Addressable TV, social media, mobile location, are just a few of the unprecedented number of channels generating marketing data and contributing to data fragmentation. Despite this, consumers expect the brands they engage with to recognize them over time, and across devices. That’s why these days brands need to build relationships, not simply execute campaigns. But putting that into action can be daunting.
To help you get a handle on what’s going on with Big and Little Data, take a look at the new, in-depth Acxiom survey of Big Data and Little Data. It measures big data/little data across major media, consumer goods, automotive, insurance and financial services brands, as well as more than 200 completed Acxiom Marketing Maturity Model assessments. (The Acxiom Maturity Model is comprised of five core capabilities–understanding the consumer, managing information, analyzing data, implementing decisions, and managing the consumer experience; 20 distinct dimensions; and 73 observable attributes. They are designed to help brands evaluate gaps, benchmark capabilities and refine their strategic roadmaps.)
The Acxiom Survey of Big Data and Little Data Reveals:
• While brands are successfully capturing consumer preferences by channel, a challenge arises in determining when a brand must have explicit permissioning (which supports Little Data), versus building upon implicit permissioning when the majority of their Big Data collection is anonymous.
• The promise of Big Data/Little Data integration is a broader, deeper profile of customers and prospects that informs a brand’s offers, services and delivery channels, causing consumers to feel the brand knows and understands them.
• Strategic integration increases customer engagement, drives brand affinity, helps identify high-value segments and increases customer lifetime value.
Want to know how your company’s marketing efforts stack up?
Check out Acxiom’s Marketing Maturity Checkpoint. It quickly scores you in key marketing areas, as compared to recognized market leaders. It also details your most important marketing challenges and explains what it takes to achieve your goals. It’s free and only takes a few minutes of your time.