Marketing is a lot like throwing darts. Instead of a board, marketers shoot messages at a targeted audience. Today, marketers have “big data” to unpeel layers about a clearly defined audience.
Marketing is a lot like throwing darts.
Instead of a board, marketers shoot messages at a targeted audience.
Yesteryear’s marketing often resembled pitching campaigns on a covered board. Today, marketers have “big data” to unpeel layers about a clearly defined audience.
“Bolstered by always-on connectivity, hyper-targeting, images, and personalization, internet-enable retailers/products/brands are on the rise.” – Mary Meeker
The internet led to an evolution in the way data is collected. CRMs, SaaS, and other management systems gave companies a picture of behavior. Data has now morphed into a robust tool that can help outline a set of behaviors that is very similar to watching a GIF picture in motion.
There is a subtle trend happening. In her 2016 Internet Trends Report, Mary Meeker notes how companies shift their focus from between a retailer, brand, and/or product. For example, Amazon was once known primarily as a retail distributor. Over the years, Amazon services expanded to include everything from a low-cost focused Amazon Prime series to the newly launched and groundbreaking Amazon Echo.
The power of the internet enables companies to disrupt itself and continuously push the barriers of innovation. These retailers, brands, and products use a gamut of information from varying data collection points – ranging from personalizing messages, curating information, and/or generating a feedback loop.
The rise of mobile has created a new set of touchpoints. “Bolstered by always-on connectivity, hyper-targeting, images, and personalization, internet-enabled retailers/products/brands are on the rise,” states Mary Meeker. As consumers spend approximately 25% of their time on a smartphone, there is ample opportunity for a company to communicate with their users.
Google recently outlined 4 “game-changing” moments:
- I want to know moments – searching for things within a specific moment,
- I want to go moments – searching for a product or retailer because they are considering to buy something,
- I want to do moments – searching for help or looking to try something new,
- I want to buy moments – searching because they are ready to make a purchase.
Mobile continues to give access to a new world of data. Meeker further points out that advertisers are “over-indexed in legacy spend” with mobile ads accounting for only 12% of advertising budgets. Moving forward, micro data allows companies to re-define relationships and build systems that further creates value.
The internet is still relatively young – just a little over 20 years old. It has disrupted our everyday lives and ultimately how business is completed. Therefore, making decisions without looking at data could yield catastrophic results. Data is no longer a tool – it’s a team member. Data is a rational company employee that helps to build mutually long-lasting relationships with customers. When data has a voice in decisions, it helps today’s businesses to grow with the needs and wants of the marketplace.
Rob Black, Jr. is a marketer with over 15 years experience within property management. He currently operates a creative blog site (www.comizzzle.com) targeting millennials. Connect with him on LinkedIn here.
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