Ma smarter data if big data is so awesome why do we keep making such dumb mistakes in online marketing 3
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Why online marketing is broken and how we need to change the model, and understand the human condition, to leverage the opportunity around Big Data
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Ma smarter data if big data is so awesome why do we keep making such dumb mistakes in online marketing 3
- 1. If Big Data is so awesome why do we keep making dumb mistakes in online marketing? MA Smarter Data conference
- 2. Data
- 3. Smarter Data
- 4. Big Data
- 5. Can you trust your eyes?
- 6. Can you trust your eyes?
- 7. Can you trust your eyes?
- 8. Can you trust your eyes? • Body copy here
- 9. Smart pattern – in a painful way • Body copy here
- 10. Minding the data gap • Body copy here
- 11. Erika Hall “Just because we are seeing patterns, doesn’t mean they are there.”
- 13. McKinsey on Big Data “The biggest game-changing opportunity for marketing and sales since the Internet went mainstream 20 years ago."
- 14. Tweets predict stock market Study of 9.8m tweets from 2.7m tweeters predicted with 87% accuracy Dow Jones changes three days later
- 15. Tweets predict box-office takings • HP studied 3m tweets about 25 movies • Rate at which messages were sent before the film opened aligned with later box office takings
- 18. Future http://www.accenture.com/microsites/it-technology-trends-2014/Pages/tech-vision-report.aspx Global IP traffic expected to nearly double between 2013 and 2016, and broadband is expected to speed up more than twofold.
- 19. Future http://www.accenture.com/microsites/it-technology-trends-2014/Pages/tech-vision-report.aspx The installed base of the Internet of Things is estimated to reach approximately 212bn in 2020
- 20. Future http://www.accenture.com/microsites/it-technology-trends-2014/Pages/tech-vision-report.aspx By 2017, more than 50% of analytics implementations will make use of event data streams generated from instrumented machines, applications, and/or individuals.
- 21. The issue: “Everyone agrees that advertising on the Internet is broken.” Till Faida, CEO Adblock Plus
- 22. The issue • “You’re more likely to survive a plane crash than click a banner ad • 60% of consumers do not remember the last display ad they saw • 50% of clicks on mobile ads are accidental https://econsultancy.com/blog/64082-native-advertising-12-fascinating-examples-of-good-and-bad-practice
- 23. Why have we made it so bad?
- 24. Why 1 “We are lazy, forgetful creatures of habit.” Erika Hall, Co-Founder Mule Design http://muledesign.com/about/erika-hall/
- 25. Why 2 We abstract our humanity from the analytical process
- 26. Scary stock market graph
- 27. Yikes! • Body copy here
- 28. Doh! Who changed the scale?
- 30. Science: it’s a girl thing EU wants to attract more young women to research careers
- 31. Science: it’s a girl thing EU Directorate General for Research & Innovation spent 102,000 and used: • Comms and gender experts • Global market research team • Three agencies • Comprehensive qualitative study of 12-18 year old females across 6 countries
- 33. Evidence: Making stuff fit the facts
- 35. Why 2 We abstract our humanity from the analytical process
- 37. Fact: Tomato is a fruit
- 38. Evidence - 3DTV • Body copy here
- 39. Evidence - Video calling
- 40. Standard layout page • Body copy here
- 42. Kiwibank predictive data trial Identify customers currently active, or soon to be active, in the home loan space. Data-driven engagement results in 60% positive response - compared to 10%
- 44. Reinventing home buying • Prof Dominque Hanssens
- 45. Reinventing home buying • Focus on core customer needs • Reinvent through digitisation • Use data to create rich insight for customer • Use customer insight to drive data-driven sales • Connect through social media
- 46. Dumb data
- 47. Rediscover humanity “People want to be treated with respect, care, dignity and concern. That’s what they want from brands.” Jim Stengel, former GMO P&G
- 48. Obey analytical rules – don’t be lazy
- 49. The Naked Brand Don’t interrupt people with ads and spam. Use digital marketing to create a gateway to an immersive platform. Jeff Rosenblum, Co-founder Questus
Editor's Notes
- “Intelligence is figuring out if you could do it, Wisdom is figuring out if you should do it.”
- Kiwibank using predictive analytics to identify customers currently active, or soon to be active, in the home loan space.Started with over 100 sets of data points to try and figure what was important. Reduced to 7 or 8 crucial factors.Through analtyics and ability to target the right customers at the right time Kiwibank able to reach out to customers about their home loans.60% resulted in positive outcome for the bank, compared to typical positive response rate of 10%.Customers appreciated the call and that was all down to having excellent insight into what customers wanted to achieve and having analytics to support that.
- We can learn about people as we can customise an experience on on one. And that’s at the end of the day what people want – they want to be treated as a human being. They want to be treated with respect, care, dignity and concern. That’s what they want from brands and big data analytics opens up that capability in ways we never ever could’ve done before.” Jim Stengel , former Global Marketing Officer P&G
- Think about music. People think about music as being creative and think about composers as being creative people. And of course that’s correct. But music has incredibly tight analytical rules. If you play one note wrong it sounds awful. So to say that these creative musicians don’t have any analytics is completely false. It is a precisely because there are tight rules of behaviour that frees up the creative mind to stay within the rules and explore creativity within the rules.
- t’s just that the advertising revolution is in its infancy. Advertising has a role in the revolution but people don’t understand what that role is. Advertising should no longer be a vehicle for telling the entire brand story. Advertising should be a gateway to an immersive platform. Brands should focus first on their behavior and then brand evangelists will provide unprecedented levels of engagement with the brand and also carry the message forward much better than advertising ever could by itself. So, brands shouldn't try to tell the whole story via an ad. They should take some of their money away from paid media to create immersive, socially-connected platforms. Then, use paid adverting to build awareness about the platforms.