Data makes the world go round!
Well he did for me and other Star Trek fans!
We know one of the biggest challenges we face in marketing is proving a return on investment but we think things are going to get a lot easier!
With the advancements in technology, applications and tracking now providing more data on demographics and individual customers than ever before and with everything becoming ‘smart’ (smart TVs, smart watches, smart homes) there is a rapid increase in the wealth of data we have on behaviour, trends, and interests.
Wearable technology especially lends itself to the expansion in big data with location information being one of the biggest benefits for marketers as with more location information, we can target audiences better and more accurately based on where customers live, work, and play.
Using data to develop marketing strategy and create more personalised experiences for audiences will become the status quo. In this scenario, both businesses and customers benefit. For businesses, more data to mine means we can improve our targets for marketing, as well as more consistently keep track of results which in turn, improves the overall experience for our current customers.
This past year saw a few big turning points in the world of mobile as Google’s algorithm now penalises websites that are not optimised for mobile devices and the amount of mobile searches surpassed those from desktops and tablets.
What we’re going to see soon is a much greater effort in marketing towards drawing in the mobile masses as we are optimising for consumers and their smartphones and so there will be more apps, mobile ad spend will increase, mobile loyalty programs will become more popular and payments via mobile phones will continue to steadily rise.
2015 saw the introduction of Meerkat and Periscope and these were considered as a great way to facilitate relationships with audiences and while most businesses are still trying to figure out how these new apps and video streaming in general and how they may fit into overall marketing strategies it’s exciting to see more small businesses giving it a try.
Another trend will see further integration between all the actions users typically take online as purchases will be made through social media with greater automatic payment options, and transactions will be shareable on profiles in real-time. This ensure one-stop shopping and perpetuates the concept of building relationships with consumers by offering actual services through social media platforms.
Good news for us as a business in that we will be able to use this data to create a more direct path to purchase for social media audiences and help measure social media returns directly through revenue.
Data does make the world go round! Live long and prosper!