Andreas Weigend @aweigend www.weigend.com The New Data Revolution:Impact on Marketing Strategy HSM Lisbon, 18 November 2010
Maxims for Marketing Strategy • Help Customers make BETTER DECISIONS • Empower Customers to be INDIVIDUALS • Create Social PLAYGROUNDS • Use the MOBILE as a TWO-WAY Device • ConteXtis King What is above all of this?
A. Production: Everybody creates data. B. Distribution: Everybody shares data. C. Consumption: Everybody uses data. • The study of the consumer has changed • The consumer has changed
Who Do Consumers Trust? • Experts • Reputation based on traditional institutions? • Past actions? Need for persistent identity • Peers: People like you • Similar background and situation • Friends: People who like you • Real life • Online
Social Data Revolution Howthe Changes (Almost) Everything
Smartphones • Capture context and situation • - Ambient sound, light • - Geo-location (place, movement) • Allow for lightweight interactions • - Micro-tasks (annotating) • Attached to a person
Time Scales Data, Technology: ~1year Biology: ~100k yrs Social Norms: ~10 years
A. Creation / Production • The amount of data a person creates • doubles every 1.5 … 2 years • after five years x 10 • after ten years x 100 • after twenty years x 10000
Consumers- Engage- Share- Connect3 times per week SEM: “Social Engagement Marketing”
18 Nov 2010 San FranciscoMayor’s Office Signing Ceremony for Open Data Legislation
B. Distribution • Distribution is now distributed
Commenting Distribution Attention
C. Consumption • Attention • Belonging • Conversation
Identity? private public
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?
How do you know peoples’ secret desires?
Audience • B2B: Boring to Boring Lindstrom 2010
Goal: Help customers make decisions… …based on reviews
Goal: Help customers make decisions… … based on clicks and purchases
Sources of Data • Attention • Clicks, Transactions • Situation • Geo-location • Device • Intention • Search • Connection • Social graph • User generated • Reviews
Case study: What data fortargeting of a new phone product? • Traditional segmentation • Demographics • Loyalty • Connection data • Who called who?
1.35% Adoptionrate 4.8x 0.28% • Traditionalsegmentation • Connection data
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)
Purpose of communication:to transmit information? Or is information justan excuse for communication?