Your big data audience insight big data show 24 apr 2013
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Presentation from the Big Data Show 2013 by iCrossing’s Data Strategist, Sam Zindel, on how Big Data can be used to provide consumer insight and brand loyalty.
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Your big data audience insight big data show 24 apr 2013
- 1. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Sam Zindel _ DATA STRATEGIST sam.zindel@icrossing.co.uk YOUR BIG DATA AUDIENCE INSIGHT
- 2. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Big Data in the Digital World Building the Brand/Customer Relationship Sign-posting the Customer Journey Audience Insight = Competitive Advantage Before BIGDATA The Value of 1st , 2nd & 3rd Party Data Data Management Platform Q&A TODAY’S AGENDA #bigdataforum
- 3. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 THE DIGITAL WORLD IS: Data-rich Viewed in real-time Multiple sources & complex Volume Velocity Variety
- 4. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 WHAT IS BIG DATA? Structured data Relational databases Unstructured data Relational databases Weblogs and Metadata Social media & user generated content
- 5. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 WHAT IS BIG DATA? State of Play Source: Big Data Insight Group – Industry Trends Report March 2012
- 7. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Brand experience Perception Level of trust HOW PEOPLE FEEL ABOUT YOUR BRAND IS DRIVEN BY THEIR LEVEL OF TRUST AND THEIR EXPERIENCE
- 8. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Partner Trusted Liked Supplier RELATIONSHIP PYRAMID
- 9. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Brand derives maximum value from customer Customer derives maximum value from brand PUTTING CUSTOMERS AT THE HEART OF IT CREATES A VIRTUOUS CIRCLE Rich Data gives us better customer intelligence to direct activity
- 10. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 AUDIENCE INSIGHT IS KING Some great, simple ideas…
- 11. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 No meat offers shown to vegetarians
- 12. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Relevant offers to child developmental stage Informative content/regular emails Photo management and seasonal discounts
- 13. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 14. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Before we get ahead of ourselves… There are a couple of things to check we are on top of
- 15. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 SINGLE CUSTOMER VIEW Structured data Relational databases
- 16. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 AUDIT AND MANAGE YOUR WEB ANALYTICS PLATFORM
- 17. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 HOW CAN YOU GAIN NEW INSIGHTS INTO YOUR AUDIENCE? • Collect more data • Conduct research • Test and learn • Further analysis of existing data • Buy 3rd party data
- 18. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 THE VALUE PROPOSITION What is your company’s data actually worth? 3rd party data used to scale audience is fine but there are issues: Lack of industry standards •Insight sits with the provider •It is available to everyone Has anyone ever heard of 2nd party data?? 1st Party data is great, as long as you are making best use of it
- 19. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Exclusivity of data is key Why should all of your insight go towards improving a data provider’s product? It is your audience, and you should retain the insight THE VALUE PROPOSITION
- 20. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Why does nobody ever talk about 2nd party data?? Closed Loop Data Exchange PublisherBrand
- 21. OLD WORLD > Customer averages in silos > Conversion-based decisions > Channel optimisation > Last click attribution > Content designed for the majority > Ads targeted to 3rd party segments > Audience data owned by 3rd parties > Historic reporting > Disparate data and web analytics > Reactive, reflective, ineffective
- 22. NEW WORLD > Individual customer journeys over tim > Value-based decisions > Customer-centric > Audience specific attribution > Customised content for individuals > Ads targeted to your audience > Own and control your own audience data > Real-time reports > DMPs and predictive analytics > Proactive, predictive, effective
- 23. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 WHAT DOES YOUR BIG DATA OPPORTUNITY LOOK LIKE?
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- 26. WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700 Sam Zindel _ DATA STRATEGIST sam.zindel@icrossing.co.uk THANKS FOR LISTENING! Q&A
Editor's Notes
- Unstructured data is complex and hard to analyse which requires a new way of thinking
- Second slide – what are the main reasons people are looking at Big Data Retail – customer insight and better targeted marketing campaigns Finance – get more value out of old data and achieve competitive advantage
- Unstructured data is complex and hard to analyse which requires a new way of thinking
- So as the industry uses 3 rd party data to scale audience, it is important to understand the implications of this, and how the process could be improved. Firstly there is lack of both transparency and common standards between providers. Data is typically bought in “user segments” rather than people. However how these segments are arrived at is unclear and not standardized across providers. An advertiser buying a user segment who is in-market for a Rolls Royce may not be getting the same segment from each provider. For example a segment could be based on users searching for Rolls Royce related kws. Another provider may chose to use data gained from the Financial times combined with Rolls Royce content viewed. They are clearly very different segments but could be sold as the same. Removing the noise is difficult – what types of data truly drive performance. Understanding what data types demonstrate causation rather than correlate with a behavior is difficult. And actually data can be very expensive and is available to all on the open market. This means that in many cases the insights gained, especially around prospecting, are rarely exclusive and used by many advertisers. This can push up CPMs in the auction which can hinder ROI – especially when the cost of data is factored in. Finally, the insight sits with the media buyers. But that insight could be more valuable. It could have an impact beyond your media buying and into your whole marketing efforts. So it raises a question? How good is 3 rd party data?
- Exclusivity of data is key. Exclusivity delivers a unique value proposition. 1 st party data is the most relevant to your audience. It is something your competitors do not have. However, it needs to scale. The more first party data that can be combined with 3 rd party data to achieve scale the better. The future has to be about people rather than cookies. Only then are advertisers able to truly understand their audience. And finally, brands own their audience not media buyers. But when data plugs directly into the buying technology, the insights can stay there and not ripple throughout the business. This is where the move from data led Demand Side Platforms to brand managed Data Management Platforms leading Demand Side Platform execution becomes really exciting…
- So as the industry uses 3 rd party data to scale audience, it is important to understand the implications of this, and how the process could be improved. Firstly there is lack of both transparency and common standards between providers. Data is typically bought in “user segments” rather than people. However how these segments are arrived at is unclear and not standardized across providers. An advertiser buying a user segment who is in-market for a Rolls Royce may not be getting the same segment from each provider. For example a segment could be based on users searching for Rolls Royce related kws. Another provider may chose to use data gained from the Financial times combined with Rolls Royce content viewed. They are clearly very different segments but could be sold as the same. Removing the noise is difficult – what types of data truly drive performance. Understanding what data types demonstrate causation rather than correlate with a behavior is difficult. And actually data can be very expensive and is available to all on the open market. This means that in many cases the insights gained, especially around prospecting, are rarely exclusive and used by many advertisers. This can push up CPMs in the auction which can hinder ROI – especially when the cost of data is factored in. Finally, the insight sits with the media buyers. But that insight could be more valuable. It could have an impact beyond your media buying and into your whole marketing efforts. So it raises a question? How good is 3 rd party data?
- Hype cycle – this is not what Big Data looks like
- This what Big Data looks like