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Paved With Big Data, Comprehensive Insights and Opportunity, the Road to Real-time Personalization is Open
Technology undoubtedly has altered the way people live, plan and consume. Mobile technology is integrated into daily lives both personally and professionally for almost everyone, in particular for the nearly one-third of the world’s population currently on a social media platform. Trends indicate that before long, 80 percent of the world will be on social media.
As a result of this growth, the world is in the midst of the largest information explosion in history. Because of the sheer volume of information in front of people at any time — or any moment — it is imperative for CPG marketers and retailers to have a holistic understanding of how information is consumed and how that translates to buying behaviors, product impressions and overall consumerism.
It has become second nature for consumers to get messages from everywhere — messages that must be current and in context at any given point in time. It’s difficult to know who’s watching what, when they watch and where they watch. With so many touchpoints and exposures, at times it’s almost impossible for marketers to keep pace. But the possibilities are nearly endless to make meaningful connections with consumers and leave product and brand impressions. To effectively engage, though, requires integrated data, technology and real-time assessments.
Consumer Demand / Marketing
Catalyzing the impact of technology on the way we communicate is the influence of mobile technology on social media. Facebook now has 1.5 billion users — for the first time, 20 percent of the world’s population is on the same platform. YouTube has 1 billion viewers, as compared to the 118.5 million viewers of the mostwatched Super Bowl halftime show with Katy Perry. Tablet use is up 1,721 percent, and smartphone use is up 384 percent, according to comScore, reinforcing the movement of what has rapidly become a constantly moving ecosystem.
Consider the rise of chat. Facebook’s Messenger chat service has 900 million users, while Facebookowned WhatsApp has 1 billion. Very soon, people and businesses will be able to communicate directly with each other — and this will be the next demand-creation platform. And, in fact, more than 30 companies have already signed up! Indeed, it’s not just digital — every content platform is changing rapidly.
This translates to more information and more strategic resources for consumers before, during and after they shop, thus making shoppers armed, educated and empowered. As a result, retailers must shift the paradigm of communication and speak to connected consumers directly and appropriately.
Doing so requires opening the door to new ways of thinking, for today’s audiences are scattered across smartphones, tablets, laptops and connected-TV devices. In fact, today anyplace consumers exist has become an advertising platform. For instance, we are in the midst of a video-gaming explosion. EA Sports boasts 300 million players, and these players are regularly exposed to advertisements as they play video games. Billboards will soon be “connected” to cars, allowing advertisements to be tailored to drivers’ buying patterns. And, the internet of things — a network of physical objects such as devices, vehicles and buildings that are embedded with electronics, software, sensors and network connectivity to enable these objects to collect and exchange data — is bringing the ability to even embed advertisements into wearables.
The influence of social media and the prevalence of marketing messages generate an ever-expanding swirl of things that are going to create demand. Touchpoints are expanding rapidly and behavior is shifting just as quickly. In retail, the same phenomenon has emerged and thus has had a profound effect on the CPG retail business — across channels, geographies and demographics.
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