2018 Offers New and Old Marketing Data Challenges
As a data broker, AccuList USA is committed to helping its data services clients with data gathering, quality, targeting and analytics. Looking ahead to 2018, we see new and old data issues for direct marketers. A recent Forbes magazine interview with Tom Benton, the CEO of the Data & Marketing Association (DMA), highlighted six of those data challenges for next year.
Perennial Problems From Quality and Integration
Given the huge amount and types of data streaming into marketers, many are struggling to decide which data sets to use and which to ignore, how to keep data accurate and actionable, and how to integrate new data with existing data. Several practices for 2018 success are suggested: clear business goals and target audiences to narrow the data focus; a clear test case for examining or onboarding data; regular examination of new and legacy data accuracy and value; and systems for integrating new data with existing data, especially given the new types of data streams available–everything from wearable gym trackers to chatbots to grocery checkouts.
New Opportunities Via Technology
The Forbes overview also cites the exciting opportunities coming from new marketing tech tools, such as augmented reality (AR), machine learning and AI. Are you ready to take advantage? The articles offers the example of how 1-800-Flowers improved customer experience by integrating the company’s website with artificial intelligence (AI) technology and natural language processing to understand customer demand and then search the product catalog to deliver customized recommendations. Use of AR today ranges from AMC theater movie posters to Simmons Bedding Co. product demos to labels of Australia’s 19 Crimes wine brand. And consider that digital growth company Urban Airship has developed a machine learning algorithm to analyze mobile customer behavior and help app publishers identify the most loyal users and predict those that are likely to churn to improve retention investment in specific customer segments.
Challenges With Cybersecurity and European Rules
If customers don’t trust that sensitive information will be safeguarded, they’ll stop engaging, hurting not only individual brands but the data-driven community. Massive data security breaches made headlines in 2017. That makes data security a top concern to retain customers and prevent risk in 2018, per Benton. Meanwhile, American marketers who seek to tap European markets need to get ready for the enactment of the European Union’s new General Data Protection Regulation (GDPR), taking effect May of 2018. The regulations will set a new baseline for consumer privacy rights and focus on ensuring that proper consents are obtained for a range of data sets and that other privacy rights are observed, such as the “right to be forgotten.”
For more on 2018 data trends, read the Forbes article.
