MarTech has traditionally focused on the execution of marketing and advertising campaigns. Whether it is DSPs, DMPs, content marketing, acquisition, etc., MarTech stacks concentrate on the implementation of marketing campaigns. However, as MarTech data becomes more diverse, there is an opportunity to help on the front-end of marketing campaigns—through segmentation and persona building—enabling marketing strategists to create more holistic pictures of their target consumers and ultimately increase marketing ROI on the backend. What is segmentation and persona building?
Big data is one of the newest buzzwords to captivate brands and agencies attempting to infuse their marketing campaigns and innovation strategies with fresh insights. But as with most buzzwords, the concept behind them isn’t new. Big data has been around for over a decade. But the influx of venture capital and subsequent startups in the MarTech and AdTech spaces harnessing big data is starting to reach a fever pitch.
The lines between market research and marketing data are blurring. This really comes as no surprise, however. The convergence of these two disciplines was bound to happen at some point. While both industries are grappling with the implications of what this phenomenon means for the way they conduct research, startups shops are seizing the opportunity. The good thing about change is that it opens a dialogue about what needs to happen next.
I just returned from my first SampleCon in New Orleans today. I was asked to join a panel of thought leaders discussing Innovations in Engagement of Hard to Reach Audiences. We didn’t solve the issue of how to reach those audiences from a sample perspective, but we did have productive conversations that yielded new insights on how to address this conundrum now and in the future. Dyna Boen, UB Mobile (left), Mario X. Carrasco (center), Jim Bernier, GfK (right)
2.5 quintillion Bytes of data is created every day which would fill 10 million Blu-ray discs. These discs when stacked on one another, would measure the height of 4 Eiffel Towers, per Ben Walker of Voucher Cloud. Companies are scrambling to store all this data and data scientists are now one of the most sought after careers as we try to make sense of all of this data. The potential for big data to solve company, country, and global problems seems infinite.
Big data continues to be a central point of conversation in the market research world. Whether it is touted as the end of market research as we know it or the beginning of the new market researcher that weaves big data and custom research into a projection of the future, one thing is for sure, big data is here to stay.