#SMX Liveblog: The Coming Paradigm Shift In Mobile Marketing (#ms2)
Mobile devices like smartphones and iPads are cheaper, faster and more accessible than ever. For marketers this means a major shift in the way we conceptualize, approach and actualize online and offline marketing strategy will soon be in order. In this 25-minute #SMX West session MobileMoxie CEO Cindy Krum will discuss the future of mobile marketing with a specific focus on the importance of cross-device compatibility and big data.
You may have noticed this session has a special hashtag — #ms2. MS2 means this presentation is the second session in today’s 11-part Marketing Summit Track. The Marketing Summit Track is special because in this track attendees hear three 25-minute mini-sessions on three different topics during one 1.5-hour session slot, rather than hearing several speakers share on one topic for the full 1.5 hours (which is the standard SMX session format).
In this 1.5-hour block we have the following three mini-sessions bundled:
(9:00-9:25) From Content Marketing to Media Company (#MS1)
(9:30-9:55) The Coming Paradigm Shift In Mobile Marketing (#MS2)
(10:00-10:25) Revolutionizing Decision Making: How The Analyst Will Take Over Business (#ms3)
In this post I’ll cover the second in the 9-10:25 series: The Coming Paradigm Shift In Mobile Marketing. Click the above links to read liveblog coverage of #MS1 and #MS3.
// Start Liveblog Session Coverage
Cindy Krum (@suzzicks) walks on stage. She tells us she has been writing about mobile marketing since 2005. IE: Before the iPhone existed.
She starts by acknowledging that we probably all walked in here knowing what Mobile marketing is; but that we may not have a working knowledge of what Big Data is. It’s bigger than social data mining and rules optimization she says.
Mobile is growing! Everyone has lots of devices. It used to everyone had one computer, and then it got to the point where everyone had one computer and one phone. Now people generally have three or more web-enables devices that can all work together.
Great data is everywhere! Cloud computing is getting cheaper and more readily available.
RFID chips are becoming more common and the price to aquire and interact with these sensors is going way, way down.
The new paradigm in mobile marketing is all about leveraing constant streams of data from all devices and giving it monetizable value. There are four keys to this:
1) Understanding it
2) Merging it (example: Zillo)
3) Sharing it (Example: Swift)
4) Selling it (Example: Telefonica in Mexico. Created a spin-off company 100% from re-using/selling their data)
This is where the complication happens: Your information gets locked on your device. What we need is cloud-stored data. Let the data skip the user, go straight to the cloud, and then let the cloud disseminate your information between all your devices.
Apps are a great tool to help marketers collect Big Data and to help devices work together. But you have to get permission! Make sure you get permission if you’re going to collect/track data.
An example of using App data: You could use an app like FitBit to collect interesting data that can give you a portrait of fit places, what time people are eating, and even what they are eating. For marketing this is huge because you know exactly who is buying what because they are confessing it in the app.
Another example of Big Data collected by mobile devices that can be used for marketing: All kinds of information is automatically stored in your phone – like the location meta data that happens automatically when you take photos with your phone. This data can tell marketers a lot about their consumers.
We’re Entering the Internet of Things.
We’re getting to a place where we’re starting to create Smart Cities and Smart Homes. Where house objects are starting to interact through the Web or through phone sensors.
How can big data and “The Internet of Things” improve our lives? What kind of marketing is appropriate for that person in their current stage in life.
Imagine how you can use that data to cross it with other things; to better connect with your consumers.
A list of free data resources you can use to mine data:
Collect as much data as you can; get permission; monetize it; and then decide how to merge it, mine it, share it, or sell it.
Collect everything you can whether its hundreds or millions of data points because that’s going to enable you all to make smarter business decisions. How much can you learn about your customers? And how can you better speak to them? How can you learn about their daily lives and then help them improve their day to day?