While marketers are well aware of the importance of ‘big data’ in developing targeted, personalised campaigns, few actually feel properly equipped to use it, a report from GfK and Guardian Media has revealed.
While marketers are well aware of the importance of ‘big data’ in developing targeted, personalised campaigns, few actually feel properly equipped to use it, a report from GfK and Guardian Media has revealed.
86% of the 157 marketers surveyed believe that big data is changing marketing, more than half classing it as very important and 62% claiming their job has already changed because of it.
However, only 30% say they think marketers are ready to manage the challenges posed, with one respondent asking: “How many marketers currently even know what an algorithm is – let alone how it can determine product development, placement, price etc?”
The 1011 UK consumers also surveyed for the report are aware that their data is being collected, but appear sceptical about the ways companies are using it.
Just 34% are “happy” with products that are suggested for them, 77% feel annoyed “if companies think they know me too well” and 81% believe that companies routinely share or sell on their data. Almost a third of respondents don’t think much is being done with their data at all, which suggests some degree of failure in brands’ approaches to personalisation.
Colin Strong, GfK’s managing director for Business and Technology, believes the report reveals a disconnect between what big data means for marketer and for consumers. He commented:
“Whilst companies can see opportunities for cost-efficiencies and media cut-through, the people we surveyed were often underwhelmed with the personalised messages they had received as a result of campaigns using big data.
“This suggests that with the use of big data in its infancy, the marketing industry has to become more sophisticated in its use of the information it collects to convince consumers that relevant, accurately targeted offers do actually make their lives easier.
“Crucially, they also need to prove they can be trusted with people’s personal information. Those that don’t risk not only ever decreasing business returns, but reputational damage if marketing messages are considered inappropriate or intrusive.”
As a long term Marketer and Digital Technologist I understand that the above article relates to a problem that is not just current but will increase tenfold over the next few years.
We as marketing people need to be IT savvy as well and that is not easy as the techies are bring out new methods for innovative marketing and sales just about quicker than they can be learnt and implemented.
A degree in marketing is just not going to cut the mustard – increasingly new graduates and students need to specialise at university level into a job specific role – such as Quantitative or Qualitative research, IT, WEB, or Traditional Medias.
Unfortunately this is just as a result of the corporate mind set putting its roots down further and further into the employment food chain – i.e Education.
THis is not a good thing as education should not just be about getting you ready for a specific job role but about learning an environment – because ultimately high managers need a broad skill set not just a singular approach if they are ever to steer and compete their organisations with other companies in the industry sectors they operate in.