On October 5th DMCNY’s Luncheon had a panel discussion on Customer Data Onboarding! Panelist covered the Next Billion Dollar Market and how to securely and accurately connect so many different touchpoints and create a unified view of a customer.
Here is a great recap by Chet Dalzell:
Billion-Dollar Baby: Customer Data Onboarding
This blog post opens with a 2014 local TEDx talk of Dr. Charles Stryker, who left us unexpectedly last month. To say the least, “Charlie’s” legacy as a data innovator, business leader and financier is very much alive, well and profound. Dr. Stryker truly set a stage for what has transpired three years hence — and likely decades to come.
Last week, Bruce Biegel, senior managing director of Winterberry Group, led a Direct Marketing Club of New York discussion on “customer data onboarding.” It’s the process of linking offline data with online attributes (cookies, IP address, device IDs, non-cookie identifiers, among other identifiers) in order to perform any number of marketing use cases, what often is referred to as “data activation.”
These use cases for customer data onboarding most often include (but are not limited to) digital display targeting, “walled garden” targeting (such as ad targeting inside social media platforms), consumer analytics and insights, measurement and attribution, site personalization, and addressable television and online video targeting. (Readers, please don’t confuse customer data onboarding with customer onboarding — they are not interchangeable.)
Winterberry Group estimates this market to exceed $300 million today — but may eclipse $1 billion by 2020.
“Consumers are constantly connected,” Biegel said, noting each connection can generates volume and variety of data. “Today, the average consumer uses close to eight connected devices per day. One of my colleagues counts 22 connected devices!” Such connectivity generated close to 44 zettabytes of data in 2016 — and should more than quadruple that data generation to 180 zettabytes by 2020.
How do we structure these data to help recognize that customer from device to device in privacy responsible ways — to enable all these vital use cases? The answer, customer data onboarding.
It was a sold out event to learn about Customer Onboarding! Thanks Bruce Biegel @winterbury group for moderating!