The Internet of Things or IoT is made up of a massive collection of everyday devices that are equipped with the ability to collect data and connect to the internet. Once connected, IoT devices can capture and share data in real time, producing insights that not only benefit businesses but the consumers they serve. IoT technology may seem a bit intrusive, however, the impact it will have on the user experience will only benefit the consumer. IoT data will allow businesses to sharpen their consumer service response time, incorporate consumer feedback to enhance their products, create innovative tools, leverage automation services and much more. But, are there enough connected devices to produce meaningful insights?
This past week, Facebook announced it will provide aid organizations with anonymized location data for users in disaster areas. Powered by their own location data, Facebook will create “Disaster Maps” for organizations like UNICEF so they can understand the geo-behavior of users in affected areas before and after a disaster strikes. This is very powerful, because now organizations can for the first time visualize where people go once they flee a disaster area, helping them streamline their aid efforts and target those areas for relief.
Post campaign Attribution reports are crucial when understanding the true impact of a campaign. They provide offline ROI measurement as well as produce meaningful insights for future strategic planning. However, wouldn’t it be great to get daily insights on how your campaign is driving in-store visits? Well, these kinds of tools do exist and are extremely useful for savvy marketers.
Is post campaign intelligence helpful? The short answer is, YES! Once a campaign is completed, Attribution products can tell marketers how the campaign impacted in-store visits as well as user traffic patterns, audience insights and much more! Now remember, not all Attribution products are created equal (that's a story for another time), let’s take a look at 3 key insights marketers can leverage for their next campaign.
Until location data came about, marketers relied on digital metrics like Viewability, CTR, Engagement, CVR (Conversion Rate), etc. to understand campaign performance in real time - however, these type of metrics only judge the online effectiveness of digital media campaign. While an Ad might have overperformed industry benchmarks with a high CTR, high engagement rate and had a 100% Viewability, did it actually drive consumers to store? An Ad may have converted a large number consumers because it drove traffic to site or a promotion but did these consumers eventually make it to the offline destination? These digital metrics help marketers gauge how a campaign is performing online, but they never truly measure the offline impact.
We are living in a time where “data” has become the new oil, a highly valuable asset for many businesses. The amount of data available will continue to expand as new and emerging technologies like smartphones and IOT connected devices grow exponentially. Data holds the power to transform every aspect of a business. According to the International Institute for Analytics, businesses using data will see $430 billion in productivity benefits over their competition not using data by 2020.