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Paul Martin
Paul Martin

Dear Kresten,

You are spot on with the chasm between the value exchanges of data. Like you, I observe this everyday as a marketer and, perhaps most importantly, as a shopper and consumer. Two things came to mind while I was reading your thoughts on the potential and underutilization of technology.

Aimia’s research concluded, similarly to Econsultancy, that while a high number of people freely and willingly gave data to organizations, only 8% felt that they were receiving better offers as a result of sharing their details (source: Aimee Loyalty Lens Report 2015). That means, marketers are making huge mistakes in the exchange value of data. Two things came to mind while I was reading your analysis on the role of digital technology.

First, Ratan Tata announcing that he will enter the ecommerce market with TataCliq. This Goliath of industry seems to have crept in under the covers and now is ready to create an ecommerce powerhouse that can scale globally with very few barriers to entry. He’s set to become the David of all David’s:
• With his presence in offline retail and shopper outlets he has captured and built mega-databases that will provide engaging and encircling propositions.
• With his significant technology and consulting backbone he has rapid analytics and real-time measurement platforms that will use data to make experiences relevant and personal.
• With his 25 or so investments in complementary and sometimes competitive offerings, he has a deep understanding of the ecommerce business and the richness of the data relationships that will give customers a broader experience and learn more about them.
This is an industry-defining event.

Second, I’m impressed with authenticity, intelligence and humor of Gary Vaynerchuk. His Goliath standing of growing brands and businesses on social media is the sum of all his David’s across the primary platforms and the emerging ones. Data is a relationship and value journey, not a one-time trick. Gary captures that beautifully in his book “Jab, Jab, Jab, Right Hook” and I recommend it to everyone who wants to understand the psychology of value exchange in social media. Gary’s insights will close the gaps for online marketers in this value exchange economy.

The picture of the future you painted without change is bleak and a reality in many cases. Where there’s a gap, there’s a niche. And I think you are right that technology can defend those niches and create a better value exchange for marketers and consumers. Looking forward to hear and see what other think on this.

Cheers,
Paul

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