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Marketing & Data – Taking the Next Step
Last week at the Conversational Marketing Summit in New York, Amy Chang of Google Analytics stated, “data and marketing are finally getting married”. Many of the presenters, though not as blunt, seemed to agree with Ms. Chang.
Data’s involvement in the advertising and marketing world is not brand new. Companies have been tracking our web browsers for years to deliver targeted ads. Our smartphone activity is also tracked. With more and more data now available to marketing departments, companies such as L’Oreal, Mastercard and Nokia (among others), presented marketing campaigns that used consumer data to target the messaging directly to what consumers want to hear.
Some marketers, however, have been having trouble harnessing all that data and using it to their advantage. That is where APIs can help. Terence Kawaja of LUMA Partners mentioned that not only was big data a growing force in the advertising world, but that also that APIs would play a role in the standardization of how advertising was done and how data was shared in the space.
Amanda Richmond of MediaVest USA stated that brands now need to design marketing experiences that consumers will see across multiple channels. Creating these multi-channel experiences will require more and more partnerships and more and more data sharing between partners. APIs are a vital tool to enable partnerships – by making data sharing easier, partnerships will be more efficient and effective at creating engaging campaigns.
Non-traditional marketing practices are also appearing with the help of data and APIs. Luminate, which calls itself “the worldwide leader in making images interactive”, allows data to be connected with images. So, when a user mouses-over a Luminate powered image of a celebrity, details of the celebrity’s outfit could pop-up and drive viewers to the websites that sell those items.
SocialFlow, uses Twitter and Facebook data to understand and quantify the value a brand is providing to its consumers through its social media campaigns. This type of analysis of social media allows brands to pick and choose the content it will share based on what has the most impact. Another company, Hearsay Social, allows large enterprises to manage all of its brands’ and employees’ social media interactions and track social media campaign’s success.
All of these companies are profiting from greater data availability and usability. As more companies realize that they need data to make relevant marketing and advertising decisions, we should see more and more APIs come into the marketing and advertising space. Brands will be able to create more relevant, useful content and drive greater value from their campaigns and consumers will see and content that is relevant to them and that will allow them to find what they are interested faster. That would be a win for brands and consumers.