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Big Data – Marketing Challenge or Opportunity?

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Learn how to extract the best out of Big Data to drive engagement and conversion.

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Big Data – Marketing Challenge or Opportunity?

  1. 1. A Digital Solutions Firm delivering Marketing and Technology Solutions New York . Toronto . Phoenix . Los Angeles . London. Dubai . New Delhi Big Data – Challenge or Opportunity?
  2. 2. 11 Why we are here
  3. 3. 2 1. What is Big Data? 2. How does big data affect you? 3. The three key facets of Big data 4. How toget started 5. How tointerpret and use data effectively 6. How todrive authentic customer engagement Points covered in this webinar
  4. 4. 33 What is Big Data?
  5. 5. 4 Global Data Capacity Exceeds 295 Exabytes* Communications have increased by an average of 28 percent every year since 1986. 2002 • Digital Data exceeds Analog Data 2007 • 65 Exabytes of information shared • 94% of data stored digitally 2012 • 2.5 Exabytes of data created every day Source: Martin Hilbert, USC Annenberg School for Communication and Journalism. An Exabyte is 1 Billion Gigabytes
  6. 6. 5 There is a data explosion Source: WIPRO Infographic in Petabytes
  7. 7. 66 What’s driving Big Data?
  8. 8. 7 What’s driving Big Data? SO MO CLO+ +
  9. 9. 8 20%of FACEBOOK Users have purchased something because of ads or comments they saw there Social Ipsos North America Survey SO
  10. 10. 9 YouTube is the second largest internet search engine Social SO
  11. 11. 10 91%of today’s online adults use social media regularly Social SO Experian 2012 Digital Marketer Benchmarks and Trends report
  12. 12. 11 45%of US Businesses are conducting some form of Mobile Marketing with the most common tactics being: Mobile Sites (70%) Mobile Apps (55%) QR Codes (49%) Mobile MO StrongMail.com Mobile Survey www.strongmail.com/pdf/SM_MobileSurvey201
  13. 13. 12 80%is the increase of Email Opens on Mobile devices in the first 6 months of 2012 Mobile MO http://litmus.com/blog/email-client-market-share-stats- infographic-june-2012
  14. 14. 13 Mobile MO
  15. 15. 14 Mobile MO Pew Research Center
  16. 16. 15 Mobile MO
  17. 17. 16 50%of Global 1000 companies will have stored customer-sensitive data in the public cloud by 2016 Cloud Computing CLO - Globe and Mail – Cloud Atlas, Return on Business
  18. 18. 17 $241 BillionCloud computing to grow to over $240 billion by 2020 from $61 Billion in 2012 Cloud Computing CLO Forrester Research
  19. 19. 18 61% of corporate computing is happening in the cloud Cloud Computing CLO Citrix Cloud Computing Survey
  20. 20. 19 Google’s Datacenters 2,259,998,000 Kilowatt-hours used by Google in 2010 20 Petabytes processed everyday
  21. 21. 20 Volume Velocity Variety 3 V’s of Big Data
  22. 22. 21 Volume Amplifies and creates reach
  23. 23. 22 Velocity Rapid insights provide competitive advantage
  24. 24. 23 Variety Everyone’s an advertiser, broadcaster and data generator People with people People with Machines Machines with Machines
  25. 25. 24 Ordinary Data Big Data Static Dynamic Structured Structured and Unstructured Collected and stored It’s everywhere Complex Simpler but lots of it Manual Batch Processed Automated Real-time Processing Rear-view Reporting Predicts the future Ordinary Data vs Big Data
  26. 26. 2525 Why does this matter to you?
  27. 27. 2626 It’s not about data!
  28. 28. 27 Big Data is about insight
  29. 29. 28 Understand where your customers are
  30. 30. 29 Understand who your best customers are
  31. 31. 30 1. Customer Service  Askforcustomertestimonials  Respondtocustomerquestions  Respondtocustomercomplaints  SharelinkstoFAQs  Respondtocustomercompliments  Respondtocustomerfeedback  Crowdsourcecontentfromcustomers Applications for Marketing
  32. 32. 31 2. Lead Generation  Linkbacktoyourweb/landing pageforconversion  Blogabouthelpfulinformation  Promoteastrongcalltoaction  CreateaCommunity  Sharepeerreferrals  Promoteoffers  Optimizesiteandblogformobileviewers  StartaLinkedIngroup Applications for Marketing
  33. 33. 32 5. SEO and OnlineVisibility  IncludekeyphrasesinyourTweets  LinktoyourblogfromFacebook  Askfollowerstolinktoyourwebsite  UsekeywordsonyourLinkedIncompanypage  Includekeywordsinyourblogpostheadlinesandbody  Tagandnameyourimages  Categorizeandtagyourblogwithkeyphrases  Shareebooksusingkeyphrases  UploadvideostoYouTube(2ndlargestsearchengine)  EncouragesharingwiththeG+buttononyourwebpages Applications for Marketing
  34. 34. 33 3. Product Development  Joinanexistingforum  Haveinfluencerstestyourproduct  Surveycustomers  Sharealimitedtimeoffer  Announceproductsonyourblog  CreateaFacebookpoll  CreateacompellingFacebookapp  Blogaboutproductupdates  Crowdsourceideas  Createaforum Applications for Marketing
  35. 35. 34 4. Influencer Outreach  IntroduceyourselftoinfluencersonTwitter  PlanTweetupsatconferences  Interviewthemonyourblog  Askthemforaguestblogpost  Planawebinararoundthem  PosttheirpresentationstoSlideshare  Createavideointerview  Createapodcastinterview  Createabadgeforthem  Linktotheircontent Applications for Marketing
