It’s no secret that there has been a paradigm shift in communication and advertising since the advent of the internet, particularly now that we have entered the social media era. This week’s article discusses some of the learning curves companies are facing with the emergence of new data and advertising outlets. It looked at four “use cases” of how marketers are using online data to improve the effectiveness of their advertising- audience optimization, channel optimization, advertising yield optimization and targeted media buying. In every case except for targeted media buying, each was labeled with a low maturity level but a high level of long term potential (TMB was labeled intermediate maturity). Companies are still catching up to the technology and branching away from older, more traditional practices of data use.
One of the matters still up for debate is the use of personally identifiable (PII) data and third party data. As a consumer, I was very happy to hear that PII data isn’t widely accepted. If a company wants to know what I am looking at on their site, that’s fine by me, but I’d prefer if they didn’t know my name and address. And really how useful is that anyway? Unless they are planning to follow up with a direct mail campaign (doubtful), then behavior analysis is going to be much more beneficial to a company.
What do you see in the future for online consumer data used in marketing strategy?