How to Put Big Data to Work Without it Feeling “Creepy”
Big data has gotten a pretty bad rep at this point – and it’s not for nothing. Over the past few years, the fear of data “creeping” further and further into our lives, and machines “listening in” on us, has some feeling a little nervous, to say the least. But, from a somewhat bias perspective of a marketing company, we don’t think it’s all bad and don’t think you should either. When used correctly, big data can help companies target the right customers, at the right time with the stuff they want, and more importantly, the stuff they need.
Then and Now
In the past, a lot of marketing departments probably were a little overzealous about the concept of data, and went a bit too far with personalization, taking an “anything goes” mentality. This approach can and has felt like it crosses the line, often making customers feel transparent, and even “spied” on. No one wants to feel like someone is watching their every move, I mean…that’s what scary movies are made of. In the past, customers didn’t know who, when, or where data was being collected about them, and in turn, felt mistrust for anyone or anything trying to get their information.
More recently, tech companies have realized that customers feel over-encroached upon, and are making steady improvements to be less sneaky and creepy, and more transparent. They’re more overt about the data they’re collecting, and allowing for customers to be more aware and have an increased say (which seems a whole lot more ethical, if you ask us).
The Fine Line Between Cool and Creepy
With this said, similar to an unwanted encounter at a bar, there’s still a fine line between cool and creepy when it comes to big data, but, if used correctly, it can have major benefits for both marketer and customer. After all, sometimes a (non-creepy) pickup line can lead to a happy marriage. It’s all about saying the right thing at the right time, which is what big data makes happen.
Good Data
The more “good” data that you put into your digital advertising campaigns, the more likely they are to reach the right person at the right time. Thankfully, the days of marketers defining rough, segmented target audiences in hopes that randomly placed ads would lead to a purchase are now GONE. Instead, today we’re using social media feeds, purchasing habits, browsing trends, content consumption, and other tactics to reach the right audience, at a welcomed tune. With good data, we have the ability to know exactly who we’re talking to and how we should be targeting them. It ensures we’re following leads and people, not just metrics and trends, and, at the end of the day, it helps cut down on waste and improve ROI.
Cool Stats
If we haven’t convinced you that good data cuts down on waste, we have some stats to back it up. Currently, the growth in global ad spend is projected to reach $793 billion by 2022. Yet, marketers today estimate that they waste approximately 26% of their budgets on unproductive digital strategies. And, to make things worse, studies show that 76% of marketers fail to use behavioral data for online ad targeting. When looked at all together, most of these downfalls point to one central problem: failure to pull accurate insights from marketing data and to apply them toward strategic decision-making. That’s where the power of good data comes in. It not only provides insight, but helps drive your strategy.
Not All Data Vendors Are Created Equal
That’s right, we said it, and we’re not taking it back. Data vendors are invaluable, but they’re not all created equal. If you think your vendor is leaving the “cool” territory and approaching the “creepy” zone, there are a few important questions to ask them, like, “Is your data properly permissioned?” or “Are your audiences sourced from ‘known’ data signals?” Find more useful questions in this article, and you’ll be better prepared to decide if you’ll accept their pickup-line, or give them the old, “it’s not you…it’s me (but it’s really you)”.
Wishing You Good (Data) Luck
Now that you know how cool (not creepy) and important data is when it comes to digital advertising, let’s put it to good use! If you decide to work with Strata, we’ll help you make actionable insights, plan and strategize, and take your next digital advertising initiative to the next level. Want us to turn your good data into targeted messages geared towards the right people at the right time? Contact us today.