‘The power of data ownership: Getting it right in 2017’ – Martech Today
Josh Manion says, “Industry forecasts for marketing technology in 2017 will come fast and furious with the year’s end. But as we look ahead, a persistent issue confronts digital marketers of every stripe: data ownership.
Why is this topic at the top of the agenda for 2017? Owning your marketing data seems simple at first blush. But with every new channel, platform, device, and the combinations thereof, data ownership becomes more strategic and complex.
Consumers continue to expand the customer journey as a mix of interrelated touch points. As Forrester forecasts, for example, cross-channel sales are expected to grow to $1.8 trillion by 2018, more than four times larger than online sales by themselves.
By “cross-channel,” Forrester means the large numbers of sales influenced online but completed in-store. Deloitte chimed in with research reporting that 76 percent of respondents in its “Digital Divide” survey interact with brands before walking into a store.
To win in this game of buyer agility, marketers require a rigorous approach to data ownership delivering high-quality intelligence for marketing and advertising initiatives. First-party data drives customer acquisition and revenue, along with the analytics to optimize actions and defend budgets. It’s also essential to ensure data security and compliance with increasingly strict privacy regulations”.
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