All upside no downside 📈
This month, we’re zeroing in on data strategy and how marketers should be using it to supercharge their customer experience, personalized brand touchpoints, and more. Plus, we dig into how to unlock the transformative power of AI with The Loop.
In this edition 📥
Our feature focus this month 📸
It’s all upside when you access the GrowthLoop Live sessions
Did you join us earlier this week for the first-ever GrowthLoop Live? This virtual event brought together your peers in marketing and data to share their first-hand experiences, growing pains, and solutions on topics like data implementation, change management, unifying teams, and more.
If you missed the event, sign up here to receive the GrowthLoop Live Companion Guide, an all-access pass to every session!
Check out recordings and slides from sessions featuring NASCAR, Priceline, CHG Healthcare, The Kansas City Royals, and a keynote from Scott Brinker .
Psst: Watch a clip from Scott's keynote below.
Newsworthy notes 📰
Introducing: The Loop
We recently launched your new secret weapon for smarter marketing. What can The Loop do for you?
Ready to see what’s possible? The Loop is live and ready to transform your marketing.
This Month’s Leadership Lens 🔍
5 key areas to unlock the transformative power of AI
Recommended by LinkedIn
It’s no secret to modern marketers that companies are using AI to deliver personalized customer experiences. Tameem Iftikhar , CTO at GrowthLoop, explains how the true power of AI is not just in its capabilities but in the data strategy that fuels that AI . Having that well-structured data strategy in place enhances AI’s effectiveness and boosts real business outcomes, including increased ROI, improved customer loyalty, and quicker decision-making processes.
Tameem posits that marketers should focus on five key areas to unlock AI’s transformative power:
Create a data strategy to drive business success
Today’s marketers often have a surplus of data at their fingertips – and they may not always know where to start in using it most effectively. So, how can marketers turn an onslaught of valuable but raw customer data into ROI with personalized campaigns? According to Alex Sotis , director of data at GrowthLoop, the answer is to start with a comprehensive data strategy.
A data strategy is your organization’s plan for how you use data to generate value. That plan defines the technology, workflows, and data management tactics that support specific business goals. Watch the video below to learn how a data strategy benefits marketers.
Wondering how to get started with your organization's data strategy? Alex suggests breaking it down into five steps:
Retail media networks: The next frontier
A relatively new entrée to the ad space, retail media networks (RMNs) refer to major retailers who use their first-party customer data to create and operate their own advertising platforms. The biggest of these retail media players is Amazon, which earned $46.9 billion from advertising last year.
RMNs use first-party data to strategically engage customers at the right time in their customer journey. For example, a common tactic is to push a digital coupon via loyalty programs right as the customer is making a purchase. These coupon programs have been highly effective at boosting revenue. Or, consider the approach that retailers take when they sponsor certain products on e-commerce sites, connecting consumers with relevant products.
These networks aren’t without their challenges. One of the main challenges is a lack of transparency in reporting. Companies spending ad money need to know what exactly is moving the needle – and today’s retail media networks aren’t always delivering granular information in this area. Learn more about RMNs and how to connect them to your data cloud for better data and reporting outcomes.
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