Our Blog

Marketing agency trends: a day in the life of Big Data [Video]

By Danielle Stagg on 20 September 2013

Marketing agency trends can be fickle and fleeting. But one that is still floating around (and not just in the cyberspace above us) is the notorious Big Data.

Yes that is right we are in the era of Big Data and marketing agencies are just warming up with their efforts to tap the marketing potential of this floating information source. Over 2.5 Exabytes of data are created everyday (1 billion GB to 1 Exabyte) and that number doubles every month. Most of this data is still drifting just out of marketing agencies’ reach, temping them with its juicy information, but quickly agencies are devising ways to reach new heights and tap the Big Data cloud.

As marketers learn more about Big Data new marketing agency trends are popping up with ways to utilise its potential. Over 90% of all data was created in the last two years, this offers brands an opportunity to grab their slice of the data pie and be one of the first to try new marketing approaches. Although over $500 billion is spent on Big Data marketing every year, 40% of that amount is wasted due to an inadequate use of Big Data.

So how should you use Big Data?

Marketing agency trends point to an integrated living experience where everything consumers do leads to another more informed advertising proposition. In this environment a simple activity such as placing your daily coffee order can help other brands to decide what time you will be the most susceptible to an additional promotion such as, what kind of products you might be interested in and the exact location to target you.

Many brands and businesses are already finding innovate uses for Big Data. Macy’s famously tap their Big Data mine to predict spending habits of their customers and please their investors.

But these trend leaders haven’t quite achieved the complete synergy that Big Data promises as the holy grail of marketing. Olgivy demonstrated a whole range of marketing agency trends for Big Data in their showreel of ‘A Day In The Life Of Big Data’:

Olgivy present an extreme and futuristic picture of life with Big Data but in many ways we are not far off from achieving this. Marketing agency trends for the source have lead to some concerned consumers voicing their objections on how it will impact on their daily lives.

Brands and businesses are quick to mine Big Data to beat their competitors and rake in as much revenue as possible from their customers. However the uses for Big Data don’t have to be invasive or promotional. In fact, many brands are not using Big Data to improve customer experience. One leader in this field is Amazon, despite their huge database and potential to utilise their data for promotions they have placed a large focus on their marketing efforts to improve customer experience as Fast Company describe in their blog post – How Companies Like Amazon Use Big Data To Make You Love Them:

“Last month, I talked to Amazon customer service about my malfunctioning Kindle, and it was great. Thirty seconds after putting in a service request on Amazon’s website, my phone rang, and the woman on the other end--let’s call her Barbara--greeted me by name and said, "I understand that you have a problem with your Kindle." We resolved my problem in under two minutes, we got to skip the part where I carefully spell out my last name and address, and she didn’t try to upsell me on anything. After nearly a decade of ordering stuff from Amazon, I never loved the company as much as I did at that moment.”

Customer service is an area where two popular marketing agency trends can join forces; Big Data and the evolution of brand to consumer relationships. A personalised consumer to brand experience can only come as the product of a well-informed interaction. Enter Big Data into the equation. With competition heating up amongst brands for loyal customers their focus is switching from acquisition to retention and a customer service informed by Big Data can provide this.

If you are looking for an agency to harness the power of Big Data for your company then get in contact with FindGood on @wefindgood or submit your brief now.

Submit Your Brief Now

Continue Reading

Big Data: On trend or old news?

By Danielle Stagg on 26 March 2013

Big Data Definition: The large amounts of structured and unstructured data that, in order to be fully and appropriately analysed, require machine-based systems and technologies.

Is it a leap forward helping the world to run smoothly on exabytes of unstructured, unprecedented levels of data? Or, asks Bill Portlock, Head of Marketing at Marketing Metrix, is Big Data a new buzz-word used by sales and marketing to frighten organisations into purchasing multimillion dollar IT platforms?

Big Data: history repeating itself?

History is certainly repeating itself. I’m old enough to remember the birth of CRM (customer relationship management) and how the industry was split between IT companies and their solve-it-all £multimillion databases, and the pointy heads claiming it was their domain. CRM turned out to be data driven marketing using IT as a tool, and eventually became the buzz-word of the '90s.

With this in mind, it’s vital that we monitor how the Big Data debate develops and monitor how it will impact on our industry.  But there are some cautionary steps that must be taken. Some companies are rushing to buy expensive machines to capture what is in many cases vast amounts of ephemeral data without giving thought to how it will be of value to them in the long run.  Others are burying their heads in the sand as they find Big Data to be too overwhelming and are still stuck with figuring out whether or not Social Media is worth it (it is!).

Big Data Analytics

One can throw  enormous volumes of data into a mega machine costing a fortune and it will come out with all sorts of interesting figures, but are these details useful or (more importantly) even usable? Is a machine really better at understanding how human data can be used?

The most effective way to approach Big Data is to combine the entirety of a company’s data collateral, and then decide where to look within the Social Media plane. The data is not thrown into some black box, but analysed by humans using IT tools and software.  It’s the creative interpretation of the data which will do most to drive the bottom line.

This is doable, scalable and most importantly actionable. But the most important question to ask an organisation, before embarking on any ‘Big Data’ project is what they want to get out of it! Essentially, despite the hype and fanatical strategies surrounding Big Data, it’s not difficult or confusing; it's just about asking the right questions.

What's your stance on the Big Data Debate? Were you sold the same story in the 90s? Let us know!
Continue Reading