An Amazon shareholder is suing founder and executive chairman Jeff Bezos, along with current CEO Andy Jassy, CFO Brian Olsavsky, other executives and the entire board of directors, claiming misuse of customer data could lead to widespread mistrust and wreck the company.
How can retailers and CPG brands ensure successful collaboration to boost profits, protect margins and adapt to the digital landscape? Use these best practices in agreement lifecycle management to create an ecosystem based on trust and ongoing communication.
Brands now have little choice but to build marketing and advertising initiatives around first-party data that consumers freely opt to share. But there are rules – and I’m not referring to GDPR, CCPA, CPRA or any other privacy law. The rules center on establishing trust.
Opting for full third-party delivery for grocers came with many short-term advantages, allowing them to offer e-grocery solutions overnight. But this lucrative solution may not be sustainable for grocers who intend to make online an important part of their business. Owning the full omnichannel experience pays long-term dividends.
Money and reputation aren’t the only things at stake when consumer data isn’t collected and managed with a privacy-first approach. Marketing, customer experience and other teams risk losing control of the data and technology they need to improve engagement and drive growth as third-party cookies go away.
Premium loyalty program provider Clarus Commerce has acquired PrizeLogic to add rebate and promotion engine and rich first-party customer data as third-party tracking cookies are on the way out and Apple’s new iOS operating system severely limits marketers’ access to user activities. Terms were not disclosed.
Point Pickup, a provider of last-mile services for grocers, general merchandise and oversize goods, has acquired ecommerce platform GrocerKey, providing an end-to-end solution for retailers looking to own the customer experience and data often missing from third-party solutions like Instacart.
Long before DTCs and DNVBs rode social, mobile, and ecommerce to steal mindshare and market share, the earliest, largest CPG brands were built with broad reach on television. Ever since, a digital divide has separated winners and losers. Now, with streaming hot, TV has joined the upstarts in the CPG digital marketers’ basket.
While many CPG marketers now account for major consumer behavior shifts, the most successful seek to better understand and respond to trends in the context of their own product mix. Now a channel-agnostic approach to interpreting market signals most relevant to their own product mix is fueling smarter marketing decisions.
Customer data maintenance can keep efforts on track by ensuring that marketers have the best, most relevant information to drive decision making. For marketers looking to deliver big results in 2021, here are three ways data maintenance can support their efforts.