How to Enable Personalized Marketing Even Before 'Big Data'
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How to Enable Personalized Marketing Even Before “Big Data”
Transcript of How to Enable Personalized Marketing Even Before 'Big Data'
How to Enable Personalized Marketing Even Before
“Big Data”
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Agenda• “Big Data” Defined• “Big Data” Challenges• The MarketHUB+ Solution
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How Much Data is Out There Anyway?
One trillion gigabytes.
WOW!
1,800,000,000,000,000,000,000*Source: IDC View, “Extracting Value from Chaos”, June, 2011
OK. But what in the world is a zettabyte?
IDC has predicted that “in 2011, the amount of information created and
replicated will surpass 1.8 zettabytes.”
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IDC’s Digital Shadow Concept
“The information about you is much greater than the information you create yourself.”
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What is “Big Data”?
• Volume
• Velocity
• Variety
“Big Data” is a popular buzz word that is typically
characterized in terms of 3V’s:
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Big Data – The 3 V’s
• Volume– Staggering amounts of information
• Velocity– Data comes in rapidly and needs to
be analyzed quickly to reap full value
• Variety– Data sources are endless: social
media, retail and financial transactions, communications systems, video, web searches, GPS systems, etc
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Big Data Defined
• IDC’s definition of Big Data technology:
– Big data technologies describe a new generation of technologies and architectures, designed to economically extract value from very large volumes of a wide variety of data, by enabling high-velocity capture, discovery, and/or analysis.
*Source: IDC View, “Extracting Value from Chaos”, June, 2011
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Why are Companies Interested in Big Data?
• Enables deep customer insights - a competitive advantage– What really influences
purchase behavior?– How to market to
individuals?• Enables new products– For example, Google,
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What are the Marketing Needs Associated with Big Data?
• Marketers want to better understand individual customers and develop highly targeted, highly personalized marketing communications.
• Big Data promises to enable just that. However….
• 2011 IBM survey of more than 1700 CMO’s found that 71% felt underprepared to manage the data explosion they are facing.
*Source: IBM Global CMO Study, “From Stretched to Strengthened”, 2011
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Why is Big Data a Challenge for Marketing Departments?
ExpenseAccording to IBM’s CMO survey, the two biggest barriers for CMO’s adopting new technologies are cost (72%) and lack of certainty about ROI (61%).
Cross- Functional Collaboration
Effective Big Data solutions require Marketing to collaborate across the organization with IT and Legal departments for example.
Privacy & SecurityWith Big Data comes big responsibility – sensitive information needs to be managed appropriately.
Skill Set
The ability to analyze and interpret vast amounts of data requires new skills sets within Marketing.
*Source: IBM Global CMO Study, “From Stretched to Strengthened”, 2011
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Why is Big Data a Challenge for Marketing Departments?
Of course, addressing all of the Big Data challenges takes TIME...
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MarketHUB+Personalized Marketing Right Now
• MarketHUB+ is a Marketing Resource Management Solution
• Enables personalized marketing without the challenges associated with Big Data
• An ideal solution as a company’s Big Data capabilities are under development
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MarketHUB+One-to-One Marketing Right Now
• With MarketHUB+, Marketing efficiently leverages the knowledge of field sales personnel to adapt messaging for personalized communications
• MarketHUB+ is a web-based application with short implementation times
• Low up-front costs resulting in quick realization of ROI
Why DocuStar?
• Quick Implementation• Requires minimal IT department effort• End-to-end marketing services:– Project management– Creative– Fulfillment
• Consultative services• Workflow automation• Intuitive software• Ability to customize software
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Benefits
• Localized, personalized marketing• Maximize marketing and sales team efficiency• Reduced marketing costs• Increased speed-to-market of marketing
initiatives• Focus more on strategy and less on execution• Brand consistency• Regulatory compliance
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Next Steps
• For more information about how MarketHUB+ can help you with personalized marketing, contact us at: – 800-426-7921– [email protected]
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