Successful Data Monetization Strategy

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Successful Data Monetization Strategy

• Nick Jordan, founder and CEO of Narrative talks
  about customer loyalty and other factors in data
  monetization.

2
Data Monetization Strategy

• Having access to timely and relevant data informs
  decision-making and growth strategies for
  businesses across all industries. Like any other
  product, marketing is integral for a successful
  data monetization strategy.

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Global Data Monetization Market

• With the global data monetization market topping
  6 billion by 2025, the benefits of having a
  successful data monetization strategy are just
  too great to ignore. Data monetization increases
  the value of data, helps create partnerships,
  strengthens customer loyalty, and boosts revenue
  streams. And the exchange can help to reduce data
  latency and data discrepancies.

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Data Monetization

• But even if your data is out there on these
  exchanges, how will potential customers find your
  data? Simply listing your companys data on a
  data exchange wont guarantee its success or
  bring in new revenue. Very few products have ever
  become successful without the benefits of
  marketing, and data businesses are no different.

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First Steps to Monetizing Your Data -

• Innovative companies should strive towards
  monetizing data. But they shouldnt just focus on
  selling data to the highest bidder on a
  third-party selling form. Before you can actively
  market your data, take internal steps to
  accurately organize your datasets.

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Author - Nick Jordan, Founder and CEO of Narrative

• Nick Jordan, founder and CEO of Narrative talks
  about customer loyalty and other factors in data
  monetization. He underlines ecommerce as a pillar
  for potential customers to find businesses.
• For more such updates, check Out recent Martech
  Cube guest blogs.