Target, like many companies, builds customer profiles over time based on Big Data. ![]() One example of a convergence between online and offline marketing is American discount retailer Target. In short, convergence turns traditional marketing into another set of data points to be collected. ![]() The medium doesn't matter so much so long as marketers can gather the necessary data to measure the effectiveness of the message. It just has to be reinterpreted for a Big Data world.īig Data is where the convergence happens between traditional and online marketing happens. Completely dumping traditional marketing collateral would be a radical change. The old techniques of print, television, and radio haven't stopped working entirely just because we're buried in our smartphones all day. ![]() Traditional Marketing and Big Dataĭoes this mean traditional marketing is dead! Not by a long shot. And for smaller companies that do not have the budget for traditional marketing campaigns, digital marketing is a cheap way to allow them to gain mind share, along with a host of other benefits. Good marketing data backed by solid sales figures is hard to argue against, and it is shaking up entire business models as a result. Now we have data to back up our gut feelings. Information had to be re-evaluated every time a generational shift occurred. Before the advent of data (sometimes in real time), there was a lot of guesswork when trying out new strategies. Marketers can constantly tweak their messages and get data on how well they worked to make bold experiments without risking too much of the budget.ĭata also allows marketers to prove to upper-level management and the c-suite that a particular strategy is getting good ROI. That sort of testing would have been very expensive if done with printed collateral. Even something as simple as changing colors on a web page can lead to an uptick in conversions. There's so much customer data coming in that we even coined a whole industry, Big Data, to talk about it! Compared to the torrent of consumer data coming in, traditional customer service calls and surveys seem paltry in comparison.ĭata allows us to make better predictions and creates new models of customer behavior for different niches. With the help of digital data gathering techniques and analytics, marketers can track many different consumer behavior variables at many different stages of the sales funnel. But what is driving all the innovation in the first place? The Role of Data We are going to witness a flowering of strange and new business models with these changes. That seems to be on track according to this infographic on technology spending.Īs marketing analytics continues to bring forth new conclusions, companies are scrambling to keep up with the pace of new innovations. Gartner, the market research firm, predicted back in 2012 that by 2017, a CMO would spend more on technology than the CIO. More specifically the convergence between digital marketing and traditional marketing. When was the last time you heard a new buzzword about traditional marketing? ![]() Within the next two years, we're likely to see booms in marketing-as-a-service, cognitive marketing, digital post-purchase marketing, and many other cutting-edge developments in digital marketing. Digital marketing is a trillion-dollar world, so huge that traditional marketing can easily be forgotten.
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