Monday, March 26, 2018

The Full Monty: Damage Control – March 26, 2018


The Facebook crisis has opened up a debate about data and regulations; China will never catch the US in AI; the 10 machine learning algorithms you need to know; Uber halt; bans on cryptocurrency ads from a number of platforms; a duopoly becomes a triopoly (is that a thing?); the most reputable brands; Amazon eats everything; what's fueling the retail apocalypse (it's not lack of innovation); Instagram catches up with the times; a new digital strategy for NBC; streaming music needs to follow Netflix's lead; Airbnb is far from mainstream; marketers need to take data in-house; measuring meaningful interactions; why introverts are natural disruptors; and more in the Damage Control edition of The Full Monty from Brain+Trust Partners for the week of March 26, 2018.



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Top Stories

We initially meant to talk about a study just released by the Pew Research Center that reported that a quarter of Americans are online almost constantly, coupled with an experiment by ABC News that showed what happens when kids have no screen time limits for 48 hours. Taken together, both pieces indicate the potential damage that technology can do to us, without proper oversight.

And while that point still remains, there's another story that has dominated the news cycle for the past week that also addresses the intended and unintended consequence of unmonitored technology: the Cambridge Analytica / Facebook story. In case you've been disconnected, here's everything you need to know about the issue. Let's be clear about one thing: this was not a data breach; this was an  exploitation of what Facebook had made available; it's something that marketers were aware of and using themselves and it's far from being unique to Facebook: it's Amazon, it's Angry Birds, it's eBay –it's every service you use that's free.

Companies are guilty of giving away their own data or access to data about their customers as well. Any company that has made its products available on Amazon loses the opportunity to have a 1:1 relationship with them. By pouring money into Facebook advertising rather than your own email marketing database, they miss the obvious opportunity to speak directly with their customers. They let the middleman own the process and the data (because it's easier) rather than take on the responsibility themselves. This is exactly why we counsel our clients to #OwnYourData.

We're either woefully ignorant about the terms of service or end user license agreements (EULAs) that we "agree" to, with as much thought as a swipe right or left, or we're willingly giving up our rights in exchange for the free use of a platform. As Shelly Palmer wrote, "we [as a society] need to raise our level of data maturity." When the regulatory process begins – and it will begin soon – we need to do it from an informed perspective.

We've got more to say on Facebook's response and what it says about their leadership later this week. Please subscribe to the Brain+Trust Partners blog to be updated when it's published.


We have a number of other articles on this issue in the Top Stories section of The Full Monty on Flipboard.




Artificial Intelligence / Autonomous

The latest in AI, machine learning, bots, and blockchain, mobility, and autonomous everything.

ARTIFICIAL INTELLIGENCE / MACHINE LEARNING

AUTONOMOUS / MOBILITY


BLOCKCHAIN

 


Communications / Marketing / Business Strategy

Industry developments and trends, including advertising & marketing, journalism, customer experience, content, and influencer relations.

STRATEGY / MARKETING / CONTENT

JOURNALISM / COMMUNICATIONS / REPUTATION



Retail Apocalypse

Humans are a transactional species, and the practice — if not the very notion of what retail is  is undergoing a historical metamorphosis. 


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Platforms 

News to know about relevant social, virtual, and augmented reality platforms that may affect your business.

TWITTER

FACEBOOK / INSTAGRAM / WHATSAPP

ALPHABET / GOOGLE/ YOUTUBE




Media

The latest in the world of streaming video, audio, and the advertising, pricing and bundling models related to them.

VIDEO

AUDIO

  • iHeartRadio's parent company is filing for bankruptcy. It has about $20 billion of debt on its books after a $17.9 billion leveraged buyout by private equity in 2008 just before the financial crisis slammed business. See? Another LBO.
  • Apple Music's Jimmy Iovine says that streaming music services are too similar – and like their video counterparts, need to feature different content.
  • Is Spotify the next company to get into smart speakers? Spotify is testing voice commands with a small group of users.
  • Program of the Week: This week's show is the Waking Up Podcast. Join Sam Harris –neuroscientist, philosopher, and best-selling author – as he explores some of the most important questions about the human mind, society, and current events. Do you have a program to recommend? Add yours to our Google Sheet: smonty.co/yourpodcasts.  
Don't forget to subscribe to The Difference from Brain+Trust Partners!

 

Regulatory / Security 

Business disruptions in the legal, regulatory, and computer security fields, from hacking to the on-demand economy and more.

SECURITY / HACKING

    ON-DEMAND ECONOMY


    Measurement / Analytics / Data

    The future is not in plastics, but in data. Those who know how to measure and analyze it will rule the world.
    • Many marketers continue to outsource their data management. But new GDPR regulations mean that marketers have to familiarize themselves with new types of tech vendors like customer data platforms, which exclusively focus on managing and storing first-party data. #OwnYourData
    It's time for marketers to get familiar with CDPs. Click to tweet this.


    Mental Nourishment

    Other links to help you reflect, improve, or simply learn something new.



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    Top image credit: The Course of the Empire - Savage State by Thomas Cole (public domain)

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