Date Published: August 23, 2022
What do RMNs mean for data privacy?
In October 2021, Apple...(56% of the U.S. smartphone market) gave users the choice of whether apps could track users.
Overnight, Meta estimated losing more than 30% accuracy on their targeting algorithms.
In 2022, companies must spend $1.30 to get the same effectiveness as $1 of spending in 2021.
That is why today, first-party data generated by retail media networks (RMNs) is increasingly valuable.
So how do B2B organizations combat this?
According to Bain & Company:
"They build a rich store of first-party data, surround it with the blanket of consent, and leverage that data to send targeted messages to prospects and existing customers."
This data is found in:
• Existing data in CRM systems
• Opt-in marketing through email and SMS
• Contact capture at point of sale
• Data-capture focused advertising (e.g. driving to lead forms)
"You can opt in anytime you want, but you can never leave..."
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