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10 Predictions For Retail In 2019

10 Predictions For Retail In 2019 | The CYDigital Blog | Scoop.it
1. Retailers Will Get Personal with Zero-Party Data

Consumers are becoming more aware of their rights thanks to Facebook and GDPR, which is making way for a new age of privacy and personalization. If 2018 was the year that marketers were forced to wean themselves off third-party data sets, 2019 will be the year they shift to “zero-party data.” Zero-party data is information intentionally shared by the consumer, which is empowering marketers to build direct relationships with consumers, and, in turn, better personalize their marketing efforts, services, offers and product recommendations without the guesswork.


A recent survey found that 64 percent of consumers are actually fine with retailers saving purchase history and personal preferences if more personalization is offered. Forrester agrees, noting in a recent report that it is possible for personalization and privacy to coexist, and in 2019, the industry will “say goodbye to third-party data and hello to zero-party data. Data customers own and willingly provide to brands.”
CYDigital/marteq.io's insight:

The first prediction from this Forbes contributor: all about zero-party data.

 

Curated by CYDigital: enabling Consumers to capture, control and profit from their data. https://cyd.digital. Follow this blog: https://www.scoop.it/t/the-cydigital-blog.

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Dear brands, I think we need to talk about data

Dear brands, I think we need to talk about data | The CYDigital Blog | Scoop.it
I need you to forget everything you thought you knew about me. Stop trying to consolidate conflicting data you have on me and wipe the slate clean. From now on it has to be zero-party data, directly from me.

If you let me in and give me control of what I’m willing to share, imagine how close it could make us. Imagine how relevant you would become if the data you have is clean and up to date.
CYDigital/marteq.io's insight:

The fastest path to a profitable relationship with the Consumer: zero party data.

 

Curated by CYDigital: enabling Consumers to capture, control and profit from their data. https://cyd.digital. Follow this blog: https://www.scoop.it/t/the-cydigital-blog.

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How Blockchain Technology Can Change B2B for the Better

How Blockchain Technology Can Change B2B for the Better | The CYDigital Blog | Scoop.it

Because blockchain automatically checks itself, it acts like a self-auditing system of digital value. The network reconciles every transaction that happens in ten-minute intervals. Each group of these transactions are referred to as a “block”.

The two important takeaways from this are:

Transparency data is embedded within the network and is public.

  • This data cannot be corrupted.
  • The benefit for B2B is secure and safe transactions.

Due to the way data is stored, you and your partner can be assured it can no longer be manipulated in any way that could damage you. The data is not the property of anyone, rather it belongs to both businesses involved.

CYDigital/marteq.io's insight:

Curated by CYDigital: enabling Consumers to capture, control and profit from their data. https://cyd.digital. Follow this blog: https://www.scoop.it/t/the-cydigital-blog.

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Forget Third-Party Data. You're Already Missing Out on Most of Your First-Party Data

Forget Third-Party Data. You're Already Missing Out on Most of Your First-Party Data | The CYDigital Blog | Scoop.it
For companies looking to to take their marketing efforts to the next level through the use of data and sophisticated AI technologies, it’s time to let go of questionable third-party data practices and instead rely on first-party data. Making this shift now will prevent any future upheavals in your company's marketing activities that may occur as regulations controlling third-party data grow tighter and consumer tolerance for its use diminishes.
CYDigital/marteq.io's insight:

Marketers need to shift from 3rd party to ZERO party, not first party.

 

Curated by CYDigital: enabling Consumers to capture, control and profit from their data. https://cyd.digital. Follow this blog: https://www.scoop.it/t/the-cydigital-blog.

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How Much is Your Personal Data Worth?

How Much is Your Personal Data Worth? | The CYDigital Blog | Scoop.it
The biggest roadblock is the fact that consumers aren’t interested in completing surveys all day for no reason – they need an incentive to do so. To solve this problem, Opiria has decided to develop a platform on the Ethereum blockchain that allows consumers to use their data as a source of passive income.

With the blockchain-based platforms, consumers have far more privacy and agency. They can decide with whom to share or sell their personal data and receive fair compensation for it in return, all without having to trust a middleman.
CYDigital/marteq.io's insight:

The challenge is the data capture and ownership by the consumer. CYDigital has figured this out.

 

Curated by CYDigital: enabling Consumers to capture, control and profit from their data. https://cyd.digital. Follow this blog: https://www.scoop.it/t/the-cydigital-blog.

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Which? study shows consumers feel powerless about data collection - Telecompaper - telecompaper.com

Which? study shows consumers feel powerless about data collection - Telecompaper - telecompaper.com | The CYDigital Blog | Scoop.it
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