by: George Lawton
In October I attendedDMA 2014(Direct Marketing Association’s annual conference), where there were over 2200 attendees representing 30+ countries; tons of interesting sessions.
Understandably, you couldn’t escape the preponderance of marketing buzzwords such as brand engagement, omni-channel, multi-channel orchestration, customer-centricity, and journey-centric marketing. Those of us in the compliance profession were heartened by the fact that keynote speakers also spent a surprising amount of time underscoring a very different set of buzzwords: responsible & ethical marketing practices, corporate responsibility, data governance, respect for privacy, transparency and trust.
There is no question that marketing has become more data-driven and technology-driven than in the past. And it really should come as no surprise that the marketing community is re-focusing on trust and ethics in order to overcome recent well-publicized data privacy and security lapses that have become so pervasive.
Banking organizations are certainly among those companies who are routinely amassing and leveraging huge amounts of data (Big Data) for many well-intended purposes. Companies make use of Big Data and information technologies to promote effective customer engagement, loyalty and segmentation. The goal is to improve customer experience strategies and create competitive advantages.
