In this blog series we bring you the highlights from our recent Big Picture 2015 event on B2B digital trends. In this session, Roy Jacques, EMEA Managing Director at Sysomos, explored how B2B brands can derive real value from data and analytics. Effectively harnessing data enables brands to connect with their customers and deliver personalised and relevant experiences.
Data is being produced at the speed of light, and every hour, the Internet consumes enough data to fill 7 million DVDs.
Despite the rapid growth in production and consumption of data, there is a huge shortfall of data analysts, and brands are failing to recognise its potential. Those that are able to utilise it will reap the greatest rewards. This can be done in a number of ways:
Focus on quality, not quantity:
Gathering a vast amount of data will not necessarily equate to more or better insights. The quality of the data is key. Focus on what you really need to create valuable insight.
Use data to pre-empt customer needs and new opportunities:
Smarter, interdependent databases are allowing the world of data to advance from descriptive and associative, to predictive and pre-emptive, in order to meet customer needs and make the most of emerging opportunities.
The challenge for marketers is to shift the focus away from the ROI of social media, and instead start asking “how can I use social to improve my business and customer experience?” Often, brands blindly jump onto new social media trends for the sake of it. Social media tactics and activity should carry them towards their end goal and be relevant to their audience.
Don’t just listen. Understand:
Brands need to add context to data for actionable insight. This can be done by setting up listening profiles and looking for insights within information. Set goals beforehand. Align new insights back to primary goals and core activities, helping to get you into a position where you can predict customer behaviour.
Marketers should embrace big data:
Take advantage of big data by using data science to leverage influencers in target communities. Understand the conversations within your communities, including how the stakeholders interact and the sentiment. Check out Roy’s full presentation: