🎛️ With DAM, don't make this big mistake

Plus, how e.l.f. Beauty chose and implemented a CDP To view this email as a web page, [click here]() Oct 14, 2021 [Martech: Martech is Marketing]() Good morning, Marketer, and why is it so important for brands to build up and closely guard their first-party data? There are many reasons, not just one. But one of the most important reasons is so that marketers can unlock the value in their data. And they shouldn’t hand over that value to other companies if they can help it. That sounds like common sense. But [the new report on Amazon’s purported practices]() using transactional and product data to create knock-off brands that undercut those brands that sell on Amazon is a stellar example of the value brands gain in their customer relationships, and why that valuable data should be held close to the vest. With the proliferation of new digital channels and technology, there are more ways than ever to connect directly with your customers. Advertising and selling within a walled garden is expensive enough without factoring in all the value you lose by giving up control over the data when your customers interact on a giant third-party site. Chris Wood,Editor Management DAM is more than a tech tool In the first of a series of articles on getting digital asset management, DAM consultant Mark Davey emphasizes that preparedness is the key to DAM success. Fact one: “Digital Asset Management is a metadata engine that can drive your content through a myriad of channels on a ton of devices with the automation and analytics your business needs to compete today and in future digital ecosystems.” Mistake one: “Everyone goes looking for a vendor first.” Technology is only a small part of getting DAM right. A lack of preparedness, meaning siloed stakeholders, reluctance to change, and no overall digital transformation strategy, can’t be compensated for by the choice of a DAM solution. “DAM is a little different from buying a traditional piece of software to run your workflows and processes,” he writes. “DAM is not only a software tool; it is a strategy that needs project management, change management and a vision, with the right resources necessary to drive it.” This series will examine each aspect of DAM from a strategic standpoint, what the client needs to do in terms of preparedness, and getting management buy-in with the right metrics, including the project management implications of an end-to-end content lifecycle process. [Read more here.]() [How Dennis Publishing made first-party data core to its business transformation]() While many companies struggled to adapt during the pandemic, Dennis Publishing, the parent company of popular media brands like Kiplinger, The Week, several automotive publications, among others, decided to prioritize business transformation and find new ways to drive growth through audience monetization. And its strategy is paying off. [Read more. »]() Transformation Choosing and implementing a CDP Given the changing marketing landscape, having a holistic understanding of customers is essential. This is why more businesses are turning to customer data platforms (CDPs) to help improve their efforts. “Last year, 2020, just accelerated the digital growth across the world,” said Ekta Chopra, CDO at e.l.f. Beauty, in her recent MarTech presentation. “You’re swimming in data, but 75% of that data is not actionable. 13% is aggregated and everything else is probably not. And 44% of the data is not real-time.” Storing and collecting vast amounts of customer data isn’t enough. Your organization’s CDP needs to provide actionable insights as well. [Read more here](). Webinar: Growth Strategies for SMBs and the Agencies That Serve Them CallRail surveyed 600 US-based businesses across various industries and is ready to share how SMBs position themselves for growth and where they need help, including tactics like paid search, SEO, website development, blogging and attaining customer reviews. Join this webinar where you’ll learn what the most effective marketing channels are for SMBs and where SMBs are investing their marketing dollars in 2022 and beyond. [Learn more. »]() Data CDPs and CRMs, some ground rules Responding to Editorial Director Kim Davis’s editorial in [yesterday’s Daily Brief](), “I say CDP, you say CRM,” David Raab, founder of the CDP Institute, took Kim to task for perpetuating some confusion. With his permission, we published his comments. You do your readers a huge disservice by conflating CDP and CRM. Yes, both store customer data – as do data lakes, data warehouses, marketing automation, email engines, personalization tools, web content managers, and a host of other systems. Each of those is designed for a specific purpose and stores customer data in a way that fits that purpose. CRM also has its own purpose – to support sales and service agents when speaking with customers – and is optimized for it. CRMs are notoriously bad at dealing with data that was imported from elsewhere, and with unstructured and semi-structured data types. They’re generally poor at sharing their data with other systems. CDP has a different purpose – to combine all customer data into shareable profiles. [Read more here.]() Discover dozens of time-saving, profit-boosting solutions... all for free More and more, the key to solving critical marketing and marketing ops challenges is marketing technology. But with 7,000+ solutions on the market, finding the right one for your needs can be overwhelming. MarTech makes it easy. Discover dozens of time-saving, profit-boosting solutions and the actionable tactics to effectively leverage them… all in one place, all without leaving your desk, and all for free. [Register for free »]() Quote of the day “As consumers demand more transparency, and new laws and regulations come into effect, brands must reconsider their data practices and think beyond legal compliance to stay in the game.” Priscilla Debar, Associate General Counsel, Acoustic (in her [recent MarTech conference talk, free registration required]()) [Martech: Martech is Marketing] [() Information on Advertising/Sponsorship [here]() This email was sent to {EMAIL}. [Unsubscribe.]() [We respect your privacy.]() This email was sent by: MarTech - a Third Door Media, Inc. publication with headquarters at 88 Schoolhouse Road, PO Box 3103, Edgartown, MA 02539 [Manage my subscriptions.]() © 2006-2021 Third Door Media. All Rights Reserved.