Thursday, June 13, 2013
The Power of Social Vids
This AdWeek article is an important one. It discusses how YouTube is poised to overtake FB/Twitter as the most influential social network. More importantly though (IMO) is the idea that the best and most believable content is fan-generated. Read more: http://www.adweek.com/videowatch/fans-crush-brands-when-it-comes-youtube-150262
Tuesday, May 28, 2013
Big Data
While the concept of using data
to better market a product/service isn’t new, you may have noticed marketing
pubs are writing more about “Big Data.” (Both AdWeek and AdAge have/are dedicating
issues on the topic this year.) And many superstar e-brands (think Amazon and
Google) base their entire marketing and sales strategies around Big Data. If a
marketer’s challenge has always been “to figure out how to make the right offer
to the right consumer via the right touch point, at exactly the right point in
time,” then consider Big Data your golden ticket.
I’ve pulled together a few
‘case studies’…hopefully you find these examples as interesting as I did!
1.
A marketing executive
at Google noticed that the paid links that showed up in search results were a
different shade of blue on Google search than on Google’s e-mail software
Gmail. The marketing director decided to test which shade of blue would
maximize users’ click-through rate on the ads. His team tested 40 different
shades, covering the entire spectrum of blue, on 1% of Google’s web pages and
compared them to a control group. It found that users preferred a blue shade
that had less green and more purple in it. The change was made across the board and Google netted an
additional $200 million in revenues.
2.
Nike set up
NikeID.com, which lets customers design their own footwear, clothing, and
equipment. The concept lets Nike engage its customers directly and offer
personalized, and often higher-margin, products; revenue from NikeID surpassed
$120 million in 2011.Nike
now uses customer data to sift through the billions of possible permutations
and choices to analyze its customer base and provide the basis for its next
product designs.
3.
McDonald’s now tracks
customer interactions, in-store traffic, flow through its drive-through lanes,
and ordering patterns, using point-of-sale data, video, and sensors. Based on this data, researchers model
the impact of variations in menus, restaurant design, and training, among other
things, on productivity and sales.
4.
When a customer rang
the call center of a U.S. insurance company, the agent used to just see the
caller’s history (i.e. tenure as a customer, wait time, outstanding claims).
With big data, the company had developed a real-time sentiment analysis system
to assess the emotional state of the caller based on voice and inflection data.
The system then made recommendations for how to respond—for example, keeping to
the facts of the case or mellowing the tone—so the agent could manage the
conversation better. These insights were critical because part of the call
center was in the Philippines, where cultural differences made it difficult to
manage emotional conversations with American customers.The system helped improve customer
retention rates by 20 percent.
Steve Lohr of the NY Times
said: “What is Big Data? A meme and a marketing term, for sure, but also
shorthand for advancing trends in technology that open the door to a new
approach to understanding the world and making decisions.”
Tuesday, January 10, 2012
Thursday, November 10, 2011
Thursday, September 15, 2011
Friday, August 26, 2011
How Did Steve Jobs Learn to Innovate?
http://www.washingtonpost.com/blogs/innovations/post/steve-jobs-apple-pixar-and-inspiring-innovation-video/2011/08/25/gIQArkNwdJ_blog.html
Subscribe to:
Posts (Atom)