A data scientist and a marketer walk into a bar. In the past, they may have only exchanged pleasantries. Today, the marketer buys the techie a drink and wants to talk serious shop.
The explosion of data and the advances in technology over the past few years have dramatically changed the way that brands and agencies interact with customers. We have entered what Forrester calls the “Age of the Customer”, where businesses will have to reinvent themselves in order to better serve powerful customers and influencers. Similarly, the capabilities for understanding and engaging with these customers has evolved. Using data to understand and engage influential customers–specifically, millennials–was an overarching theme at this year’s New York Advertising Week.
Big data was top of mind for thousands of marketers, advertisers and brands at the event. As technology advances and new spaces for interaction become more widely used, the advertising industry is forced to evolve. Over the course of the four-day conference, there were many lively discussions–on stage, in lounges and at happy hours across the city–centered around the question: “What do we do with this data?”
“Millennials can sniff out when it’s not authentic…it all has to stem from an authentic place.”
-Kristin Patrick, Global CMO, Pepsi
Third party data is becoming increasingly more important as marketers and strategists consider campaigns. 90% of the world’s data was created in the past two years, 80% of which is unstructured–tweets, posts, comments, etc. What’s more, millennials are three times more likely to research a product online before making a purchase. And they are conducting their research through social networks. Research shows 77% of millennial Facebook users, 66% of Twitter users and 63% of Pinterest users are multichannel shoppers who purchased a product after viewing it on their preferred social network. These days, a strategic focus on social media is imperative to positive campaigns and conversions.
“There is an implied intimacy of social platforms that didn’t exist five years ago.”
-Jennifer Kasper, GVP, Digital/New Media and Multicultural Marketing, Macy’s
Demands on brands have never been more stringent. A brand must be authentic, timely and operate across multiple channels and platforms, at unprecedented scale. Customers have the voice and the ability to share that gives the audience the ability to amplify their opinions about a brand, without any consequences, making the potential for damaging off-point messaging high. In order to be successful, it is essential that brands know the intricacies of their audiences.
The goal of the advertiser has evolved from persuasion to influence. At the crux of the paradigm shift are technologies that put automated market research and audience intelligence into the hands of the creatives. With their powers combined, data science techniques and creative methodologies empower creatives with off-the-wall ideas that can be proven effective.
“When you communicate in the right way, fans will not only buy your product, they will love your product.”
-Kathy O’Brien, Vice President of Marketing to Shoppers, Unilever
At People Pattern, we believe that the strategy has to start with custom audience segmentation, and the ability to activate those segments. Personal relationships with customers are possible with the right intelligence. Interested in learning how? Email us to set up a one-on-one with someone from our team, or request a trial of the platform below.
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