Data mining is an increasingly important tool for ad agency new business transforming data into rich business intelligence, giving your agency an informational advantage.
“The real money in social media might not reside in the ads that sit on Web sites like Facebook and Twitter, but in the data produced by users’ frantic friending and sharing.
Internet users are now spending 22 percent of their time in social media, and Internet activity leaves behind a trail of data: what people like, what they share, and who is connected to whom with similar tastes.
Brian Morrissey, Social Media Data: The Benefits of Friends
There is a shift in focus from social network sites to the data they provide. Mining data from social media sites is not only great for your clients it provides excellent intelligence and important data for you to effectively reach out to your prospective clients.
With 400 million users spending a considerable portion of their online time on site, social networks would appear to be an agency new business director’s dream.
Our accounts on Facebook contain a wealth of data about us, whereas an online merchant’s account contains only a credit card number, address and buying history.
Amazon knew your preferences and that was a good thing because they made your shopping experience better. Netfix knew that one person’s recommendation was 67% likely to be a good recommendation for you, and that was a good thing.
I recently read a brilliant article by Tac Anderson, The Cloud Opened Up and Rained Marketing Data. Here’s s snip-it from Tac’s article, how our personal information and interactions fills data-centers:
“… those data centers process that information in real-time as you move through the Webbed World. It re-calculates your personal algorithm with every click and new event, with each bit of new information you shared on Facebook, Twitter, Flickr, your blog, your online and publicly available offline behavior.
There aren’t many other options really. Most people don’t think about it. They refuse to believe the degree of accuracy these machines have. You could do as some have done those who radically removed all convenience from their lives. You could be anti-social.
Even still most people don’t realize the level of slavery they are in. We know exactly what to offer you, when and at what price. We know how often to advertise to you, in what sequence and what frequency is most effective for preparing you to buy, vote or convert.” Tac Anderson, The Cloud Opened Up and Rained Marketing Data
The shift in focus development and growth of social network data opens up new possibilities for ad agency new business. The power to personalize your agency and it’s services is much greater.
When one has access to this rich, new set of data, the ability to target the individual needs of a particular visitor grows considerably.
When one has access to My data, My media, My connections, and My influence, one can truly create a “market of Me,” where the market is customized to my needs and enhanced by my actions.
Accenture’s, Social Networks: Enabling the Market of Me
Get ahead of the curve, learn the potential for data mining for agency new business, the companies and tools that will help you make strategic sense of the data.
Another article that may be of interest: “Five Things You Didn’t Know About Social-Media Tracking”
“A recent test of 101 popular smartphone games and applications for iPhone and Android phones finds that more than half secretly sent user information to other companies”
Additional articles on the subject of advertising and data mining: