Published: 07 June 2023
Organizations collectively spend billions to acquire, store, govern, analyze and activate customer data, but rarely examine the risk that these efforts may fail to produce profitable results. CMOs must take urgent action before the economic viability of customer data collection disappears entirely.
This Maverick research contradicts the prevailing wisdom that increasing the collection of first-party customer data is a profitable activity that organizations should prioritize. Its findings and advice should therefore be treated with caution.
For decades, organizations have invested heavily in first-party data, relying on the conventional wisdom that the more first-party data collected, the more their profits would grow. They were wrong.
The vast majority of digital experiences are forgettable and don’t sufficiently help customers enough to overcome the rising costs to produce and execute those experiences.
The costs for technology, content production and marketing program management are
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