TH ERE’S CERTA IN LY NO SH ORTAGE OF DATA OU T TH ERE, BU T H OW

M A RKETERS A N D BRA N DS U TILIZE TH IS VA ST RESOU RCE IS STILL

BEING W ORKED OU T

WHAT TO DO WITH ALL THIS DATA?

DECADES AGO, MARKETERS WOULD HAVE LOVED TO HAVE DEEP, PERSONAL INSIGHTSINSIGHTS ABOUT THEIR CONSUMER BASE. IT MAY HAVE SOUNDED INTRUSIVE THEN, BUT NOW WE’RE GROWING USED TO IT. FOLKS ARE COMING TO TERMS WITH THE IDEA THAT LIVING DIGITALLY COMES WITH MAJOR PRIVACY TRADE OFFS. HABITS, LIKES AND DISLIKES ARE ALL PUBLIC INFORMATION NOW—INFORMATION THAT BRANDS HOPE TO CAPITALIZE ON. THAT’S NOT SO SIMPLE. THERE’S SO MUCH OF IT OUT

THERE THAT IT’S DIFFICULT TO MAKE USE OF IT EFFICIENTLY. HOW CAN ALL THIS DATA BE PROPERLY MEASURED, AND WHAT’S THE END GAME FOR BRANDS AND

CCONSUMERS? THESE QUESTIONS WERE AT THE FOREFRONT OF A PANEL DISCUSSION AT SXSW FEATURING SOME TOP INDUSTRY LEADERS, ALL OF WHOM HAVE A HORSE IN

THE RACE.

SO M U CH DATA

JEREMY DALY, EXECUTIVE STRATEGY DIRECTOR OF Y&R OPINED THAT THERE COULD BE TOO MUCH DATA OUT THERE. SINCE THE AVAILABLE DATA IS CHANGING

CONSTANTLY, GAUGING ITS MEANING REMAINS AN UPHILL BATTLE. WILLIAMS NOTED THAT WE OFTEN ONLY REPORT OUT ON SUCH A SMALL FRACTION OF THE DATA THAT WE RECEIVE. AND STEVE WIRIG, SOCIAL MARKETING EVANGELIST OF DIGITAL

MARKETING FOR ADOBE, POSITED THAT ALIGNMENT OF DATA TO CORE BUSINESS OBJOBJECTIVES IS THE KEY. OFTEN, HE SAID, THE SOCIAL DATA THAT IS COLLECTED

DOESN’T FALL IN LINE WITH BUSINESS OBJECTIVES, AND THUS CAN BE RENDERED USELESS.

M EA SU RING W H AT M ATTERS

IF DECIPHERING DIFFERENT TYPES OF DATA AND MEASURING WHAT TRULY MATTERS REMAINS DIFFICULT, HOW ARE WE SUPPOSED TO ULTIMATELY MAKE USE OF ALL THIS INFORMATION? ACCORDING TO WILLIAMS, DATA CAN UNLOCK NEW OPPORTUNITIES. IT CAN BE USED TO UNDERSTAND THE CUSTOMER ONLINE JOURNEY, WHICH IN TURN

CAN HELP BRANDS TO BUILD RELEVANT CONTENT AND ENGAGEMENT OPPORTUNITIES. IT’S IMPORTANT, SHE FINISHED, TO THINK ABOUT A CUSTOMER’S

AFFINITIES AND NOT SIMPLY THE FINAL CLICK.

M A KING U SE OF DATA

FOR BRANDS, MINING THROUGH THIS MUDDLE CERTAINLY ALLOWS THEM TO LEARN MORE ABOUT THEIR CUSTOMERS, BOTH PRESENT AND FUTURE. BUT, AS JANE SSCHACHTEL, FACEBOOK’S GLOBAL HEAD OF TECH STRATEGY NOTES, SOMETIMES CONSUMER INTENT IS IMPLIED BUT NOT CLEAR. THERE’S A FINE LINE THAT HAS TO WALKED. BUT, IF DONE CAREFULLY, THE INFORMATION AVAILABLE THESE DAYS GIVES BRANDS THE OPPORTUNITY TO DELIVER SOMETHING MEANINGFUL TO CONSUMERS, AND CAN EVEN SURPRISE THEM ALONG THE WAY. FOR CONSUMERS, PRIVACY IS

OFTEN A CONCERN. HOWEVER, IT’S ALSO A PERSONAL CHOICE, AND AS SCHACHTEL NOTED, THIS YOUNGER GENERATION IS MUCH MORE UNDERSTANDING OF THE IDEA OFOF SHARING PERSONAL INFORMATION. WHAT’S IMPORTANT IS THAT THEY RECEIVE SOME SORT OF VALUE IN RETURN. AND THERE’S THE ALL-IMPORTANT TRUST FACTOR

THAT CANNOT BE IGNORED.

W H AT’S IN IT FOR BRA N DS A N D CON SU M ERS?