comScore chairman Gian Fulgoni has published a list of the top 10 issues in digital marketing, and several are not surprising: including Big Data, Social Media and The Shift of Ad Spending to Digital. Two of these have been issues for years and big data, while newer, has certainly rocketed up in importance. In fact, it ranks at the top of Fulgoni’s list.
Further down, at number 9, is Real-Time Marketing Insights. comScore asserts that “Gone are the days when an advertiser could wait until a campaign had run its course to understand if the media plan was delivered as intended or to measure the effectiveness and ROI of the campaign. Today’s digital realities demand – and allow – real-time insights so that course corrections can be implemented quickly as needed, thereby significantly reducing waste and increasing campaign effectiveness.” What Fulgoni is mostly talking about is programmatic buying (real-time bidding), which more and more marketers are using to streamline their advertising and optimize for the best results. Of course, marketing insights play a role in that, but they also play a much larger role in marketing, beyond targeting ads and assessing their performance.
Had lunch with a social media marketing exec for one of the nation’s top companies today, and I mentioned that I’ve been starting to look into real time as a research topic. She heard my description of real time as the intersection of social, mobile, location and big data, thought for a minute and said, “I think real time is interesting, but where I think things are headed is personalization.”
By that she meant using data (social, mobile, location and myriad other data) to deliver personalized marketing experiences just for you. So, is real time just a different way of saying “instant personalization”?
Things to ponder as I (and this blog) take a few days off for the holidays.
IBM’s Big Data Analytics Study
IBM recently published its “2012 Analytics Study” looking at real-world uses of big data. Among other things, it looks at where companies are in the evolution toward actively using big data.
At last week’s ad:tech NY conference, Revlon shared how it is transforming marketing by using real-time data. This is a great example of a marketer not only gathering insights in real time but also figuring out how to act on them. Chief Marketer excerpts the conversation between Revlon VP-marketing Julie Marchant-Houle and Dan Neely, CEO of Networked Insights:
- “We are pushing out eight to 15 new products a year. We have to find ways to shorten that process because we’re not keeping up with consumers. Some of the real -time work we’ve been doing has been eliminating these time consuming ways of marketing to get learnings early and quickly adapt.”
- “The players don’t have to dramatically change; the way we work together has to change. When leveraging real-time data we need to take a more integrated approach.”
Update (11/13/12): Neely adds to the discussion with a column for iMedia Connection on real-time.
Not long ago, I attended the Seattle Interactive Conference, a two-day gathering of the best of Seattle’s tech minds. One of my favorite sessions featured Quantcast CEO Konrad Feldman, talking about the intersection of big data and advertising.
The amount of data that Quantcast is dealing with is incredible; Feldman said the company works with 40+ terabytes of raw data each day. Marketers need to shift their thinking, he said, away from the old model of media buying (based on impressions bought in aggregate) and toward the model supported by real-time bidding (impressions bought and priced individually).
Here’s a link to his deck on Slideshare.
Twitter realized that its architecture, based on Hadoop, was great for big data but not so good at fast data, so it made some changes.