#obamacampaign

[politicsnology]

Data Mining

Question about how your employer, data, and you:

Do you believe your employer will use a device to watch and/ track your interactions with co-workers, public,etc.?

According to Fox News Reporting: Your Secret’s Out's guest claims it will… soon.

[matthew-gross-blog]

Big Data and Market Segmentation

What big data means for society

The use of big data allows for an accurate market segmentation that can be used to allocate resources in the most effective manner possible.  This information, when used accurately, will allow businesses and campaigns to run much more efficiently. The accurate predictive modeling can help prevent mistakes.  What it means for society is that we will be singled out by big companies, we will get increasingly personalized letters and emails, and hopefully we will never have to see previews for a movie like Jon Carter again.

How do they do it

This precise targeting is made possible by the use of massive databases.  These databases gather as much information about people as they can and then assimilate it in a way that provides insight into trends and create profiles of the people in it.  For example, Target assigns each customer an id number that tracks every transaction they make at Target.  They then assimilate all of that data and can analyze it to see which shoppers are likely pregnant.  If we had access to their database we could likely ascertain this with a simple query request.

SELECT *

FROM Customers

WHERE Purchase='Prenatal Vitamins';

Who uses it?

Extensive databases are used by anybody who has the ability to garner enough interactions to create a meaningful amount of data.  Whether it be Wal-Mart, the local grocer, Obama for America, or a schoolboard election; databases can be used for more accurate segmentation.  Target is known for their exceptional use of data mining to figure out when and which coupons to send customers in order to maximize profits.  Obama for America called their data the number one "institutional advantage" they had over the Romney Campaign.  They used their data to help raise $1 billion in donations and help win the 2012 election.  Movie studios use data to determine how much money a movie is going to make and can budget and release a film accordingly.  Although not everybody has the luxury of massive databases specific to their company, everyone has access to the census and other public databases that they can glean insight from. 

Where do they get the information?

The data is gathered through the use of cookies, sign-ups, and transactions.  Obama for America has been gathering data about people since the 2008 campaign using cookies.  These tiny files that are stored on the user’s browser are able to track where the user is going and what they are doing on the Internet.  This gave OFA a huge advantage over the Romney campaign who had a much shorter window to gather data.  Target gets data from transactions.  Each time an item is scanned a transaction is recorded so that they can create massive profiles of each of their customers. Analysts then study this data and can make assumptions based on patterns.

Why can it be bad?

There are many concerns about the use of big data for segmentation.  Privacy can easily be invaded without breaking any laws because these companies are so good at figuring us out.  “Sometimes data-savvy companies get so excited by their analytical horsepower that they don't stop to think of how their business intelligence is perceived by outside parties.”  Target got into some hot water after sending coupons to a pregnant high school student that had yet to tell her parents.  Extremely specific targeting can feel creepy and unsettling to the targeted if not done subtly.  Another concern I had while reading these articles is the possibility of data ruining art.  Like Bleacher Report taking away the journalists role in journalism, movie studios may strip artistic freedom away from the director in favor of data driven results.  This is okay if we get less Jon Carter and more House of Cards, but what if it meant we never got It's a Wonderful Life or The Wire?

[matthew-gross-blog]

The Magnet, The Funnel and how I got to be on a First Name Basis with the President

        The Magnet: “Your job as a marketer is not to find leads; it is to help leads find you.”

With the overload of direct mailings and the clutter of advertising, people are growing more accustomed to tuning out the mass of marketing constantly being hurled at them.  Consumers are turning to new locations, like review sites and social media platforms, to find information to help make a purchasing decision.  It is essential as a marketer to put good information out that these consumers can find on their own, utilizing sharing buttons to increase the reach of the content.  This means putting a “magnet” of content out and using SEO and other tools to increase attraction and bring potential customers to you.

The Funnel: The marketing funnel shows the transformation from leads to customers that marketers try and facilitate.  The magnet attracts customers into the funnel, which some try to make as wide as possible, but should probably be specific to your target market instead.  This is accomplished by finding a market segment that has a relatively high probability of conversion and focusing on bringing them into the funnel.  It is important to figure out who is a potential customer and who may just be browsing without any real purchasing power, especially when you are selling business-to-business goods.  Use your magnet to bring high quality leads into the funnel so you have an easier job creating conversions.

Easy and Fun!: The beauty of inbound marketing is it is far less painful and more effective then simple cold calling or the hard pitch of the past.  Your focus is on creating personal relationships and working to help anybody who has an interest in your industry.  Rather than sending a blast of emails off of a paid list or calling random numbers in the phone book you put enough good vibes out (a mix of good content and SEO) that people will come to you.  It is then important to help the relationship grow by speaking as a human and addressing specific problems or inquiries. 

The President: Although not everybody has the budget (or the email list) of the Obama campaign, a lot can be learned from their ability to generate massive amounts of small donations through well-formatted (and well tested) emails.  The determining factor in the success of an inbound marketing campaign is targeting the leads you generate.  This means coming up with profiles of potential donors (users, buyers, etc) and sending them information that is tailored to them in a personal manner.  The Obama campaign was able to do this by highlighting different celebrities who were hosting fundraisers but you can do this by offering the correct information or products to the right potential customers.  The marketing campaign cannot be entirely automated because you must be able to break down the basic needs of the person you are going to email before you send a blanket email or you risk upsetting the lead.  A level of personalization makes the communication much more enjoyable for the potential customer, especially when coming from the President.

[djbrianveto]

Looks like the world isnt going to end in 2012 after all #VoteObama