FIGARODIGITAL.CO.UK
MARTIN SMITH, HEAD OF MARKETING, NEOLANE UK
Marketers are beholden to
DUNCAN FISHER, OPERATIONS DIRECTOR, LATITUDE DIGITAL MARKETING
As a digital marketing agency,
data has always played a significant part in how we at Latitude analyse and optimise online campaigns. So what’s the difference with big data and what does it mean to the way we work? I’d say it’s recognition of not only the size of data, but also the ability to both query and use it for more targeted, personalised online ad campaigns. Whether using search or display ads, those that perform better are those most targeted to match the user’s intent.
The possibilities feel almost endless
now, in being able to reach a specific audience at the right time, in the right location on the right device. This is where the role of sizeable data sets is crucial, with good analytics and technology becoming an essential part of a digital marketer’s toolkit. I disagree with those who think big data is going to replace marketers. What it should be doing is changing the required skill sets of marketers, placing a greater emphasis on analysis and optimisation on a significantly growing pool of available data. Automation plays a key part in this process and in the way a marketer can implement tactics derived from the analysis of such data, with real time decisions based on audience behaviour.
making justifiable, measurable, data-driven decisions. Data forms the basis of improved creative, satisfied customers and measurable increases in marketing performance. Here are four high-level strategies for big data to consider. Collect meaningful customer data
from a variety of sources. Even if big data analysis isn’t readily available in your organisation, this will likely change. Decide what data to store. It will form the basis for future analysis. Link data to metrics developed for measuring marketing return on investment. Your organisation likely measures marketing performance around customer acquisition, increased revenue per customer, satisfaction, brand presence, market share, positioning and others. Share data across the organisation, linking data sets together. Marketers should be looking for new ways to link purchase histories, the supply chain, finance, sales and customer service data sets for a more comprehensive view of customer behaviour. Utilise shared data to more
effectively target and personalise customer marketing efforts. You’ll want to be able to maximise customer lifetime value, based on prior behaviour across marketing, sales and service. You’ll need to invest in technologies that use big data to drive one-to-one customer communications, like conversational marketing platforms.
MARK SYAL, HEAD OF MEDIA, EMEA, ESSENCE
Big data, until recently, was only
used by massive corporations, governments or scientific institutions because of the high cost of processing and storing of data. These days, dig data is more democratic because all of these barriers have been removed. Now even smaller brands can reap the benefits. Why is it so important? It is only with the analysis of big data that you can genuinely understand your audience. Big data means knowing your audience on a one–to-one level – who they are, where they live, what products they have bought from you in the past, which ads they have seen and which ads they did or did not react to. It enables you to find people who might be similar to existing customers, who might be more receptive to your messages. Fully exploiting big data means that
you can analyse this data and draw conclusions on the fly. It also means that advertising campaigns can be targeted using this data in real time. The results of the campaign, on an individual level, can also be analysed on the fly. You can carry out testing and accurately measure the results – for example, to see how different groups of people reacted to different messages. These results can be compared to a control group who didn’t see your ads to understand the true incremental uplift on sales or brand metrics. Put simply, big data puts you in control of your ad campaigns.
40 issue 17 may 2013
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