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Andreas Weigend @aweigend www.weigend.com. HSM World Marketing and Sales Forum The New Data Revolution: Impact on Marketing S trategy November 2010. In The Last Minute…. Who creates data? Production : Everybody. Data as digital air How will this data be shared?

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slide1

Andreas Weigend

@aweigend

www.weigend.com

HSM World Marketing and Sales Forum

The New Data Revolution:Impact on Marketing Strategy

November 2010

slide3

Who creates data?

Production: Everybody. Data as digital air

How will this data be shared?

Distribution: Everybody is a contributor

What will this data be used for?

Consumption: Help people make decisions

slide4

It’s about…

…bridgingthe physicaland the digital

slide5

Where Are Decisions Made?

  • Brick and mortar
  • Traditional media
  • Web
  • Mobile

Trust?

One-way push vstwo-way communication?

slide6

Who Helps With Decision Making?

  • Friends (people who like you)
    • Real life
    • Online
  • Peers (people like you)
  • Experts
    • Institution?
    • Past action?
    • Reputation/ brand as shortcut for attention
  • Ad hoc groups (e.g., for car purchase)
social data revolution

Social Data Revolution

Howthe

Changes (Almost) Everything

slide8

1970’s

BuildingComputers

slide9

1980’s

ConnectingComputers

slide10

1990’s

ConnectingPages

slide11

2000’s

ConnectingPeople

slide12

2010’s

ConnectingSensors

slide13

Mobile Phones

  • Capture context and situation
    • - Ambient sound, light
    • - Geo-location (place, movement)
  • Allow for lightweight interactions
    • - Micro-tasks (annotating)
  • Attached to a person
slide15

Time Scales

Biology: ~100k yrs

Social Norms: ~10 years

Data, Technology: ~1year

slide16

Creation / Production of Data

  • The amount of data each person creates
  • doubles every 1.5 … 2 years
    • after five years  x 10
    • after ten years  x 100
    • after twenty years  x 10000
slide21

Distribution

  • Distribution is now distributed
  • Distribution has become social
slide24

Consumption

  • Attention
  • Cognition
  • Behavior change
slide28

private

public

slide29

Web 0 Computers

Web 0 Computers

Web 1Pages

Web 2People

E-business

CONSUME

Me-biz

CREATE

We-biz

SHARE

slide30

Imagine...

  • You knew all the things people here have bought
  • You knew all of their friends
  • You knew their secret desires

... what would you do?

slide37

Goal: Help customers make decisions…

… based on clicks and purchases

slide39

Sources of Data

  • Attention
    • Clicks, Transactions
  • Situation
    • Geo-location
    • Device
  • Intention
    • Search
  • Connection
    • Social graph
  • User generated
    • Reviews
slide40

Case study: What data fortargeting of a new phone product?

  • Traditional segmentation
  • Demographics
  • Loyalty
  • Connection data
  • Who called who?
slide41

1.35%

Adoptionrate

4.8x

0.28%

  • Traditionalsegmentation
  • Connection data
slide42

Company

Customers

slide45

Result:Amazingconversion rates since customer chooses

Content (the item)

Context (she just bought that item)

Connection(she asked Amazon to email her friend)

Conversation(information as excuse for communication)

slide46

Purpose of communication:to transmit information?

Or is information justan excuse for communication?

social graph targeting
Social graph targeting

Provide list of prospects

fraud reduction
Fraud reduction

Social networkintelligence

Provide risk scores

slide55

is a Broadcast

not a Conversation

@ garyvee wine library
@garyveeWine Library
  • Direct mail campaign: $7,500 200 new customers
  • Billboard ad: $7,500300 new customers
  • Tweeter: free shipping1,800 new customers
slide57

aware

consider

buy

use

share

opinion

Marketer-generated

Consumer-generated

Megaphone

Funnel

slide58

Exercise: What data for your marketing?

Talk to your neighbor. Total time: 2 x 4 = 10 mins

slide60

Get Your Customers To Work For You!

