Big data continues to confound the average marketer. The issue surrounds comprehending the data that matters.
Marketers need to understand how to use the technology. Big data has no value unless you can mine information sets to achieve better business outcomes.
Which data sets make for richer relationships with prospects and customers? How will it impact business? What should a marketer look for?
Go back to key performance indicators (KPIs). One worthwhile KPI might be return customers. Let’s apply that to both a hypothetical B2C and a B2B scenario.
If you are a retailer, instead of examining the immense amount of data produced from web site and social interactions, intentionally predetermine what will matter to your company. One thing we know about social media is that People Love Pets! They post pet pics, talk about them incessantly, and like everyone else’s pet pics.
Read More »The Dog Bowl of Big Data
The big digital media shift in 2013 has little to do with new mobile applications or social networks. Rather, it revolves around how brick and mortar businesses — and in particular stores and entertainment venues — integrate social into their physical brand experiences.
Some folks dub this trend Clicks and Mortar, the integration of online into our everyday physical whereabouts.
Recently, I attended the Ivy League Sports Symposium, and, whether it was MLB or the Tough Mudder franchise, everyone was talking about the live fan experience from a participation perspective. For example, new stadiums are developed with incredibly robust wifi networks for in game experiences.
The trend extends well beyond sports.
Burberry recently invested significant dollars to bring their online experience into its flagship London store. The effort includes some creative use of RFID chips to show video content about clothes that have been brought into changing rooms.
By focusing on the comprehensive user experience, research shows brands strengthen return on investment (ROI).
Forrester recently updated its Technographics profiles (made famous in the book Groundswell) for global social media consumption, surveying 95,000 consumers across 18 countries in North America, Europe, Asia and Latin America. One primary finding was the lack of commenting occurring in mature western markets, including the United States.
Adoption is pretty much complete in the U.S. (86%) and globally. Almost everyone who is online also is using or has used social media. Comscore recently corroborated this data, saying 83% of the world’s online population participates in social media.
But, most of us in the United States are not social and care not to converse. The Forrester report finds that 2/3 of the US adult social media population doesn’t comment. This is notable.
Commenting seems to have decreased over the past six years. Perhaps it’s because of the widespread proliferation of mobile media with smaller screens and touch input. It’s certainly harder to type in a blog comment or critique a product on a smartphone.
The Amazon Kindle Fire launched with great success this holiday season. Sales have outpaced Amazon’s forecasts, and manufacturing has stepped up. But the iPad competitor has quality issues with more than 30% of buyers rating the device negatively to neutral… Read More »Will Amazon Respect Its Kindle Fire Customers?
Marketers can learn from the horrible debt debate and the resulting downgrade of U.S. credit. The pursuit of personal and partisan agendas by all parties — but most notably Tea Party extremists and to a lesser extent liberal Democrats —… Read More »Winning Political Battles and Losing the Economic War