Mining for actionable insights!
I grew up in the “boom” of digital where the first thing I did when I arrived at college was create a Facebook account, Myspace was still popular and iPods were big and clunky. Fast-forward a few years later, I sit at the cross section of information and development of new digital ideas at Santy Integrated. Big data is a BIG part of my job. My philosophy when handling big data…find the insight.
As I find myself taking a breather from what seems like a never-ending day of creating digital reports I ask myself, what is it I do? What service am I providing my clients?
Digital has brought us the powerful gift of information. Whether we like it or not, almost everything we do online is tracked and your personal information is collected.
When I put together my digital report on a campaign it’s easy to report on clicks, likes, Facebook fan growth etc. but sending only this information to the client isn’t enough. The key is to dig deeper and find actionable insight that will help grow a brands audience and increase their revenue.
For example, Santy recently ran a Facebook application with nearly 50,000 visitors in a week. It was simple in nature and gave away product to the consumer. As users signed up to use the application, it collected over 2.5 million data points about participants interests, likes, education levels and demographics. This in turn gave us the opportunity to mine for insights. From this data we discovered a disconnect between who the brand thought their consumer was and who they actually were.
The app collected actionable information; it helped determine the next product to launch and opened their eyes to a whole demographic they were missing. The brand believed their core consumer base to be in the upper income demographic. After mining the data for psychographic insights we discovered their target skewed more middle class. This insight provided the client the opportunity to market in different media channels and spend their marketing budget in a more efficient way.
With digital you can dive down the never-ending rabbit hole of data but at the end of the day if you don’t find the insight with the potential to affect your clients marketing mix or provide opportunity for growth in revenue…keep digging.
-Words of wisdom from our Digital Strategist, Alex Berger.