Big Data, Social Data, and Marketing. Andreas Weigend
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1 Big Data, Social Data, and Marketing Andreas Weigend 1 What is Big Data? Big Data is the Mindset to turn Mess into Meaning 2 Contact: [email protected] Handout page 1
2 What is Big Data? Big Data is the New Oil 3 Social Data is the New Oil In 2012, people generated more data than mankind has from its beginning through Contact: [email protected] Handout page 2
3 Why? Approval Belonging Connection The ABC of Social Data 5 Shift in Communication One way Two way Asynchronous Synchronous Planning Interacting List Flow Private Public 6 Contact: [email protected] Handout page 3
4 Web 1.0 / 2.0 / 3.o Web 1.0: Digitize B2B, B2C Web 2.0: Share C2B, C2W Web 3.o: Connect C2C 7 Web 1.0 / 2.0 / 3.o 1. E commerce Focus on company 2. Me commerce Focus on consumer 3. We c0mmerce Focus on connection between consumers 8 Contact: [email protected] Handout page 4
5 Culture Shift Amazon has changed the way a billion people think about purchases Google has changed the way a billion people think about information Facebook has changed the way a billion people think about identity 9 Culture Shift 10 Contact: [email protected] Handout page 5
6 Social Data Revolution Irreversible shift in mindset of individuals: what we do, how we relate, who we are. 11 SoLoMo Social Local Mobile Proxy for person Easy interactions 12 Contact: Handout page 6
7 Nike+ Customers contribute (share runs), and connect with each other 3 times per week on average What is Marketing? Product, Pricing, Placement, Promotion? 14 Contact: [email protected] Handout page 7
8 What is Marketing? Help people make better decisions. 15 Data Strategies 1. Amazon US$ 130 bn 2. Google USD 290 bn 3. Facebook USD 60 bn 16 Contact: Handout page 8
9 1. Amazon Bezos: Make it trivially easy for people to Contribute Connect Collaborate Amazon = Data Refinery 17 Recommendations and Discovery 1. Manual (Experts) 2. Implicit (Clicks, Searches) 3. Explicit (Reviews, Lists) 4. Situation (Local, Mobile) 5. Social graph (Connections) 18 Contact: [email protected] Handout page 9
10 Social Commerce Amazon s Share the Love Amazing conversion rates since customer chose: Content (the item) Context ( she just bought that item) Connection (she asked Amazon to her friend) Conversation (information as excuse) Contact: [email protected] Handout page 10
11 2. Google GLΛSS 21 Google Latitude 22 Contact: Handout page 11
12 23 Berkeley SF Home Facebook Stanford Google 24 Contact: Handout page 12
13 Purpose of communication is to transmit information? 3. Facebook or... Is information just an excuse for communication? 1989 Stasi Contact: Handout page 13
14 1993 On the Internet, nobody knows you re a dog 2013 On the Internet, everybody knows you re a dog Contact: [email protected] Handout page 14
15 Identity Attributes Relationships 29 Non Social: Audience Marketing Social: Connected Individual 30 Contact: Handout page 15
16 Non Social: Craigslist Business Models Social: Airbnb, Branchout 31 Mindset Skillset Toolset Dataset 32 Contact: Handout page 16
17 Mindset Does your product or service get better over time, with data? When you ask your customers for data, what value do they get? 33 4 Rules for Marketing 1. Start with the problem, not with the data 2. Focus on metrics that matter to your customers, not to your accountants 3. Focus on actions and feedback, not on analytics and reports 4. Let people do what people are good at, and computers do what they are good at 34 Contact: [email protected] Handout page 17
18 Thank you! Andreas Weigend 35 Contact: Handout page 18
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