Updated: May 24, 2019
99% of global business decision makers believe data is critical to achieve success but 62% are unable to turn data into insights or action. On top of that, only 5% of CMOs admit to using data effectively. However, brands that are able to reach the right people, using the right data at the right time will be able to cut through the noise. - MSMW Summit.
Aleevar was invited to attend annual event of Malaysia Social Media Week 2019 on the world of social media behind digital marketing on 23rd and 24th April at MITEC. Several topics on content marketing, manage influence, budget marketing, measuring ROI, customer experience and brand storytelling were being debated during the event by excellent panelists.
But one topic really picks our interest on how to unleash the real value of consumer data. People always talk about the importance of data analytic nowadays towards business entities but not to the sense that people could see the wonder of technology in utilizing these so-called consumer data. Adrian Burton, the head of adaAcquire, spoke about audience targeting in order to categorize every customer into several personas; you could be a golfer, a shopper, or a gamer based on your daily behavior.
And with the vast availability of geo-fencing technology worldwide, companies can understand each consumer segment deeply and automate the crafting of tailored digital-first creatives at scale and speed, with very focused target group. Geo-fencing (geofencing) is a feature in a software program that uses the global positioning system (GPS) or radio frequency identification (RFID) to define geographical boundaries. Geo-fencing allows an administrator to set up triggers so when a device enters (or exits) the boundaries defined by the administrator; an alert is issued.
Thus, how can a business make use of these remarkable technologies available? Use your imagination: tracking the footfall into your physical store, observing the competitors in the area, monitoring customer movement pre and post purchase, give audience insight within the region and many more. One thing to feel secure is your identity is an anonymous unique ID. Creepy but mind-blowing.