  36. 36. 3535 Get Strategic about Big Data
  37. 37. 36 1. Engage with customers wherever they are 2. Make customer intelligence strategic 3. Focus on goals and filter out noise 4. Create usable and actionable views or data clusters 5. Act on the insights from data, not on intuition or experience Key Principles
  38. 38. 37 Technology is making it easier
  39. 39. 3838 Contextual Engagement in B2B
  40. 40. 39 1. Employ a closed-loop engagement cycle  Build the profile, analyze the profile and respond to the prospect 2. Characterize prospect  Properties include buying cycle state and segmentation parameters 3. Develop content to align with the prospect expectations  Content will speak directly to a prospect profile 4. Automate the closed-loop prospect engagement  Use web CMS and marketing automation platforms to automate the engagement cycle Steps to Context-driven Engagement Four steps to achieve multi-channel engagement that aligns with customer expectations and drives acquisition
  41. 41. 40 Understand your buying cycle  Understand your customer’s mindset through the buying cycle journey Segment your audience  Determine the target groups within your audience Map the messages  Understand and align the messages with the segment and their objections Implement the platforms  Implement the multi-channel platforms Using Buying Cycle to Define Engagement Use the buying cycle to understand how, when and with what to engage prospects at each step of buying process Understand your Buying Cycle Segment your audience Map the Messages Implement the Platforms
  42. 42. 41 It’s about the Customer’s Journey Evaluate PurchaseLearn JustifyInterest Active Search Begins Solutions Identified Solutions Evaluated Against Needs Validate Decision Made Actions Web Search Review or get admin to look at product on website and collateral. Ask Personal/Social Network. Compare against current and competitive products/services Peer/Association endorsements Buying Process Questions WIFM? Do I really this? Does it fit my business needs? Can this replace my current service? What is the cost (fees)? How much can I spend on this card? Who else like me is using this product? What type of benefits is he/she seeing? How long until I can get full use of this service? Motivation s Rewards, Promotion, Success, Make life easy Rewards, Business Savings, Security, Service (Added Value) Relevance of Perks, Rewards etc… Confirmation of Perks Risk-free Trial Pain Points No Time Current process is very manual I have to work weekends Data is not accurate Barriers Merchant Acceptance Tied to an existing card Migrating from Existing card Merchant Acceptance Migrating from Existing card, Linking Bank accounts T&Cs Personal Liability Credit History Supplier Coverage Is it worth switching cards? Amex approval Process
  43. 43. 42 1. Employ a closed-loop engagement cycle  Build the profile, analyze the profile and respond to the prospect 2. Characterize prospects with a profile  Properties include buying cycle state and segmentation parameters 3. Develop content to align with the profiles  Content will speak directly to a prospect profile 4. Automate the closed-loop prospect engagement  Use web CMS and marketing automation platforms to automate the engagement cycle Leveraging Digital Platforms Four steps to achieve multi-channel engagement that aligns with customer expectations and drives acquisition
  44. 44. 43 1. Content Management (CMS): Supports personalized interactions on the web site 2. Marketing Automation Platform (MAP): Supports personalized interactions via outbound digital channels 3. Customer Relationship Management (CRM): Supports personalized interactions involving members of the sales team 4. Integration and Mapping: Integrating the three systems to create centralized buyer profiles that could then be mapped to a defined buying process 5. Measurement and Reporting: Implementing the Reporting and Analytics tools necessary to support ongoing performance measurement and management Leveraging Digital Platforms CMS + MAP + CRM + Context = Increased acquisition. It takes both platforms and approach to drive improved acquisition
  45. 45. 44 The Trifecta for Richer Engagement This Unified Customer Engagement Platform delivers an experience based on a common customer context Web CMS Marketing Automation with Analytics CRM Common Customer Context
  46. 46. 45 Assemble and Automate Campaigns Welcome campaigns > Follow-up Campaigns > Sales Accelerator Campaigns > Objection Campaigns > Inactive re-engagement Campaigns
  47. 47. 46 Unified Engagement Platform Delivering context-driven, multi-channel experiences across the buying cycle requires a unified engagement platform
  48. 48. 47 Connect with us 1-877-339-6264 www.edynamic.net contact@edynamic.net twitter.com/edynamic youtube.com/1999dynamic facebook.com/edynamic.net

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