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How to Enable Personalized Marketing Even Before 'Big Data'


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How to Enable Personalized Marketing Even Before 'Big Data'

  1. 1. How to Enable Personalized Marketing Even Before “Big Data”
  2. 2. Agenda• “Big Data” Defined• “Big Data” Challenges• The MarketHUB+ Solution 2
  3. 3. How Much Data is Out There Anyway? IDC has predicted that “in 2011, the amount of information created andreplicated will surpass 1.8 zettabytes.” OK. But what in the world is a zettabyte? One trillion gigabytes. WOW! 1,800,000,000,000,000,000,000*Source: IDC View, “Extracting Value fromChaos”, June, 2011 3
  4. 4. IDC’s Digital Shadow Concept“The information about you is much greater than the information you create yourself.” 4
  5. 5. What is “Big Data”? “Big Data” is a popular buzz word that is typicallycharacterized in terms of 3V’s:• Volume• Velocity• Variety 5
  6. 6. Big Data – The 3 V’s• Volume – Staggering amounts of information• Velocity – Data comes in rapidly and needs to be analyzed quickly to reap full value• Variety – Data sources are endless: social media, retail and financial transactions, communications systems, video, web searches, GPS systems, etc 6
  7. 7. Big Data Defined • IDC’s definition of Big Data technology: – Big data technologies describe a new generation of technologies and architectures, designed to economically extract value from very large volumes of a wide variety of data, by enabling high-velocity capture, discovery, and/or analysis.*Source: IDC View, “Extracting Value fromChaos”, June, 2011 7
  8. 8. Why are Companies Interested in Big Data?• Enables deep customer insights - a competitive advantage – What really influences purchase behavior? – How to market to individuals?• Enables new products – For example, Google, FaceB ook 8
  9. 9. What are the Marketing Needs Associated with Big Data? • Marketers want to better understand individual customers and develop highly targeted, highly personalized marketing communications. • Big Data promises to enable just that. However…. • 2011 IBM survey of more than 1700 CMO’s found that 71% felt underprepared to manage the data explosion they are facing.*Source: IBM Global CMO Study, “FromStretched to Strengthened”, 2011 9
  10. 10. Why is Big Data a Challenge for Marketing Departments? Expense Privacy & Security According to IBM’s CMO survey, the With Big Data comes big responsibility two biggest barriers for CMO’s – sensitive information needs to be adopting new technologies are cost managed appropriately. (72%) and lack of certainty about ROI (61%). Skill Set Cross- Functional Collaboration The ability to analyze and interpret vast amounts of data requires new Effective Big Data solutions require skills sets within Marketing. Marketing to collaborate across the organization with IT and Legal departments for example.*Source: IBM Global CMO Study, “FromStretched to Strengthened”, 2011 10
  11. 11. Why is Big Data a Challenge for Marketing Departments? Of course, addressing all of the Big Data challenges takes TIME... 11
  12. 12. MarketHUB+ Personalized Marketing Right Now• MarketHUB+ is a Marketing Resource Management Solution• Enables personalized marketing without the challenges associated with Big Data• An ideal solution as a company’s Big Data capabilities are under development 12
  13. 13. MarketHUB+ One-to-One Marketing Right Now• With MarketHUB+, Marketing efficiently leverages the knowledge of field sales personnel to adapt messaging for personalized communications• MarketHUB+ is a web- based application with short implementation times• Low up-front costs resulting in quick realization of ROI 13
  14. 14. Why DocuStar?• Quick Implementation• Requires minimal IT department effort• End-to-end marketing services: – Project management – Creative – Fulfillment• Consultative services• Workflow automation• Intuitive software• Ability to customize software
  15. 15. Benefits• Localized, personalized marketing• Maximize marketing and sales team efficiency• Reduced marketing costs• Increased speed-to-market of marketing initiatives• Focus more on strategy and less on execution• Brand consistency• Regulatory compliance 15
  16. 16. Next Steps• For more information about how MarketHUB+ can help you with personalized marketing, contact us at: – 800-426-7921 – 16
  17. 17. Thank You! 17