31 January, 2017
How 3 Businesses Use Big Data to Connect with Consumers
As a marketer, it pays to have access to consumer data. The more you know about your target audience, the more personalized your marketing efforts can be. While physical billboard ads are strategically designed and placed to reach a local audience, it’s more challenging to pinpoint where and when a digital audience will consume your brand’s ads.
The solution? Hyper localized digital marketing. Location-based data allows brands to create strong connections with individual consumers rather than blindly targeting large segments of the population. By analyzing extremely specific consumer insights, marketers can get a better feel for when members of their target audience are most likely to be receptive to ads — and what type of ads will appeal to them.
These three brands are making the most of personalized consumer data:
Companies like Spotify that specialize in streaming, on-the-go services offer a distinct advantage for marketers, because they can make an educated guess about consumers’ lifestyles based on their consumption preferences. By rolling out curated playlists from these consumer insights, Spotify has access to, and can sell, valuable data to marketers: such things as overarching listening patterns and suggestions about what people are doing while they listen. For example, a person who is listening to a workout playlist is likely at the gym or on a run — presenting the perfect opportunity to display ads for athletic gear or nutritional supplements.
In addition to selling this information to marketers looking to advertise on the Spotify app- and web-based platforms, Spotify also draws on these insights to craft its own, highly clever marketing campaigns. Unlike some brands, Spotify is transparent about their use of consumer insights, and even incorporated highly specific data sets into their latest campaign:
“There has been some debate about whether big data is muting creativity in marketing, but we have turned that on its head,” said Spotify CMO Seth Farbman. “For us, data inspires and gives an insight into the emotion that people are expressing.”