|By: Rudy Arnold (firstname.lastname@example.org)|
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Marketing at Warp Speed? Captain.
We constantly flirt with the word “change” in Marketing, but is it really change or is it simply new makeup we’re trying on, or a new cologne. Underneath the hood Marketing is pretty much the same game just played in a new way. My Marketing goals have basically stayed constant, increase profit margins and reduce the spend. Have yours changed? We do, however, have newer, shinier tools to complete the job.
With the advent of the Big Data boom, technology to create intelligence from that data, also boomed. More data requires speedier ways to look at it. Don’t you agree? Hit counters, suddenly turned into Google Analytics. Remember “old school” data modeling? It required a SAS Savant with a special education and computer skills dedicated to hand crafting models. Not today, now you can get your results in a few minutes with Predictive Analytics using cloud based technology. What’s next after AI and The cloud? I don’t know but I cannot wait to see it, or maybe we’ve caught a glimpse already?
The Minority Report
One of the reasons I got into marketing was because of a science fiction movie called “The Minority Report”. Now it wasn’t the plot of the movie that interested me (it’s good too though) but about what happened in one scene in particular. Tom Cruz is trying desperately to hide in a mall, but everywhere he went retina scans and objects on his person betrayed his location. His jeans, his shirt all tagged and triggered ads to pop up as he came in close proximity of the stores (3-D holograms in the movie) at the time I really laughed out loud, but the reality of that moment hits me in the face every day. I walk by a geo fenced store and boom a beacon pings my phone. I shudder to think how far and fast we’ve come since 2002. We started by emailing batch and blast style, to 2018, where Personalization, Predictive Modeling and The Cloud rule the day.
We pretty much know exactly where you are and what you’re doing right now, and it’s sobering to even the most aggressive of marketers. We can predict, with some accuracy, what it is you need at this very moment. “Intent” data gleaned from your web browsing behavior and social media posts are synthesized and combined (anonymously) with your offline data to predict what it is you need or want. This type of knowledge and data has fueled many a privacy debate, even some regulations like GDBR you may have heard about recently. No worries though. You can still tell the good guys from the bad.