  • Reduce barriers for contribution
  • Design incentives that work
slide61

Case Study: Best Buy

Where does product knowledge come from?

slide63

P-H-A-M-E

Problem

Hypothesis

Action

Metrics

Experiment

slide64

P-H-A-M-E

Problem

Hypothesis

Action

Metrics

Experiment

slide65

P-H-A-M-E

Problem

Hypothesis

Action

Metrics

Experiment

Action

slide66

P-H-A-M-E

Problem

Hypothesis

Action

Metrics

Experiment

slide67

P-H-A-M-E

Problem

Hypothesis

Action

Metrics

Experiment

slide71

Let Customers Solve Customers’ Problems

“Customer Service is the New Marketing”

slide74

200k accepted FB event invite

  • 400k viewed YouTube video
  • 379 blog posts tied back to it
  • Viral buzz:26% increase
slide77

Market to influential people…

… and then reach everyone else for free

slide78

Chain length

4

3

2

1

Real LifeFacebook

38%≥ 4 links86%≥ 4 links

slide79

Revenues

(US$ Millions)

slide82

Corner / Oversized Rooms:

Rooms Ending in:

04

Oversized, Corner Room, Quiet Room

24

Oversized, Corner Room with North Times Square Views (Higher Floors are Preferred

Rooms to Avoid:

Rooms Ending in:

01, 21

Possible Ice Machine / Elevator Noise

08, 17

Limited View Rooms

slide83

Travelers share their intentions

to highlight where you’ve been,

Click

to show where you’ve lived,

to share where you want to go.

Export your travel map to any Web page.

Including your Facebook and MySpace profiles and blogs

Edit your map once

to automatically update your exported maps everywhere

Sign in to export your map if you’re already a VirtualTourist member.

slide86

Customer

Product

Brand

from controlled production for the masses
From controlled production forthe masses…

… to uncontrolled production bythe masses

consumer expectations
Consumer Expectations
  • How have consumer expectations changed towards creating, sharing, accessing, and controlling data?
  • What benefits will customers expect in exchange to permitting your company to use their data?
  • Ultimately, how can you help people discover products and services, make better decisions, and subsequently participate in the value your customers create?
e me we business
E  Me  We-Business

Who talks to whom?

  • Consumers to consumers

Who trusts whom?

  • Shift from institutions to individuals

Who is in control?

  • From e-business (company focus, Web 1.0)
  • to me-business (customer focus , Web 2.0)
  • to we-business (community focus , Web 3.0)
monetization
Monetization

Who manages whom?

  • Move from CRM to CMR (Customer Managed Relationships)

Who pays whom?

  • Design incentives for participation and interaction
  • Charge as much as you can  Charge as little as you can?
      • Jeff Jarvis
  • Transaction economy  Relationship economy
      • ShoshanaZuboff
summary
Summary
  • Innovation

Internal  External

“Most smart people don’t work here.” Bill Joy

  • Data

Collect and analyze  Create and share

  • Experiments

Push and pray  Launch and learn

5 maxims
5 Maxims
  • Help Customers make BETTER DECISIONS
    • vs traditional push messaging
5 maxims1
5 Maxims
  • Help Customers make BETTER DECISIONS
  • Empower Customers to be INDIVIDUALS
    • vs. traditional segmentation
5 maxims2
5 Maxims
  • Help Customers make BETTER DECISIONS
  • Empower Customers to be INDIVIDUALS
  • Create Social PLAYGROUNDS
    • vs. corporate marketing messages
5 maxims3
5 Maxims
  • Help Customers make BETTER DECISIONS
  • Empower Customers to be INDIVIDUALS
  • Create Social PLAYGROUNDS
  • Use the MOBILE as a TWO-WAY Device
    • vs one-way push advertising
5 maxims4
5 Maxims
  • Help Customers make BETTER DECISIONS
  • Empower Customers to be INDIVIDUALS
  • Create Social PLAYGROUNDS
  • Use the MOBILE as a TWO-WAY Device
  • ConteXtis King
    • vs Content is King
5 maxims5
5 Maxims
  • Help Customers make BETTER DECISIONS
  • Empower Customers to be INDIVIDUALS
  • Create Social PLAYGROUNDS
  • Use the MOBILE as a TWO-WAY Device
  • ConteXtis King

Thank you!

thank you
Thank you!

@aweigend

Andreas Weigend | www.weigend.com

slide99

Andreas Weigend

@aweigend

www.weigend.com

Appendix

slide100

Simple Things to Do and Learn (1):

Use RedLaserto understand the power of bringing a vendor into consideration when user is shopping in a physical store

Use blippy.com: what is it? why do people do it? What do they get out of if?

Search box: Measure intention across channels, differences over time, in response to campaigns, difference between mobile and web

slide101

Simple Things to Do and Learn (2):

Facebook LIKE button: powerful reach into other sites, easy to integrate (Facebook connect). – we-business

Twitter: Engage with one person (see hass2009.wikispaces.com homework)

Search on Google for Brand: When did you last search for it? – this is what potential customers will see!

slide102

Simple Things to Do and Learn (3):

ReverseMentoring

Ideas generation, feedback AND engagement