So much hype surrounds big data that many media and entertainment marketers have become understandably overwhelmed. Some are not sure what its benefits are. Others think any endeavors involving big data analytics might be too complex or expensive to undertake.
Despite the perceived hurdles, big data investments continued to rise in 2013 across all industries, according to a September 2013 Gartner survey. The number one use case for big data is to garner clear audience insights to sell more relevant, compelling advertising. However, the top challenge is finding a way to derive value from big data initiatives.
Several media and entertainment companies have found avenues to use big data to create a competitive advantage. Condé Nast, for instance, uses a combination of data from its own customer relationship management (CRM) and sweepstakes registrations systems. The company then relies on Adobe Analytics and the audience management capability in Adobe Media Optimizer within Adobe Marketing Cloud.
Condé Nast is just one example of a media company putting big data to work to make advertising and content more profitable and effective.
There are three key steps to success in big data:
- Acknowledge that the benefits associated with big data are substantial. Whenever consumers opt to provide personal information, they expect highly personalized, targeted exchanges with their favorite media brands.
- Take a data inventory and determine what is already available. For media and entertainment companies, it is no longer enough just to consider age, gender, income, and location. Instead, it’s essential to go deeper within audience segments and consider such factors as social network activity, content engagement, ad exposure, and other online activities.
- Set up a systematic, step-by-step process that lets research and marketing teams identify the data that matters and deliver it to people who can act on it.
With Adobe Marketing Cloud, media and entertainment organizations have an integrated set of solutions to access and maximize the rewards of big data. Adobe Marketing Cloud solutions, including Adobe Analytics, Adobe Media Optimizer, Adobe Target, and Adobe Experience Manager, allow media and entertainment brands to better understand and monetize content and audiences, regardless of the big data and other platforms they use. Adobe Marketing Cloud Core Services, such as Mobile Services, Master Marketing Record, and Data Connectors, enable companies to manage data across solutions to maximize their return on investment.
Companies can no longer try targeting massive audiences of anonymous consumers. Big data is the key to understanding audience preferences and interests and building long-lasting relationships.
For more information about how to take advantage of big data to boost returns in media and entertainment, download the full white paper.