Latest news with #customerdata
Fast Company
4 days ago
- Business
- Fast Company
Turn data into dollars
We have officially arrived in the era where e-commerce brands that prioritize smart, value-aligned engagement over mass media spend are owning the here and now—as well as the future. With traditional advertising under pressure to deliver a more definitive ROI, looming tariffs driving up the cost of everything, and consumer confidence lower than it's been since peak pandemic, we all need to make every dollar count. In addition, the CFO is more interested in marketing ROI than ever, and wants to see measurable results. The old playbook of more ads, more impressions, and more clicks has never really worked. In our exciting new reality, smart marketers do (a lot!) more with less and will more easily navigate the bumpy road ahead. Customer data is your gold mine Do you remember the years we were all obsessed with 'big data' (perhaps I'm showing my age). Now we have so much more data, but still, so many are unsure of how to unlock it in ways that delight customers and bring in meaningful new revenue. In comes AI, hurray! Knowing that it's easier—and less expensive—to keep existing consumers than to acquire new ones, leveraging that powerful first-party data is one strategy that will drive better results. Understanding which offers, products, and content your existing customers respond to, and how to present them in the most compelling and enticing way, lays a data-rich foundation for deeper engagement and sustainable growth. There is so much value hidden in e-commerce-owned channels. Checkout is unique because attention is highest and intent is clearest. Checkout is a perfect opportunity for brands to present relevant upsells and offers powered by first-party data. It's also a great time to drive incremental revenue by presenting strategic partner messages/products and loyalty nudges. Checkout interactions are the perfect environment for bringing in new revenue, increasing customer lifetime value, and capturing real attention and engagement. The next growth wave won't come from bigger budgets Too many ads create a noisy and less enjoyable checkout experience. Millennial and Gen Z consumers are more likely to reward brands that respect their time, attention, and preferences. Key digital moments like checkout, order tracking, and order thank yous are perfect opportunities for e-commerce merchants to present value-aligned, relevant offers that reinforce trust and drive repeat engagement. The next wave of growth won't be driven by spending more. The smartest marketers will extract more value from what already exists. Focusing on intelligent monetization and intentional engagement will allow e-commerce retailers to emerge from this challenge stronger and closer to their customers. Treating data as more than a record and checkout as more than a singular transaction will allow e-commerce retailers to unlock new revenue streams at zero additional cost.
CNA
23-05-2025
- Business
- CNA
Tata Consultancy Services carries out internal probe into M&S hack, FT reports
India's Tata Consultancy Services is conducting an internal investigation to determine whether it was the gateway for a cyberattack on UK's Marks and Spencer that compromised customer data and disrupted the retailer's operations, FT reported on Friday. The Indian IT company, which has provided services to M&S for more than a decade, hopes to conclude the probe by the end of the month, the report said, citing people familiar with the matter. Reuters could not immediately confirm the report. The cyberattack which M&S disclosed in April will cost the company about 300 million pounds ($404.9 million) in lost operating profit, and disruption to online services is likely until July. ($1 = 0.7409 pounds)
Reuters
23-05-2025
- Business
- Reuters
Tata Consultancy Services carries out internal probe into M&S hack, FT reports
May 23 (Reuters) - India's Tata Consultancy Services ( opens new tab is conducting an internal investigation to determine whether it was the gateway for a cyberattack on UK's Marks and Spencer (MKS.L), opens new tab that compromised customer data and disrupted the retailer's operations, FT reported on Friday. The Indian IT company, which has provided services to M&S for more than a decade, hopes to conclude the probe by the end of the month, the report said, citing people familiar with the matter. Reuters could not immediately confirm the report. M&S declined to comment and TCS did not immediately respond to a Reuters request for comment. The cyberattack which M&S disclosed in April will cost the company about 300 million pounds ($404.9 million) in lost operating profit, and disruption to online services is likely until July. ($1 = 0.7409 pounds)
RNZ News
19-05-2025
- Business
- RNZ News
Should banks be allowed to put fees on open banking?
Should banks be allowed to charge fintechs to access customer data? And could doing so stifle open banking innovations? Government officials are rethinking a proposal that would allow banks to charge financial technology platforms wanting to access customer data, such as budgeting apps. The move comes after MBIE's proposal to allow as much as $5 per month per customer drew the ire of many in the fintech sector - with some businesses saying the fees would threaten their viability. Lance Wiggs is an investor in the budgeting app Pocketsmith. He says the average customer would reach the proposed cap within 15 days, and the fee would make the business unviable. MBIE acknowledges the concerns and says it will provide more advice to the Commerce and Consumer Affairs Minister, Scott Simpson, ahead of a decision before December. Kathryn speaks to Lance Wiggs and Nick Houldsworth - co-founder of fintech Prosaic which provides an artificial intelligence tool to accountants, and Massey University Associate Professor of Banking, Claire Matthews. Photo: 123RF
Yahoo
18-05-2025
- Business
- Yahoo
Coinbase Hack Could Have Wide-Ranging Impact
Crypto trading platform Coinbase said a hacker demanded $20 million to delete illegally obtained customer data. Bloomberg's Margi Murphy explains how the hacker gained access to Coinbase's customer information and the potential cost of the incident. She speaks with Ed Ludlow on "Bloomberg Technology."
