Thursday, 31 October 2013

Forget Big Data, it's about Now Data

'Most data more than 48hrs old is useless'

Do you agree?

In the age of 'marketing in the moment', there is a mass exodus of marketers leaving behind the shortcomings of older list or compiled data and embracing the advantages of data marketing in the now. Some recent huge marketing trends support this, namely:

  • RTB - real-time bidding on both standard and distressed inventory is becoming the norm in CPM advertising
  • Real-time lead generation - marketers now accept without real-time delivery of leads, it will be an uphill struggle to hit cost per acquisition before the campaign has even begun
  • Twitter lead generation - the personification of 'moment marketing', twitter conversations reveal intentions that require immediate action to convert full intention into purchase
  • Last click wins marketing - in the affiliate space the winner of the conversion tends to be who engaged with the buyer at the very moment they wish to buy. For example, those at the online checkout who are prompted to enter a promo code will often do a quick Google search for a code (often they are expired!) and the site they engage with last, wins that conversion
  • Retargting advertising - is all about reminding people when they are more likely to buy (i.e. on second/third site visit)
It's never been more important to be in the right place, at the right time, with the right message. Technology has been the driver which as enabled all the above trends to flourish and help marketers optimise their approach to move the consumer along the purchase funnel and be there at the crucial decision making moment.

Some might argue that data older than 2 days has a value, but given the plethora of real-time time marketing options, it's clear given the choice, 'marketing in the moment' is where it's at right now.

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