A social media expert with over 15 years’ experience in digital, Christian works with some of the biggest platforms and programmes on TV, taking social media data and making it into relevant, interesting and engaging content. He currently works at performance marketing agency Albion Cell, delivering data-driven social media strategies for clients including King.com, Jose Cuervo and Ubuntu.
Marketers are often unduly daunted by the prospect of big data, possibly because the sky really is the limit when it comes to what can be done and how much can be collected. There is also a problem in that despite it being a ‘hot topic’ for so long, most businesses still aren’t leveraging new data technologies and techniques nearly enough.
Data presents an enormous opportunity to better understand your customers and their purchase behaviour, and then hone your marketing based on these insights.
Even if you are planning to outsource your data efforts to a consultant or agency, it’s a good idea for any marketer to have a basic, practical understanding of the key aspects involved. The more intelligently targeted your marketing is, the more efficient it will be.
1) Choose the right data storage for your business
There are effectively two types of data storage: on-premise or off-premise. While off-premise is more cost effective (and used successfully by online-only businesses like ASOS and Amazon, which have been able to create their systems from scratch entirely in the cloud), there are always issues of access and privacy or security. On-premise is more expensive due to high server costs, but gives businesses full control over the data – banks, for example, use data warehouses to minimise risk. When you’re deciding which system to use, consider your priorities and choose accordingly.
It should be noted that some businesses do a hybrid approach, but the challenge here comes when you want to combine your cloud data with any on-premise data to do deeper, more thorough marketing. Lloyds Bank has successfully built a very sophisticated hybrid system but there currently isn’t a way of combining on and off-premise data very easily or efficiently.
2) Only store what you need
The key point you should think about is what, from the enormous volumes of data you can collect, you actually need to collect and store. If you store only the relevant data you can be far more efficient.