Edits: Activating data
08 Sep 2016|Added Value
No longer the preserve of classroom nerds, Data has become the hot ticket in marketing and innovation circles, and is emerging as one of the crucial strategic battlegrounds of the next decade… But the big promise of Big Data has been disappointing so far, and has challenged corporate expectations about what data as a whole can deliver. The most progressive businesses are thinking hard about how to create and effectively leverage a data ecosystem across the marketing and insight organizations. This month we highlight some of the interesting plays.
The Big Bang of Marketing
Some have said advertising is broken but Brian Kushnir, Managing Director Kantar Added Value Los Angeles, begs to differ. Whatever you want to say about the state of advertising today, brands don’t seem to be bothered. They are getting on with it and making the most of life in an always on marketing world. Marketing is always on today because people are always connected via mobile devices, to content, to each other, and to the ability to be immersed in brand experiences. We’ve called it the Big Bang of Marketing. Click here to read what Kantar Added Value has to say…
5 Must-Dos for Successful Brand Tracking
Businesses hold a vast amount of data. Used correctly, this data can help to uncover insights that will make your business more intelligent, more efficient and more in touch with cultural trends, which are constantly evolving. Click here to discover five things Kantar Added Value‘s experts advise you must do in order to successfully track your brand and utilize the data collected to uncover rich insights.
Uptick in brand managers’ confidence in Big Data
Three years ago, marketers embraced Big Data with high expectations – they would get to know consumers so intimately that marketing and innovation would be exponentially simplified. But data are not crystal balls: you need to add the ‘why’. That’s what brand managers came to realize, and their confidence in Big Data usage dropped from 39% in 2014 to 14% in 2015. Big data may not be the answer to all our questions, but it is still a great tool to be in the armory. Now that marketers’ expectations have been managed, confidence is back up to 41%. Click here to download the report produced by Kantar Millward Brown Digital on how to Get Digital Right.
Spotify rolls out programmatic audio advertising
By enabling brands to buy advertising space in real time via an auction-like system, programmatic advertising helps better target users, moments and messages. Spotify has now extended this technology to audio ads, and advertisers are able to use Spotify’s data mine. Knowing what kind of song a user is listening to can help figure out what they are doing – feeling blue, working out, or maybe partying…opening the doors to mood-oriented advertising. Click here to read more about the global roll out.
With MagicBand, Disney kills two birds with one stone
When booking a stay at Disney World Orlando, guests can customize a bracelet that will be mailed to them – the MagicBand. Loaded with RFID and radio technologies, it becomes the all-in-one magic key for everything during their stay: park entry, hotel room, payments, avoiding lines and more. Designed to resolve points of friction and improve guest experience, it also happens to allow Disney to collect and activate against a tremendous amount of data… Go behind the scenes and discover how the magic works by clicking here.
Vera Bradley’s data-driven pricing strategy
A good pricing strategy is not exclusively based on number crunching. Vera Bradley used to rely on a huge set of data that included competitive analysis and margin modelling, and they are now incorporating customer voices. The company presents items to customers via social media or emails, and asks what price they would be willing to pay – all this in a gamified setting. The medium-scale data gathered through such a survey led Vera Bradley to raise the original price of a baby dress by $1… which increased the product’s revenue by 6%. Read more about the pricing strategy here.
Netflix reconciles Big Data and creativity
One thing marketing professionals fear about (big) data: how a numbers-driven approach may not leave space for inspiration and creativity. Netflix believes the two can work together. Their decision to purchase the hit series House of Cards relied heavily on Big Data – they confirmed that users interested in David Fincher movies were also likely to watch movies starring Kevin Spacey. Analytics made Netflix confident that the series was a ‘guaranteed’ success, which allowed them to ultimately give more creative latitude to the producers.
Discover how Netflix brought Big Data and creativity together.
From vending to Third Space: Honest Café
Initially, Honest Café was positioned as a premium, healthier offer in the vending machines category. To try and figure out how to improve the customer experience to match their premium positioning, they analyzed all the data they were gathering every day via their machines. Looking at credit card transactions helped identify a significant amount of ‘social purchases’ – buying coffee for several people. This allowed them to rethink of themselves as more than a grab-and-go machine led Honest Café to a self-serve coffee shop. Click here to read about the success story.
Linking Big Data and Creative: Amanda Foundation
For its ‘Digital Pawprint’ campaign, the animal rescue organization’s promotional targeting leveraged a user segmentation based on browsing history. Drawing on programmatic technology, they presented users with a ‘pet match’ that would fit what their personalities and preferences seem to be – an energetic dog for a young user engaged in a lot of outdoor activities for instance. Putting data at the service of a great creative idea gave birth to a powerful marketing campaign. Read more about using Big Data for a good cause.
Big Data is not the answer to everything
Big Data promises to resolve the tensions between short-term marketing initiatives and longer-term brand-building. With data showing how short-term revenue can be driven by immediate sales-oriented actions, advocating for long-term investments can become more challenging. This HBR article shows that while Big Data can be effective in supporting both, focusing on short-term initiatives without a strategic planning overview is a recipe for disaster. Don’t let Big Data bury your brand by clicking here.
Get in touch if you’d like to hear how Kantar Added Value can help you think about activating data within your organization.
Written by Jonathan Hall, Global Chief Innovation Officer, Kantar Added Value
Follow Jonathan on Twitter@HallCJonathan