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Product & Service Customization: Increasing Conversions Through Differentiation | Innovation Edge

Product & Service Customization: Increasing Conversions Through Differentiation | Innovation Edge | The Marteq Alert | Scoop.it

Salesforce recently shared that 66% of customers expect companies to understand their unique needs and desires and numerous studies indicate that customized marketing messages lead to elevated conversion rates, heightened customer loyalty, and enhanced customer satisfaction.

 

This is particularly evident in the fashion and beauty industry where brands are championing personalized experiences, but according to McKinsey & Company, 80% of B2B buyers now expect the same buying experience as B2C customers.

 

Today's consumers demand personalized products and experiences, with studies showing a significant preference for customization in marketing, leading to higher conversion rates and customer loyalty. This trend is now extending from B2C to B2B sectors, with companies like Dynamic Yield leveraging algorithms for personalization, resulting in substantial increases in engagement metrics. The focus is shifting towards collecting and utilizing zero-party and first-party data for creating personalized online experiences, with an expectation for heightened data accuracy and demand moving into 2024.

Marteq's insight:

The article underscores the increasing importance of personalization in both B2C and B2B sectors, facilitated by advanced data use, including cross-web clickstream data. Such data can refine personalization strategies, enhancing user engagement and loyalty. For comprehensive strategies on leveraging cross-web clickstream data, download the Consumer Data Types Cheat Sheet at https://www.marteq.io.

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Legal Tech's Predictions for Data Privacy in 2024 | Law.com

Legal Tech's Predictions for Data Privacy in 2024 | Law.com | The Marteq Alert | Scoop.it

The article on Legaltech News discusses predictions for data privacy in 2024, focusing on the evolving legal landscape. It explores the challenges and opportunities associated with biometric data, online child safety, and the protection of personal identifiable information (PII). The article emphasizes the increasing sophistication of tools used by bad actors to access personal data and the growing responsibility of organizations to protect consumer information.

Marteq's insight:

Cross-web clickstream data, providing comprehensive insights into consumer behavior, is crucial in navigating the complex data privacy landscape outlined. Its detailed and wide-ranging nature aligns with the need for robust data protection and ethical management. VoxTrack.ai's Consumer Data Types Cheat Sheet, available at https://voxtrack.ai, offers valuable insights into using such data effectively in this increasingly privacy-conscious world.

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Big List of Community Powered Marketing Stats | Tint

Big List of Community Powered Marketing Stats | Tint | The Marteq Alert | Scoop.it
You are tuning in to the community powered marketing revolution already in progress; welcome to the 2024 Big List of community powered Marketing Statistics. The statistics on this list represent the culmination of over a year’s worth of research, with other supporting data included for context. Online communities have become pivotal for facilitating authentic interactions.
Marteq's insight:

There are excellent stats in this list to support your arguments, however, the original source is not provided so I doubt you can use them in a position paper. The data in the image above connects to the advantages of cross-web clickstream data, and you can download the Consumer Data Types Cheat Sheet from VoxTrack.ai, located at https://www.voxtrack.ai/consumer-data-types-cheat-sheet.

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Banner Ads Fading, But Email Works Great In New Marketing Tech Era | Forbes

The article discusses the shift in marketing strategies towards first-party data and relationship marketing due to consumer privacy concerns. Marketers are moving away from third-party cookies and banner ads, focusing on direct customer relationships through email and SMS/MMS messaging. The study by Marigold and Econsultancy shows a preference for personalized content from trusted brands, with a high sell-through rate for email pitches. The emphasis is on understanding consumers and meeting their unique needs, with loyalty programs playing a significant role in building trust.

Marteq's insight:

The article's main point is the shift toward first-party data and building direct customer relationships in marketing. However, cross-web clickstream data offers a wider view of customer interactions across multiple platforms, providing deeper insights into consumer behaviors and preferences. This broader understanding can enhance targeting and personalization in marketing strategies, making them more effective and efficient.

