Minority Rapport - Personalisation and the Future of Marketing
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Transcript of Minority Rapport - Personalisation and the Future of Marketing
Minority Rapport – Personalisa1on and the Future of Marke1ng
The Future is Now
You’ve probably seen that scene in Minority Report
Tom Cruise shopping in the film Minority Report Source: Google Images
The one where Tom Cruise’s character walks through a shopping centre and facial
Tom Cruise shopping in the film Minority Report Source: Google Images
recogniCon technologies scan him so specific brands can deliver personalised messages to him directly.
As technology evolves, it can appear that we’re shiGing closer to the sci-‐fi world; with once-‐imagined tech becoming a reality in modern adverCsing.
Today tech advances have greatly enhanced brands’ ability to communicate with customers via the smarter use of data.
Image of the ‘TwiKer Dress’, courtesy Cutecircuit
For example, the rise of wearable tech such as Nike+ fuel bands means your next movements can be predicted based on enriched historical data about your daily habits.
Image source/ Nike Inc
Predic1ve Analy1cs and the ‘Internet of Things’
Data has become intrinsic in the rise of the technological phenomenon that is the Internet of Things (IoT).
A growing number of IoT products demonstrate the merit of predicCve analyCcs. These include the smart thermostat company NEST, who can automaCcally alter home temperatures based on consumers’ previous habits; helping to reduce the cost of energy bills.
Image source/ Nest
These sophisCcated technologies are only made successful by leveraging data insight, using the right data and applying it in the right manner to maximise the benefits customers receive.
Image source/ Nest
Data Benefits and Security
The benefit to customers is an aspect oGen overlooked
when adverCsing and consumers are considered.
Doom-‐mongers would have you believe an apocalypCc view of data and adverCsing; that all personal data is mined, available ‘in the cloud’ for ’anyone’ to freely exploit.
But in reality, we know this is simply not true.
As long as the correct security is in place, the purpose of data use is limited to markeCng, and data is used ethically for that purpose, consumers are protected.
The reality is, online adverCsing will conCnue, so at Acxiom, we believe our mission is to make it as
relevant as possible.
Tom Cruise in Minority Report Source: Google Images
The reality is, online adverCsing will conCnue, so at Acxiom, we believe our mission is to make it as
relevant as possible.
It’s why we opened hKps://abouKhedata.com/, a portal where US consumers can log on and edit details of their informaCon to receive more relevant adverCsing as well as delete certain aspects that they don’t want adverCsers to know – or opt-‐out.
Increasingly, Data Privacy is a concern for consumers, and rightly so, but in order for social media, search engines, comparison sites etc to work, consumers have to accept that there’s no such thing as a free lunch.
For most online services like social media to work, there is a cost. For them to remain free, the ‘price’ consumers must pay is adverCsing; adverCsing that we can make far more relevant.
Bringing Balance and Recogni1on
Why should consumers care about the advances in adverCsing technologies? And why shouldn’t they worry? The simple truth is that as a result, the adverCsing they receive will be more balanced, bespoke, relevant and generally beKer!
With beKer understanding, marketers can build that 360-‐degree single customer view; merging offline and online data sources across devices to gain a greater, more complete picture of an individual, and serve more relevant, personalised and engaging ads.
For example, say you’re an acCve 31-‐year-‐old man, interested in gadgets and mountain biking. Would you rather receive ads with a discount on the latest bike gadget, or be adverCsed women’s shoes?
The reality is that ever increasing levels of sophisCcaCon
ulCmately improve one simple thing.
The more effecCvely a brand can recognise their audience through the ethical use of data, the more relevant their markeCng efforts will be, and more likely a consumer will
noCce, accept and engage with that brand.
The more effecCvely a brand can recognise their audience through the ethical use of data, the more relevant their markeCng efforts will be, and more likely a consumer will
noCce, accept and engage with that brand.
Win-‐win for both parCes!
Smart companies will invest in the right technologies and partners to build a complete view of their customers and leverage insight: nurturing and delighCng rather than unintelligently soliciCng customers to ‘sell’ their services.
This allows brands to build a rapport with the minority of valuable consumers out of a vast potenCal audience to approach -‐ a minority rapport.
To learn more, click the hyperlink to read the full arCcle, ‘ Minority Rapport: PersonalisaCon and the Future of MarkeCng.’