5 Digital Marketing Trends for 2015

http://www.business2community.com/digital-marketing/5-digital-marketing-trends-2015-01063449

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Future of Digital Marketing is You

Source: http://www.pbs.org/wgbh/pages/frontline/media/generation-like/the-future-of-digital-marketing-is-you/

The future of digital marketing could revolve around you as the customer. The sheer amount of data collected through various social media channels is simply staggering - each minute that passes there are an estimated 200 billion emails sent, 48 hours of YouTube uploaded, 684, 478 posts on Facebook. Recent estimates suggests that the volume of data will grow 300 times by 2020 - this is a massive amount of data that any Internet marketer must be able to sort through to gain insight.

Not only is the amount of accessible data impressive but also the types of data that companies can have access too these days. Data could include the typical and more traditional information collected such as name and address, but, with the recent growth social media usage, data  now includes such metrics as - "How often you Facebook "like" a product"? or even "What is the websites that you most often browse?". The data gathered can ultimately be can be leveraged to determine recommendations for your next purchase. A prime example of leveraging this data is at Amazon. They employ complex algorithms that help determine what you, as a buyer, would most likely be interested in purchasing. Government organizations also have a huge stake in this data, however, their intent is to thwart potential terrorist attacks.

Researchers now have been able, using predictive computer models, to determine the attributes of a customer. With almost 60 percent accuracy, they have been able to determine such things as whether or not their parents divorced before they were 21. They could determine this just by analyzing the patterns found from a person's Facebook "likes". Internet marketers can use this data to map out the multiple purchase decision a consumer most likely would make and potentially influence them to make a sale. These predictive models not only help predict fairly accurate predictions but also have the capability to be adjusted to be more accurate in the future.

Companies now have been venturing into the idea of using sensors to collect even more data about a person. Physical objects such as televisions, refrigerators, thermostats, cars, watches are equipped with sensors to collect data for analysis. The opportunities to collect data is endless. Jeff Eden, principal at DEG, an agency that designs digital marketing strategies for companies, sums up this new trend like this: "We're able to see this kind of 360-degree view of an individual" and adding: "It's like Minority Report. We're there."

Big corporations, such as Apple, have already started laying out the framework to collect more information about a person. The latest announcement by Apple of a new watch essentially allows Apple to collect user metrics such as heartbeat rate and distance walked. The data collected can help build a profile that will undoubtedly help companies predict what, when and where digital content can be placed front and center to that person.

Nest is another company that has introduced home automation hardware and software to the market. These products help users automate and remote control such functions as your heating thermostat. Internet marketers should also realize that there is much data to be collected and analyzed from the very usage of these products. The data that is collected can help target customers at the opportune time.

Companies now want to move into the next evolution of Internet marketing and that is to know how exactly a customer feels before, during and after they make a purchase. They essentially want to know what customers feel at any given moment. Knowing how you feel will ensure that marketing content is displayed and customized at the right time and place for a customer. Microsoft researchers have used Twitter to predict major depression, with 70 percent accuracy, by simply just analyzing time, content and frequency of tweets. 

The depth and breadth of data out in the world has drastically increased and is on mark to explode in the coming years. The key message to take away is the nuggets of valuable information that can be extracted from analyzing the data that is available to you. Although the data is readily available to marketers, there is a fine balance between customer privacy and customer experience. Some companies have seen backlash on how they have used the data collected from customers. A recent example is the fiasco with Target and the backlash they received from they way they utilize customer data. 

Although Internet marketers have a plethora of data available to them, they must be cognizant of the risks and use it in a very pragmatic manner so to not to create backlash from customers. Understanding your customers at such a granule level can lead a company down a risky path. Internet marketers should tread cautiously as any wrong move could potentially reduce your bottom line.