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The data on data (and how to collect it better) | Typeform

The data on data (and how to collect it better) | Typeform | The Marteq Alert | Scoop.it

Typeform, a conversational data collection platform, released The Data On Data Report showcasing insights for creating effective forms and surveys. The report highlights the shift towards zero-party data collection due to privacy concerns and the decline of third-party cookies. In 2023, Typeform saw over 2.6 million forms published and 568 million submissions, with a 47.3% average completion rate:

 

  1. Incorporate visuals: Forms that feature images or video see a 120.6% increase in completion rates over forms that don't. 
  2. Keep forms to six questions or fewer: Forms with the highest number of responses asked fewer than six questions.
  3. Use multiple-choice questions: Typeform customers use multiple-choice questions nearly twice as often as the second-most popular question type, short text questions.
  4. Include 'exclusive' language: Forms that use phrases such as "be the first," "get early access," "members only," "only available," among others, yield 25% higher completion rates. 
  5. Use numbers at the start: Using a number within the welcome content provides clarity and boosts confidence, leading to a 7% increase in completion rates. 
Marteq's insight:

Cross-web clickstream data aligns with the main point of the article by offering an alternative to traditional data collection methods, focusing on direct consumer engagement and behavior analysis. This approach is particularly relevant for marketers seeking to personalize their strategies in a privacy-centric landscape. The Consumer Data Types Cheat Sheet available at https://www.voxtrack.ai offers valuable insights into different types of consumer data, including cross-web clickstream data, aiding marketers in crafting effective, privacy-compliant strategies.

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B2B GTM Teams to Focus on Alignment, Efficiency

B2B GTM Teams to Focus on Alignment, Efficiency | The Marteq Alert | Scoop.it

The article from Marketing Charts discusses the priorities for B2B go-to-market (GTM) teams in the coming year, emphasizing the importance of aligning marketing, sales, and customer success. It identifies efficiency as a key area for improvement and explores the growing role of artificial intelligence (AI) in areas like market research, target audience segmentation, and alignment of marketing, sales, and customer success. The article also notes that only a minority of respondents are currently using AI extensively, suggesting potential for growth in this area.

 

Marteq's insight:

The emphasis on alignment and efficiency in GTM strategies is crucial for B2B companies seeking to optimize their operations. AI's increasing role in marketing strategies indicates a significant shift towards more data-driven and automated approaches. The article suggests that while AI adoption in GTM is still emerging, its importance is recognized and expected to grow.

 

Recognized as a top MarTech Influencer, Joemktg brings a wealth of experience crafting and executing product launches, lead gen and go-to-market strategies designed to drive revenue. See our profile on UpWork: https://www.upwork.com/freelancers/~01a2acbcab42a2e1dd?viewMode=1&s=1017484851352698974.

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Digital Marketing Trends Set To Make An Impact in 2024 - RGC

Digital Marketing Trends Set To Make An Impact in 2024 - RGC | The Marteq Alert | Scoop.it
By 2024, digital marketers will be navigating a landscape shaped by tougher privacy regulations and the dwindling use of third-party cookies. Consequently, the industry is moving towards valuing first-party data as the new standard.

The priority is now shifting to securing user consent and maintaining transparent data practices, with a strong focus on ethical data collection and storage. This approach includes adopting zero-party data collection and advertising that respects privacy. These practices are essential for building trust with consumers and will enable businesses to offer personalised experiences while safeguarding privacy. This shift is consistent with evolving regulations and the increasing consumer demand for responsible data management.
Marteq's insight:

The loss of third-party cookies necessitates a move to another consumer data source. Cross-web clickstream data is clearly the superior data source, and you can learn more here: https://www.voxtrack.ai/consumer-data-types-cheat-sheet

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MarTech Experts’ Top Predictions for 2024 | SAS

The article from SAS outlines key MarTech predictions for 2024, emphasizing responsible marketing, AI efficiencies, and compliance with data governance. It discusses the need for ethical practices and legal compliance in using customer data, highlighting the impact of regulations on data governance. The rise of Generative AI in enhancing productivity and creativity in marketing is noted, along with the increasing focus on tech aggregation by CMOs for improved MarTech integration. The article also explores the shift towards AI-driven conversational marketing and the importance of hyper-personalization in brand differentiation.

Marteq's insight:

Cross-web clickstream data represents an ethical, legally compliant method for data collection, aligning with the article's emphasis on responsible data use. This data type offers extensive insights while respecting privacy regulations, ensuring both efficacy and ethical standards in consumer data analysis.

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