Social media has a lot to do if it is to live up to its billing. Marketeers, it would seem, are having a hard time proving the ROI for all their expensively assembled social campaigns. It would appear translating followers into a financial benefit, even if they "like" you, is a feat Harry Potter could struggle to achieve.
This week we have heard from Sir Martin Sorrell who has shared with us his view that twitter is a PR and not an advertising medium. It would appear that there is a lack of consensus as to the correct definition, role and outcomes social media can deliver amongst the marketing communications industry.
Clearly these new and exciting communication tools have a lot to offer and we are only in the infancy stage of our understanding of best practise. Perhaps our expectations for social media are too high, not surprising given the constant hype, perhaps social is not the only answer to the engagement problem after all people are still watching TV, reading newspapers and listening to the radio.
Tuesday 26 February 2013
Thursday 21 February 2013
Is big data the answer
Big data has arrived, no doubt about it. Every where you turn whether its blog posts, industry titles or the great and the good of the corporate world people are talking about big data and its ability to bring clarity and predictability to businesses and brands.
Maybe I am being naive or perhaps I have not truly understood the full capabilities of this new way of working but surely the challenge that marketing professionals and brands face is what are people going to want tomorrow.
Given that my opinion, preferences and desires are constantly ebbing and flowing and ultimately being influenced by a myriad of different sources in our always connected society how can what I bought yesterday ever be a sure indicator of what I am going to purchase tomorrow.
After all data can only show us what has happened and over a given period of time it can highlight trends in people's behaviour which has a definite use. But this is only useful whilst my preferences and behaviour remains unchanged the second these start to change the data becomes less valid.
So in a world where change is the constant can big data ever be truly effective as a predictive modelling tool.
Maybe I am being naive or perhaps I have not truly understood the full capabilities of this new way of working but surely the challenge that marketing professionals and brands face is what are people going to want tomorrow.
Given that my opinion, preferences and desires are constantly ebbing and flowing and ultimately being influenced by a myriad of different sources in our always connected society how can what I bought yesterday ever be a sure indicator of what I am going to purchase tomorrow.
After all data can only show us what has happened and over a given period of time it can highlight trends in people's behaviour which has a definite use. But this is only useful whilst my preferences and behaviour remains unchanged the second these start to change the data becomes less valid.
So in a world where change is the constant can big data ever be truly effective as a predictive modelling tool.
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