We tuned into Target Marketing’s “All About Marketing Tech” Virtual Conference, and left feeling inspired by the day’s conversations.
Here are three quick takeaways from the virtual conference:
1. Marketing is about strategy, not tactics.
Marketing has become much more strategic than ever before, with an emphasis on being proactive rather than reactive when it comes to planning campaigns and adopting new technologies. And the technologies themselves no longer operate in silos: they must work well together and integrate with the overall strategy and marketing vision, becoming strong revenue drivers.
2. People will pay for personalization.
According to today’s speakers, 79% of consumers will only do business with brands who show they understand and care about them – and 77% have paid more for a brand that provides a unique, personalized experience.
3. Unclean data adds up.1
Everyone knows that a bad list consisting of unclean data and inaccurate information results in a waste of resources, but even we were shocked by this staggering number: The national cost of poorly targeted mailings is $611 BILLION. And those inaccuracies are coming straight from the source: 93% of new movers file NCOA requests that need corrections, and retail customers make errors in 4.7% of the e-commerce forms they fill out. For a retailer sending approximately one million packages a year, that’s a loss of around $250,000.
Were you able to catch the show? Tell us what your top three takeaways were in the comments below!
Source
- Informatica, “Understanding the Costs of Bad Contact Data” https://www.informatica.com/lp/the-cost-of-bad-contact-data.html
