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Andreas Weigend @aweigend www.weigend.com. HSM World Marketing and Sales Forum The New Data Revolution: Impact on Marketing S trategy November 2010. In The Last Minute…. Who creates data? Production : Everybody. Data as digital air How will this data be shared?
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Andreas Weigend @aweigend www.weigend.com HSM World Marketing and Sales Forum The New Data Revolution:Impact on Marketing Strategy November 2010
Who creates data? Production: Everybody. Data as digital air How will this data be shared? Distribution: Everybody is a contributor What will this data be used for? Consumption: Help people make decisions
It’s about… …bridgingthe physicaland the digital
Where Are Decisions Made? • Brick and mortar • Traditional media • Web • Mobile Trust? One-way push vstwo-way communication?
Who Helps With Decision Making? • Friends (people who like you) • Real life • Online • Peers (people like you) • Experts • Institution? • Past action? • Reputation/ brand as shortcut for attention • Ad hoc groups (e.g., for car purchase)
Social Data Revolution Howthe Changes (Almost) Everything
1970’s BuildingComputers
1980’s ConnectingComputers
1990’s ConnectingPages
2000’s ConnectingPeople
2010’s ConnectingSensors
Mobile Phones • Capture context and situation • - Ambient sound, light • - Geo-location (place, movement) • Allow for lightweight interactions • - Micro-tasks (annotating) • Attached to a person
Time Scales Biology: ~100k yrs Social Norms: ~10 years Data, Technology: ~1year
Creation / Production of Data • The amount of data each person creates • doubles every 1.5 … 2 years • after five years x 10 • after ten years x 100 • after twenty years x 10000
Distribution • Distribution is now distributed • Distribution has become social
Consumption • Attention • Cognition • Behavior change
private public
Web 0 Computers Web 0 Computers Web 1Pages Web 2People E-business CONSUME Me-biz CREATE We-biz SHARE
Imagine... • You knew all the things people here have bought • You knew all of their friends • You knew their secret desires ... what would you do?
How do you know peoples’ secret desires?
Goal: Help customers make decisions… …based on reviews
Goal: Help customers make decisions… … based on clicks and purchases
Sources of Data • Attention • Clicks, Transactions • Situation • Geo-location • Device • Intention • Search • Connection • Social graph • User generated • Reviews
Case study: What data fortargeting of a new phone product? • Traditional segmentation • Demographics • Loyalty • Connection data • Who called who?
1.35% Adoptionrate 4.8x 0.28% • Traditionalsegmentation • Connection data
Company Customers
Result:Amazingconversion rates since customer chooses Content (the item) Context (she just bought that item) Connection(she asked Amazon to email her friend) Conversation(information as excuse for communication)
Purpose of communication:to transmit information? Or is information justan excuse for communication?
Social graph targeting Provide list of prospects