Your big data audience insight
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This document summarizes a presentation about using big data and audience insights to build customer relationships and competitive advantage. It discusses how the digital world generates large amounts of diverse data sources, and how analyzing this data can provide insights into customers' behaviors and needs across their journey. Integrating multiple data sources through a data management platform allows targeting personalized content and ads to improve customer loyalty, retention, and acquisition.
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Your big data audience insight
- 1. YOUR BIG DATA AUDIENCE INSIGHT Sam Zindel _ DATA MODELLING ANALYST WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 2. TODAY’S AGENDA BIG DATA IN THE DIGITAL WORLD BUILDING THE BRAND/CUSTOMER RELATIONSHIP SIGN-POSTING THE CUSTOMER JOURNEY AUDIENCE INSIGHT = COMPETITIVE ADVANTAGE THE VALUE OF 1st, 2nd & 3rd PARTY DATA DATA MANAGEMENT PLATFORMS Q&A #bigdataforum WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 3. THE DIGITAL WORLD IS: Volume Data-rich Velocity Variety Viewed in real-time Multiple sources & complex WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 4. WHAT IS BIG DATA? Structured data Unstructured data Relational databases Relational databases Weblogs and Metadata Social media & user generated content WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 5. WHAT IS BIG DATA? Source: Big Data Insight Group – Industry Trends Report March 2012 State of Play WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 7. How people feel about your brand is driven by their level of trust and their experience Brand experience Perception Level of trust WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 8. Relationship pyramid Partner Trusted Liked Supplier WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 9. Putting customers at the heart of it creates a virtuous circle Brand derives maximum Customer derives value from customer maximum value from brand Rich Data gives us better customer intelligence to direct activity WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 10. The potential rewards for companies are huge Brand Customer Loyalty Retention Advocacy Acquisition Awareness Upselling WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 11. High level customer journey and key digital channels Purchase Moment Loyalty Cross-sell Awareness Consideration In Life Advocacy AFFs PPC SEO Display Display Social Website Mobile Email Secure Website WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 12. Focus on conversion Purchase Moment Loyalty Cross-sell Awareness Consideration In Life Advocacy AFFs PPC SEO Display Display Social Website Mobile Email Secure Website WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 13. Putting customers at the heart of it requires a broader digital approach built on customer need Purchase Moment Loyalty Cross-sell Awareness Consideration In Life Advocacy AFFs PPC SEO Display Display Social Website Mobile Email Secure Website WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 14. AUDIENCE INSIGHT IS KING Some great, simple ideas… WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 15. s tar ian ege n to v how rs s of f e m eat No WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 16. Relevant offers to child developmental stage Informative content/regular emails Photo management and seasonal discounts WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 17. BIG DATA TECHNOLOGY WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 18. Before we get ahead of ourselves… There are 3 things to check we are on top of WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 19. SINGLE CUSTOMER VIEW Structured data Relational databases WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 20. AUDIT AND MANAGE YOUR WEB ANALYTICS PLATFORM WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 21. WHAT BUSINESS QUESTIONS ARE YOU TRYING TO ANSWER? • How can I improve customer satisfaction levels? • How can I grow my business by 10% in the next 2 years? • Who are my highest value customers and where can I find more people like them? But understand that Big Data should provide a framework for tomorrow’s questions WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 22. How else do you gain insight into your audience? • Collect more data • Conduct research • Test and learn • Further analysis of existing data • Buy 3rd party data WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 23. Data currency Trade between web users’ data and website content/service Google “surveywall” Designed to replace publisher paywalls A quick market research question in exchange for content WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 24. THE VALUE PROPOSITION What is your company’s data actually worth? 1st Party data is great, as long as you are making best use of it Has anyone ever heard of 3rd party data used to scale audience is fine but 2nd party there are issues: •Lack of industry standards data?? •Insight sits with the provider •It is available to everyone WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 25. THE VALUE PROPOSITION 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 WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 26. Why does nobody ever talk about 2nd party data?? Closed Loop Brand Data Exchange Publisher WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 27. DMP IS THE EMERGING HUB FOR DIGITAL MARKETING WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 28. Data Management Platform Make your audience insights actionable Audience Management TF ORMS LA IDE P Inter AD SERVERS S est DEMAND Dem Life- o style Pur- Life- DEMAND SIDE PLATFORMS chas stag e e Firm In- o- Mark grap Beh et hic a- vior CREATIVE OPTIMIZATION CONTENT PERSONALIZATION SSP/EXCHANGES All this….and own your audience data and insight WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 29. 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
- 30. 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
- 31. WHAT DOES YOUR BIG DATA OPPORTUNITY LOOK LIKE? WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
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- 34. JOIN US AT OUR 1st MEETUP! Brighton Digital Festival Thurs 27th Sept, 5pm Follow @bigdatabrighton Me @samzZin WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
- 35. Thanks for listening! Q&A Sam Zindel _ DATA MODELLING ANALYST sam.zindel@icrossing.co.uk WWW.ICROSSING.CO.UK / CONNECT.ICROSSING.CO.UK / +44 (0)1273 827 700
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?
- 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