Tuesday, December 19, 2017

2018 Marketers Face Old and New Data Issues

Direct marketers will face both old and new data challenges in 2018. A recent Forbes magazine interview with Tom Benton, the CEO of the Data & Marketing Association (DMA), highlighted six of those data hurdles for next year. The perennial problems of data quality and integration continue, worsened by the huge volume 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. But 2018 also offers potentially exciting opportunities via new marketing tech tools, such as augmented reality (AR), machine learning and AI. The Forbes 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. At the same time, marketers face tougher challenges in the areas of data security and privacy 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. After massive data security breaches made headlines in 2017, data security is a top concern to retain customers and prevent risk in 2018. Meanwhile, American marketers who seek to tap European markets need to get ready for the enactment of the European Union’s General Data Protection Regulation (GDPR), taking effect May of 2018, which will set a tough new baseline for consumer privacy rights. For more, see http://www.acculistusa.com/2018-offers-new-and-old-marketing-data-challenges/