Both regulators and consumers are demanding changes to data protection , and the marketing world is caught in the middle of a back-and-forth.
Fortunately, those in charge are aware of this and are giving their marketing teams the budget they need to try out alternative Marketing budgets increase measurement and advertising solutions.
Nearly half (48%) of marketers say their budget has changed this year to accommodate data privacy measures, with 71% saying their marketing budget has increased.
But, to quote Uncle Ben, a wise old man, a big budget also brings with it big responsibilities —and sometimes a host of challenges.
The use of proprietary data and associated challenges Marketing budgets increase
“Building and deploying data across different environments has n’t always been easy or seamless ,” admits Combette.
Often, marketers need to collect data with one toolset, analyze it with another , and then use those insights in a third .
So it is perhaps no surprise that our industry email list research reveals the following:
Fortunately, we have a roadmap —created by Christophe Combette using our own data—for fast, powerful, and easy collection and use of first-party data.
1. First, ask yourself what data you actually need
Don’t scroll past this. This isn’t just a casual comment; this is actually the most important step .
If you’re familiar with using third-party identifiers to drive your marketing, you know that you can’t just collect them haphazardly and then hope you’ll remember what to do with them later. It always starts with a specific use case in mind .
Maybe it’s targeted social media advertising or cross-platform tracking. The data you collect has a purpose .
Why should proprietary data be any different just because it’s freely available? However, if you collect all kinds of proprietary data without considering its intended use, you’re more likely to violate privacy . It also easily future prospects of cdn shield creates a data clutter that helps no one.
Instead, start with your business goals and work backward to the data you actually need.
2. Check your data sources
Now that you know what data you need, you need to consider where it should come from.
“We are all consumers ourselves. We use apps, the internet, we make phone calls, and we send text messages. Sometimes I even chat online,” says Combette. “We have a wealth of online touchpoints .”
Each of them tells you something unique about your potential and existing customers.
“So the key to everything is having a technical infrastructure that provides a 360-degree view of each customer.”
This means collecting data from multiple high-quality sources . Below are the touchpoints that the marketers surveyed believe provide the best quality for proprietary data:
- Customers who register with your company or create an account to sign up for content, discounts, or newsletters (36%)
- Information collected during the purchase process (28%)
- Customer interactions with text services customer support channels (20%)
- Social media interactions , such as likes, comments, shares, etc. (16%)
You’ll find that the highest-quality sources are usually also those with the highest levels of endorsement . This means you’ll have to do some convincing. This brings me to my next point.