The world is infinitely more complex and fragmented. With the emergence of digital channels, marketers have new challenges to address in terms of how to effectively navigate issues like ‘big data’ in the most effective way. As the lines between traditional and digital marketing disappear, there are many who insist that a singular focus can help understand the complexities of this new marketing era. Big data promises to enable marketers to effectively master the dizzying array of data and technology and enable marketers to make for better decision-making. But can it to turn digital data chaos into valuable, usable data for marketers? Continue reading
By Jonathan De Wet, CUBED Communications
CUBED recently managed a creative campaign for ADMA promoting one of their flagship events – Data Day 2012. Mike and I were lucky enough to score tickets to the event, and I have to say – what a stellar day it was!
The event was structured around the concept of “big data”, with presenters and workshops delving into this abstract notion. So what is big data? Big data is a term for data sets that are so large and complex that they become difficult to analyse, make sense of and generate insights from. Big data is growing fast. Really fast! In fact, if you were to collect every single piece of data from the dawn of civilisation to 2003, be it cave paintings, written word, film, computer coding, grandma’s recipe for apple strudel, there would be approximately 5 exabytes of data. Now, we create that amount of data every seven days. Wow right? And it’s getting bigger, faster.
With Regan Yan, Managing Director, Digital Alchemy
Some people argue that the first and only purpose of a company is to create and retain customers to sell their product or service? And furthermore, that this objective should be the ultimate entity that a company should consider when developing a marketing and sales strategy.
However, some might also bring the argument that a customer obsessive focus has a destructive impact on competition; when each competitor focuses on customer service and discounts rather than what can lead them to the sale and profit.
There is a balance to achieving the best of both worlds, and to focus your efforts on being a customer centric organisation in everything you do, whilst maximising profit.
We asked Regan Yan, Managing Director of database marketing services provider Digital Alchemy: How are customer centric organisations different? He said simply “because they make different decisions and choices. Many organisations Continue reading
Today most business’ products and prices are readily available on the web. For marketers, it is becoming more important than ever to understand how the modern buyer is pre-purchaseing researching to avoid being left behind. “These days, the power lies in the hands of the consumer,” notes Dave Smith, Strategist at Google.
As consumers are most likely to start the buying cycle on the internet, marketers need to stay one step ahead of the game and understand potential customers’ research patterns in order to capture their attention online. “If we don’t get on top of where our customers are researching and if we don’t investigate and understand their touch points, we run the risk of missing out on a lot of value and potentially losing a lot of acquisition,” says Smith.
By Heather Taylor, Editorial Director, Econsultancy US
Heather attended the Amazon Web Services Summit in New York last Thursday where Dr Werner Vogels, CTO, Amazon, gave the keynote speech highlighting how cloud services will transform how we do business. Here are her thoughts…..
Though some critics think cloud services may have unforeseen challenges, Vogals somewhat salesy keynote also had representatives of companies using Amazon cloud services come to the stage to say why the cloud is enabling their businesses to do things they could never do before.
As these (and most) businesses are discovering, a data revolution is taking place. The amount of information we need to process, map and store is growing at exponential rates. So in comes cloud services.
According to Vogels, the cloud is not just about saving money and doing things faster. It transforms what is possible. Everything fails all the time so you need to be able to be flexible. Throughout his keynote, Vogels highlighted seven transformations he thinks cloud services will make. Continue reading
Creating alignment between data and marketing professional may well be the key to unlocking the secret of successful data segmentation within businesses.
“As a starting point for success, data people need to get better at educating marketers and our businesses about what we do, what are models do and how they work,”
says Paul Dixon, Segmentation and Customer Data Manager at TruEnergy
Data segmentation is becoming increasingly important because if you do it right it allows you to communicate relevant and targeted messages to each segment identified. “It is the first step in trying to understand your customers,” Dixon notes. In a perfect world, segmentation will give you an insight into how your customers think, how they do things and how they might respond to your marketing or your product. Continue reading
Marketing has never been so dynamic: New techniques, emerging media, channel integration, cloud computing – we’re spoiled for choice. How can we fail to connect with our customers and delight them with so many clever interactive vehicles at our disposal? Simple. If you don’t have good data you’ve got nothing to drive your latest vehicle. No data, no driver.
Anyone who’s been in direct and digital marketing long enough will have a war story about the campaign that bombed because of the data – out-of-date, incomplete, irrelevant, incorrect, non-compliant, sparse – the list goes on. So make sure your driver is in good shape before you get too excited about what the vehicle can do.
Set aside the IT infrastructure aspect of database management for a moment and think about the data. Your data needs to excel in three basic ways: breadth, depth and quality. Continue reading
By Linda Hausken, ADMA
Creating alignment between data professionals and marketers may well be the key to unlocking the secret of successful data segmentation and its value within businesses. “As a starting point for success, data people need to get better at educating marketers and our businesses about what we do, what models we use and how they work,” says Paul Dixon, Segmentation and Customer Data Manager at TruEnergy.
Data segmentation is more important than ever because if you get it right your marketing spend is not wasted on talking to the wrong customers. Segmentation is dividing your customers into groups that are similar, specific and relevant to your marketing, such as age, gender, interests, spending and habits. It’s about starting with the data you have and understanding which data will be most effective to develop and target your marketing. “It is the first step in trying to understand your customers,” Dixon notes. In a perfect world, segmentation will give you an insight into how your customers think, how they do things and how they might respond to your marketing or your products.
Today Big Data has an estimated market value of $5 billion and is predicted to hit the $50 billion mark worldwide by 2017, according to open source analyst firm Wikibon. Their ground breaking report on the size of the big data market was released in early February 2012. Below is Wikibon’s five-year forecast for the Big Data market as a whole: Source: Wikibon 2012:
“Big Data is the new definitive source of competitive advantage across all industries. For those organisations that understand and embrace the new reality of Big Data, the possibilities for new innovation, improved agility, and increased profitability are nearly endless,” writes Jeff Kelly Wikibon’s Big Data analyst in the report.
Interview with Dagmar Chlosta, VP Global Marketing, Adidas Group
One of my key interest has always been to create the unexpected, to challenge the status quo and to drive innovation into areas where it is least expected. In 2005, the Adidas Group was already a very successful corporation. We were leading in many areas but our value chain was still managed very traditionally. Together with a small group of experts, I wanted to challenge this set up and do something truly revolutionary – virtualise the value chain. If we could manage our product creation and sell in virtually instead of through physical products, the opportunities would be limitless. We could get closer to the consumer, save costs, become faster and be leaders in process as well as product innovation. The idea of virtualisation was born.
There’s a lot of talk around today’s fast moving market environment. What are the opportunities and challenges related to it and how is Adidas keeping up?