A recent prediction for marketing in 2014 comes from Rebecca Borison, assistant editor with Mobile Marketer.
She covers Forrester’s latest marketing report “Predictions 2014: Marketing Leaders Put Insights To Use. Big Data Makes Way For Smart Data Across Social, Mobile, And Media“.
According to Rebecca, Forrester predicts that Big Data will have a significant impact on marketing in 2014.
She cites this quote from Melissa Parrish, research director and principal analyst at Forrester:
“In 2014, big data will finally be put to good use as marketers stop waiting for insights to reveal themselves and start finding actionable paths through the information. This effort will affect channels across the marketing ecosystem, further breaking down the siloes that separate interactive and traditional marketing vehicles.”
The report also predicts that more marketers will begin to utilize “affinity data” or information on user’s likes, preferences and interests, to better target individuals with content that is personalized to their interests.
The report also predicts that marketers will begin to take advantage of the “internet of things” and all the smart devices that will be increasingly connected to us through our mobile devices.
I don’t disagree with what may become more important for marketers in 2014. I am more interested in why they become more important.
I predicted that marketing in 2014 will be about culture, data and content. And that marketing leaders will need to show the courage to fight treaditional pressures to pay to promote marketing messages that no customer wants and that give marketers a bad reputation.
Big Data for Marketing is more about the questions than the answers. More about the insights than the technology. More about what’s behind the data and understanding why data is getting so big.
There are already twice as many “things” connected on the internet than people. And that number is projected to rise to 50 Billion connected devices by 2020.
The “Internet of Things” will allow us all to become smarter marketers. I do not believe it will impact only consumer-based businesses as logistics, partner ecosystems, sales relationships and product development – all can be improved with better insights and connectivity.
Ultimately, I believe the combination of the Internet of Things along with social, web and analytics “Big Data” will allow the truly social business of the future to gain feedback and insights into our buyers unlike never before.
The Big Data opportunity for marketing lies in defining how Big Data can help you better reach your customers with your messages in a way that gets them to act. And this starts with simple questions like: how did your last campaign perform? Which keywords drive conversions? What websites did my prospects visit before they came to my sites? Which social conversations are spurring the actions that lead to deeper engagement with your brand?
What do you think? Is 2014 the year of Big Data?