Since working in marketing for over 10 years the holy grail for every organisation is to have a single customer view; a platform where they can store millions of different data points about their customers that can be viewed in one place. Marketers and I.T departments globally have invested billions of dollars in data lakes, data warehouses, DMPs, CDPs and the list goes on and on.
What if as an industry we got it all wrong?
I am loyal to around 4 brands; Apple, Nike, Brixton & Woolworths. I buy all my technology at Apple, shoes at Nike, hats at Brixton and groceries at Woolworths. Every single one of these businesses have a different perspective on Billy Loizou. Im sure all my demographic information is the same but there would be differences in almost every other data set. I don't mind receiving marketing material from these brands through email or social, BUT all of a sudden every Tom, Dick & Harry brand wants to use any of my 'so called' publicly available data through social platforms or via media agencies to target me. I get it, sometimes it's effective but I have never given you permission to message me, so now it has just become extremely annoying.
With GDPR soon to be mandated globally, Facebook getting dragged over the coals for their most recent behaviour with Cambridge Analytica and allowing anyone to be searchable with their security mobile number - TRUST is at an all time low with consumers and data SECURITY is at all time high with businesses.
What if we flipped the data value exchange model upside down?
Imagine a world where YOU the customer owned your data and had a single brand view; a platform where you can store all the different data points brands have about you in one place. You control and manage a simple profile of all your information and decide what data can be used for marketing and targeting purposes. Any change you make to your address, preferences, interests, subscription, updates every database you are apart of - or the brands that want to target you have to access this secure database which you control.
All of a sudden this model changes how business start paying for advertising, instead of paying media agencies and social giants to target "customers who may be interested in blah blah blah" - they pay you the REAL customer. Not only do you have complete control of your data but you also can get paid to be advertised to. I personally think a world like this is achievable.
Im a dreamer, if you are too I would love to connect over a coffee and chat anything to do with marketing.