The advent of big data
is allowing companies to deploy smart marketing campaigns aimed at smaller and
smaller segments, profiling all of us against analytical technologies that are
driving messaging from the macro to the micro.
By tapping into large
sources of data, smart companies are beginning to understand how the
demographics and buying habits of an ill-defined crowd can be distilled into
valuable marketing information to drive bottom lines.
A research report from McKinsey, published in 2011, said that
big data will become a key basis of competition, underpinning new waves of productivity
growth, innovation, and consumer surplus.
The report said that
15 out of 17 sectors in the US have more data stored per company than the US Library of Congress, and that the value of
all that big data could translate into a $300 billion saving for US healthcare,
a €250 billion value for Europe’s public sector – and a 60% increase in
retailers’ operating margins.
Understanding and
making use of big data isn’t just a challenge for marketers; it’s a challenge
also for PR, with content management becoming of increasing importance – with
compelling messages for smaller and smaller groups, even down to individual
consumers.
It’s something that,
conceptually, is well understood. Content marketing topped the digital priority
list in 2013, according to a Econsultancy
report, although only a minority of companies had a defined content marketing
strategy in place or dedicated people to carry one out.
Sophisticated Customer
Relationship Management (CRM) systems and data mining capabilities now allow
marketers to focus messages onto comparatively small target groups and, as big
data gets bigger, those groups become smaller – the ultimate content management
opportunity.
Being able to talk to consumers
on a one-to-one basis remains the ultimate dream. However, understanding consumer behaviour and
market dynamics is one thing; big data, in particular using social media
channels, will soon allow companies to talk to you and me – with a different
sales or PR message for each of us.
But big data is set to
become a whole lot bigger as “the internet of things” picks up pace, and the
virtual and real worlds become a little more blurred.
The internet of things
is all about making more intelligent use of information, by building in
communications functionality in more and more stuff – from cars to farm animals
– including the stuff we carry around: everything from store and credit cards
to mobile devices.
Nor is it entirely
science fiction, and there are think tanks and
a consortium dedicated to its development. It has come about through wireless and
computer technology – and has implications for virtually everything. (It’s sometimes also called the “internet of
everything.”)
Imagine then a world
in which every human being, animal or thing has an IP address and the means to
wirelessly transmit information. On the
upside, it could be a heart patient with a monitor implanted, and who can be
alerted when an irregularity occurs.
But as more and more
things become smart, capable of monitoring and transmitting our every click or
purchase, and GPS always knowing precisely where we are – the implications
become staggering.
The security
implications are obvious; indeed, Cisco has just launched a competition to find new ways to handle security in the
internet of things. (If you have a good
idea, they’re offering prizes of up to $75,000).
How the internet of
things develops in the years ahead shouldn’t be down to technologists alone,
because it has implications for all of us, because we’ll all have to think and
behave in new ways.
It’s therefore
something we should, at least, be aware of, and a McKinsey report from 2010 is a good place to
start. It’s the future of
communications, but it’s already here.
We are specialists in national and international PR strategy and
delivery. You can contact us at +44 (0) 1620 844736 or Charlie@davidgraypr.com or connect with us on
LinkedIn or Facebook.
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