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Marketers 'see value in data'

BIG DATA TO REVOLUTIONISE MARKETING

Greg Taylor

September 17, 2013

Data quality

Marketers have revealed that data is going to fundamentally transform the way they work, according to research by the German market research institute GfK.

Commissioned by the Guardian, the study revealed that 86 per cent of marketers are of the opinion that big data specifically will revolutionise the "function of marketing", with 62 per cent stating that change has already occurred.

Brian Streich, marketing director at the online ticket site StubHub, is one individual who has embraced data, describing it as a "contract" with the customer.

The more data he gathers and the insight he derives on his audience, the better the experience customers will have. It is a win-win situation, so long as the information is relevant (to both the organisation and the target demographic).

"Engagement is something that we look at, an experience that makes them want to browse more, want to interact with us more," Mr Streich told the Guardian recently.

"The passion in sports and entertainment means it is critical to make correct use of the data. In the US, if you look at a Dodgers fan and then you give them a Giants email, you could lose them."

The challenge is to make sure everything that is done with reference to data is focused and appropriate to any given campaign or project.

If you consider transactional and behavioural data to be more than just an occasional endeavour and re-imagine it "as a critical asset" then, as a marketer, you will be capable of producing impressive results.

Therefore, there is always a need for marketers – and anyone involved in data management – to ensure that the information they have access to is accurate, that it is easy to locate and that it is of an appropriate quality.

Things to keep abreast of include mistakes that can arise in poor and incorrect manual data entry, databases that have been neglected and are therefore not reflective of the current climate and how effective customer relationship management systems currently are.ADNFCR-794-ID-801646581-ADNFCR

 

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