Innovative Brands Using Data-Driven Marketing - a #sxsw2016 session overview
Who’s on the panel: Ryan Brockingham: Theory | Jen Drexler: Now What | Gail Horwood: Johnson & Johnson |Lee Maicon: 360i
To make things simple and to the point, the responses to these questions are a compilation of the fine fellows above as well as my own opinions - cause I’m your host after all.
We’ve got big data, and we cannot lie… (it’s just fun to say)
How did we get here [big data]?
- We actually need to look at what we have as “small data” so that we can actually do something with it! We absolutely must simplify. All this data comes together in theory but not in practicality, and the smarter our users is the harder it is to market to them.
- The Jist: Please don’t try to solve for the data-universe. You can relax a little by knowing that there isn’t a single other company who has harnessed and made sense of it all either! Start small. Start with a hypothesis and test the hell out of it to prove it right or prove it wrong.
- More people asking questions! Take a step back to think about what value this data is going to solve, then go find the right data.
How do consumers think about all this data companies are collecting? [privacy]
- Millennials actually don’t necessarily see all of this data as ‘private’ as some other generations do. They generally have a lower threshold for value exchange and are ready to give up their information for experiences that make their lives easy, more convenient, or increase of the value of their current experiences.
Great examples of companies using data in marketing:
- Take5 - an great Video Ad on Twitter [watch here] about a “swag trade” at SXSW - trade in all of your unwanted swag for stuff you really care about - treats/deliciousness [aka Take5]. It was a seamless experience - from what was seen online to the actual “swag trade” booth.
- Gail made a reservation at a restaurant here in Austin and received a text 45 minutes before her reservation offering a discounted drink at the bar before her table was ready.
- The Jist: What’s really working today when it comes to data and marketing are the small and basic things - and they are actually quite satisfying. It doesn’t have to cost you $200k, and really it shouldn’t! Focus on what’s working and build from there - before you pull your hair out.