How well are UK advertising agencies dealing with Big Data? Well, almost half of senior ad execs surveyed by Sky IQ admitted that their agency could be using data more effectively, while fewer than one in four said their agency was investing more in data. And over half believe measuring ROI from TV campaigns is not as scientific as they’d like. Interestingly, when asked which was more important for a successful TV campaign, creativity or data, only 40% said creativity.
At this year’s Oscars, Matthew McConaughey will win best actor for his role in Dallas Buyers Club, Alfonso Cuaron will grab the best director statuette for Gravity, while 12 Years a Slave will win best picture, according to Big Data crunched by Farsite. The outfit analyses than 40 years of film industry and Academy Award related information to forecast probabilities, including real-time data and an array of variables, including total nominations, social media buzz and nominees’ previous winning performances.
How can retailers best use Big Data? One easy application would be the digitising of stores’ glass cases, such as refrigerators, with transparent LCD screens, giving the retailer the ability to display information on that glass case, Shawn DuBravac, the CEA’s chief economist and senior director of research tells Google Think. “Manufacturers and service providers who sell online tell me that their prices adjust multiple, sometimes hundreds of, times in a given week based on market dynamics, promotions and supply and demand. But the process is quite different – almost static or certainly less frequent – in a traditional brick-and-mortar store because it takes time and resources to physically change prices in-store.”
A huge 98% of marketers plan to increase or maintain their spend in 2014, according to the global State of Marketing 2014 report from Salesforce ExactTarget Marketing Cloud. Data analytics (61%) is the leading area targeted for increased budgets, just ahead of marketing automation (60%). Email is not dead either – 68% of marketers believe the channel is core to their business. The research also finds that the top three marketing priorities for the year are driving increased conversion rates (47%), boosting and improving brand awareness (46%), plus collecting, measuring and using behaviour (29%).
We’re in an era that people will look back on in 20 years’ time and say, ‘I wish I was part of that’, says Owen Sagness*. For us, innovation after innovation has become something of the norm – but never before in history has this ever happened at such a pace. In technology terms, 2013 was momentous – look at the whirlwind that is 3D printing for example – and as we move into 2014 I believe we’ll see equally impactful advancements. Consumer expectations of what technology can and should be able to do is racing ahead of what is currently possible. This is having a profound effect not only on the manufacturing of technology and software but also on the digital advertising world where there is a similar – less well documented – revolution happening.
Monday’s metric: A majority of business execs say they are not leveraging Big Data because they need to know more about how it can solve business problems, according to a survey conducted by 1010data.
At a time when customer demands are higher than ever and loyalty is at an all-time low, retailers need to get smart about how they interact with each individual customer, says Pat Phelan*. The majority of traditional retailers accept that they can no longer live in silos to their digital counterpart and need to optimise the customer experience. A retailer can’t delineate where a customer journey starts and stops – it should be a seamless experience where the customer chooses which channel to engage with the retailer through. In line with this, personalisation and customisation will continue to be extremely important considerations within the retail space across both digital and physical customer touch points. Customers are very savvy and want to be informed by brands and retailers – the challenge for retailers is to provide appropriate information at the relevant moment in the lifecycle.
Next year is the year of relevant retail. And that means brands building relevant experiences around what consumers actually want. “That’s hard work, but it’s better than the status quo,” says Richard Vincent, head of consumer at Jack Morton in London, in the agency’s 2014: 10 Things that will Matter for Brands report. “Last year there was a lot of talk about ‘showrooming’ and other presumably negative consumer behaviours that were seriously troubling to retailers. This year, the brands that are growing are the ones that embrace consumer needs, for example promoting their in-store experience as mobile-friendly.”
More than half of UK consumers have now taken a selfie, and while 18-to-24 year-olds are the biggest users - three quarters have self-shot (75%) - silver-selfies are popular with nearly a third of those aged over 65 having take one, according to the HTC One Selfie Phenomenon report prepared by Opinium.
LVMH’s Nowness digital platform - which creates storytelling around luxury content - has launched its first shoppable video.
Italy-based digital incubator H-FARM has joined forces with Italian wine promoter Vinitaly for H-ACK-WINE, a 24-hour hackathon looking to develop projects for the wine industry.
Converse tasked street artists in Hayes, London, with producing the Wall of Clash on two walls at EMI’s defunct record-pressing plant, the Old Vinyl Factory.
Samsung's Galaxy S5 had more news stories written about it than any other device launched at the Mobile World Congress in Barcelona last week, according to trends identified by content discovery platform Outbrain.
Newly launched music streaming service Beats Music has acquired Topspin Media, an outfit offering sales and marketing software to musicians.
Music-streaming outfit Spotify is in talks with banks to set up a credit facility in a move which could presage an IPO.
Fiat joined forces with Beats by Dr Dre at the Geneva International Motor Show to show off the Fiat 500L Beats Edition car, which boasted a BeatsAudio sound system with seven speakers to recreate the audio spectrum artists experience during studio recordings.
Beleaguered BlackBerry says brand loyalists expressed their outrage in tweets, blog posts, calls and comments in the media when T-Mobile US emailed an offer to BlackBerry users on its network asking them to switch their devices to a competitor’s smartphone.
World Cup 2014 qualifiers are warming up their kits – it’s national branding time.