Data Investments that was based on interviews with 1,139 IT leaders from nine industries with high tech (16%), government (12%), financial services (11%) and manufacturing (9%) being the top four industries surveyed.

 

Key findings Infographic:

Below are a few key take-aways, the report is embedded at the bottom of this post:

  • 80% of enterprises surveyed have data-driven and big data projects in implementing or planning stages today versus 63% of SMBs. 37% of enterprises have deployed data-driven projects in the last year, and 18% are in the process of implementing or piloting projects as of today.
  • 83% of organizations prioritized structured data initiatives as critical or high priority in 2015, and 36% increased their budgets for data-driven initiatives.
  • Improving the quality of decision making (61%), improving planning and forecasting (57%) and increasing the speed of decision making (51%) are the three most common business goals and objectives driving data-driven initiatives in organizations today. The following graphic compares which business initiatives are driving big data investment and the positive impact of big data on each.
  • 36% of enterprises expect their IT budget allocations for data-driven initiatives increased in 2015, 41% anticipated budget levels would remain at current levels and 21% aren’t sure. Only 3% say data-driven and big data-related project funding will decrease.
  • Data analytics continues to accelerate as the most preferred solution for gaining greater business insight and value from data, with this category increasing in importance 55% from 2014 survey results. In enterprises, data analytics (65%), visual dashboards (47%), data mining (43%), data warehousing (40%) and data quality (39%) are the five most preferred solutions. In my discussions with CIOs in financial services and manufacturing companies, the shift away from pre-built dashboards with common metrics and key performance indicators (KPIs) to the flexibility of defining their own data models in metrics is the future. Dashboards in financial institutions need to have the flexibility of quickly integrating entire new metrics and KPIs as their business models change. For manufacturers, the need for interpreting shop floor data to financial results is what’s driving data analysis and dashboards in the many manufacturing industries adopting analytics today.
  • The number of enterprises who have deployed/implemented data-driven projects increased 125% in the last year, with 42% still planning data implementations as of today. The following graphic from the study illustrates a comparison of 2014 and 2015 plans for considering, planning and implementing data-driven projects.

 

View the report here:

Download the IDG Report: 2015 Big Data and Analytics, Insights into Initiatives and Strategies Driving Data Investments

Why 84% Of Companies Fail At Digital Transformation – Forbes

Many large companies are faced with trials and tribulations on their journeys towards digital transformation. PulsePoint Group’s Michael Gale sheds light on why they fail and how they can find success.

Source: Why 84% Of Companies Fail At Digital Transformation – Forbes

2016 Marketing Requires High Quality Data

Do Your 2016 Marketing Resolutions Include Achieving High Quality Data?

58% of marketers cite personalizing the customer experience as the most important objective of a data-driven marketing strategy, yet 57% say that improving data quality is the most challenging obstacle to data-driven marketing success. Data quality issues have challenged organizations for years, but it has now become a huge issue and responsibility that is impacting every area of marketing.

Source: 2016 Marketing Requires High Quality Data

When to Buy Data

The quality of a company’s data will have a direct impact on the performance of its people, process and technology. Maintaining the quality, timeliness, and completeness of a company’s data will often require working with external data suppliers.

The decision to buy data should only happen after a data assessment, gap analysis and cost benefit analysis have been completed…

The Data Assessment – is an iterative process that aligns to company’s data strategy and go to market plan, and involves:

  • Identifying all data sources
  • Reviewing the data collection procedures
  • Interviewing those responsible for data and analysis
  • Analyzing sample data for quality
  • Setting segmentation based on personas
  • Documenting business process

 

Data assessments provide qualitative and quantitative insights into data’s…

  • Reliability – Data provides stable and consistent collection processes and analysis
    methods.
  • Validity – Data should clearly and adequately represent the intended result.
  • Timeliness – Data should be available at a useful frequency, should be current, and should be
    timely enough to influence management decision making.
  • Precision – Data have a sufficient level of detail to permit management decision making.

 

Gap Analysis – A gap analysis will identify missing, incomplete or inaccurate data through the data assessment process. Below are examples where data may need to be acquired:GapAnalysis

  • Information missing pertains to specific individuals (i.e. email addresses, phone numbers,etc.)
  • Behavioral information like purchasing patterns, memberships and affiliations, technologies used, etc.
  • Credit score and risk rating
  • Online search history unavailable (cookies, device information, etc.)

 

cost_benefit_analysisCost Benefit Analysis – Justifies the decision to buy data using the findings from the gap analysis and data assessment. It is a comparison of the costs of all options against their total anticipated benefits.

DataQualityWhen to buy data | Cleanse, Enrich, Acquire?

Quality data continues to be a challenge for companies today, and buying data does not guarantee its quality. When using purchasing data from a new supplier start small, inspect the data, and test performance.

Work with major data vendors that are known suppliers of quality consumer and business information. Major suppliers like D&B, InfoGroup, Experian, Equifax, TransUnion, Acxiom, and TeraData are able to provide consumer or business level intelligence that includes their interests, spending patterns, financial information, demographics, firmographic information, and so on.

 

Why Marketers Should Consider Artificial Intelligence When Reaching Out To Consumers

Robots are often the first point of contact in the process of customer engagement.

Source: Why Marketers Should Consider Artificial Intelligence When Reaching Out To Consumers