Posts tagged with 'data science'
Persuasion is a hot topic. But do you also know which of your customers you can persuade?
I recently talked to one of the leading figures in Data Science, Eric Siegel, author of Predictive Analytics. And he concludes that organizations in essence don’t just want to know what consumers will do – they want to know what they can do about it.
I never really thought about it that way, but it makes sense right?
It turns out that it's not that interesting to know what customers will do. Knowing a customer will click, or doesn't click, will move left or move right, isn't useful data. The key is to know which of your customers you can persuade to behave the way you want them to.
By focusing on persuadables marketers can achieve better results. Next to that, it could just help improve marketing's reputation.
Last year, I wrote that the digital agency was dead. I was mostly talking about how platform technology was going to knock a lot of digital media agencies out of business. In a world where over five trillion banner impressions are available every month, I argued it was simply too much for humans to navigate through the choices and wring branding effect and performance out of campaigns.
Well, digital media agencies are still around—but they continue to lose share to platforms as the amount of programmatically bought media increases. With RTB-based spending estimated to rise at an annualized rate of nearly 60% a year, according to market intelligence firm IDC, we could see as much as $14 billion in spending by 2016, or 27% of total display spending. Looks like the machines are slowly taking over.