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Explore the impact of data on marketing strategy in the digital era, empowering individuals with personalized experiences, and leveraging social playgrounds for engagement. Learn the evolution of data consumption, distribution, and creation, and the shift in consumer trust towards peers and social data. Delve into the significance of social engagement marketing, sensor technology, and personalizing distribution channels for consumer attention. Discover the profound changes brought about by the data revolution and the potential it holds for reshaping marketing approaches.
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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
1970’s BuildingComputers
1980’s ConnectingComputers
1990’s ConnectingPages
2000’s ConnectingPeople
2010’s ConnectingSensors
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
Company Customers
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?