Archive | Business-to-Business RSS feed for this section

Connected Vehicles Generate BIG Data

14 Feb

This post is a follow-up to yesterday’s.

___________________________________________________________

As we know, the auto industry is in the midst of a major technological revolution. Although self-driving vehicles have garnered a huge amount of attention, “connected” vehicles will also have an enormous impact on marketing. Why? From the consumer’s point of view, connectivity means better Bluetooth interactivity, GPS systems, entertainment systems, roadside assistance, diagnostics, and more. From the seller’s point of view, connectivity means access to lots of big data.

Consider these observations from Felix Richter, writing for Statista:

“Modern cars are equipped with more than 100 sensors that create a constant stream of data. Measuring things like location, performance, physical parameters, and driving behavior, often several times per second, the amount of data generated by these sensors is immense. According to a McKinsey estimate, connected cars create up to 25 gigabytes of data per hour. That’s the equivalent of nearly 30 hours of HD video playback and more than a month’s worth of 24-hour music streaming.”

“According to the analysts in charge of our Digital Market Outlook, the data created by connected cars have a lot of potential in terms of monetization. Think insurance companies for example, who would likely be willing to pay good money to find out more about our driving habits. For more information about this exciting new market, please download our free market report Connected Car: Vehicle Services.”

 
Take a look at this chart to see how big the data collected from connected vehicles really are.


 

The State of Big Data in 2017

13 Feb

As we have noted several times over the years (see for example: 1, 2, 3), big data are an important element of the marketer’s toolbox. So, what is the state of big data in 2017?

Recently, eMarketer published its Big Data Roundup for 2017:

“Most key objectives of marketers are rooted in big data, from targeting and customer relationship management to attribution — and even artificial intelligence. eMarketer has curated this Roundup of articles, insights, and interviews to help you understand why and how advertisers and marketers are putting these large, complex data sets to work.”

 

“Big data are gradually becoming a part of U.S. business, and companies that are able to take advantage of their scope and complexity appear to be seeing benefits. In January 2017, research from NewVantage Partners  revealed that at least half of organizations are incorporating some type of big data initiative. Not all areas businesspeople were polled on got high marks. Of the big data initiatives executives were asked about, establishing a data-driven culture and making over their business for the future had the lowest success rates, both at 27.9%.”

 

Click the image to view the Roundup report.

 

Fortune’s 2017 Crystal Ball

8 Feb

Each year, Fortune magazine presents an interesting series of predictions for the coming year.

The 2017 “crystal ball” is based on these principles (and includes the use of IBM Watson 🙂 ):

“The election of Donald Trump to the presidency represents a seismic shift in American politics, an event with implications nearly impossible to predict. One casualty of the election, indeed, may be the science of prediction itself. For all their algorithmic gymnastics, pollsters and betting markets were utterly confounded by Trump’s win. Which is why it’s essential to have a prediction tool that relies as much on art (and whimsy) as it does on science. And this year, for some extra insight, we’ve even teamed up with artificial-intelligence powerhouse IBM Watson, which mined tens of millions of sources to help us spot hidden trends. Here, we offer our well-informed, intuitive take on the stories that will shape business—and much else—in the coming year.”

Fortune’s 2017 predictions are divided into several categories:

  • Techno-Futurism
  • Politics
  • Economy
  • The World
  • Trendsetters
  • More Companies Tie the Knot
  • Where Fortune Is Placing Its Bets
  • How We Did in 2016

 

Click the image to read the 2017 predictions.


 

2017 Global Economic Prospects from the World Bank

3 Feb

Each year, the World Bank publishes its global economic outlook — and makes it available for free!

For 2017, the World Bank expects the following:

“[In 2016,] stagnant global trade, subdued investment, and heightened policy uncertainty marked another difficult year for the world economy. A moderate recovery is expected for 2017, with receding obstacles to activity in commodity-exporting emerging market and developing economies. Weak investment is weighing on medium-term prospects across many emerging market and developing economies. Although fiscal stimulus in major economies, if implemented, may boost global growth above expectations, risks to growth forecasts remain tilted to the downside. Important downside risks stem from heightened policy uncertainty in major economies.”

 

Click the image to access the full 276-page report in PDF format.

 

Influencer Marketing: Coming of Age

1 Feb

One of our most popular emerging concepts is “influencer marketing.” What is it and how should it be used?

Consider these observations by Lee Oden (CEO of TopRank Marketing):

What does ‘influencer marketing’ mean to you? Are you thinking of celebrities posting product photos to Instagram? Or having a famous YouTuber run a contest for a meet and greet at an event? Why not send products to bloggers in the hopes that they’ll do a review and say nice things? Surely that’s not all enterprise marketers think of when it comes to the possible outcomes with influencer relationships.”

“The promise of brands collaborating or outright paying influential individuals to create content that lifts the brand’s credibility and reach to sell more products is something that companies of all sizes have been hot on – especially in the past 12 months. With a groundswell of interest, there are many divergent interpretations of what influencer marketing really means.”

“With so many different opinions, best practices, and even definitions, we set out with influencer marketing platform Traackr to bring clarity and future direction by conducting research into the practice for large, enterprise organizations. We also engaged my pal and respected futurist, author and analyst, Brian Solis of Altimeter Group to conduct an analysis of that research and write a report outlining what is working, what isn’t and future trends.”

 
Take a look at Influence 2.0: The Future of Influencer Marketing Research Report 2017, in-depth analysis and research on influencer marketing. Click on the image for the full report. [Note: a FREE signup is required.]

 


 

Don’ts for Businesses Using Social Media

30 Jan

In this new era of fake news, alternative truth, and inflammatory messages on social media, it is a good time for us to appraise (or reappraise) our own use of social media. Are we doing the best we can to avoid careless mistakes or inflammatory language?

Recently, Annie Pilon described “20 Taboo Topics to Stay Away from on Your Company’s Social Media Channels” for Small Business Trends. Here are some of her observations. PLEASE keep them in mind when utilizing social media and reacting to comments by others:

“If you use social media to promote your business online, you’ve probably put a lot of thought into what types of posts to share. But sometimes it can be just as important to consider what NOT to post on social media.”

             “Making fun of specific groups of people can go too far.

Even the occasional complaint about customers can be enough to damage your brand.

Avoid complaining about your employees online.

Customers want to know that you have a team that they can trust.

Nonconstructive criticism about public figures can seem petty to your social media followers.

You don’t want to be too intrusive when asking questions of your followers.

Be careful not to share anything that’s not true, as it can make your business look bad and lead to your followers being misinformed.

Healthy competition can be good for a business, even on social media. But there’s a big difference between a friendly back-and-forth and trash-talking.

Social media also isn’t the place to share sensitive or confidential information about customers.

Don’t share with followers every time you’re having a bad day or just feeling ‘blah’ about your business.

Posting anything illegal, whether it’s drug use or even just speeding, is a very bad idea.

Stay away from sharing any content that could be considered controversial.

It’s also best not to post anything that’s irrelevant to your audience.”

 

Click the image to learn more from Pilon.


 

%d bloggers like this: