Last week I attended the PSAMA Market Mix at the Bell Harbor International Conference Center in Seattle, Washington. As one of the few attendees or sponsors not from the area, I was welcomed by the AMA board, other sponsors and attendees. As a sponsor, one of the main goals for ASPE-ROI was to gain brand awareness among Seattle marketers, and I believe out of the 300 attendees, the majority will recognize the ASPE-ROI brand when they see it again, or think of us when they have training needs.
The PSAMA put together a great workshop and presenters spoke about topics including storytelling marketing, display advertising, marketing trends, mobile optimization, big data, video, CRM and much more. With such diverse and interesting topics, it was hard to choose which breakout sessions to attend. However, the two that stood out to me were the big data panel and the luncheon keynote.
Big data is a hard to define term – so hard, in fact, that panelists Shish Shridhar of Microsoft and Adam Wiener of Redfin could agree that any definition should mention volume, velocity and variety, but still had no true definition. During the breakout session “Big Data: Peril, Promise, Prediction,” Shish and Adam answered questions about how marketers can use big data, and the transformation of what the marketer’s role now entails. Here are a few key points and ideas they discussed:
- Big data does not equal magic data – you can’t expect that merely gathering the data provides answers; you must interpret that data and apply it to your circumstance.
- It is raw and fast – you get real insights in real time. The days of a formal process and analysis are gone.
- Following Twitter sentiment in real time can give you similar findings to formal surveys that may take days or weeks, not to mention a lot of money, to finalize. Just make sure you have the volume you need to make an educated assumption.
- Roles are changing – marketing, IT and business intelligence departments need to interact with each other. Adam mentioned that at Redfin, it is typical for the marketing department to go to the data scientists with a hunch and ask them to find data to support or negate that hunch in order to capitalize on a new opportunity.
- You can optimize business using data to create competitive advantage.
During lunch, Ekaterina Walter (@ekaterina), Social Media Strategist at Intel and author of Think Like Zuck, presented “Five Trends Marketers Shouldn’t Ignore.” Her presentation was fast-paced, intelligent, intriguing, and garnered the praises of every attendee. Here are the trends she said can’t be ignored:
- Power of millennials – They are content creators, have huge purchasing power, and still have the desire to make the world a better place with their entrepreneurial spirit. (Learn more about millennials in the workforce in our Millennials Rising web seminar.)
- Integrating mindsets and convergence – Departments need to work together to integrate new technologies and capitalize on opportunity. There are so many tools and analytics that marketers have to have a connection with data experts, IT and sales in order to increase their ROI.
- Cultivate agility – Real time marketing requires around the clock monitoring for many brands, an action plan for disaster, and even the ability to react quickly to earn positive attention. Examples of how brands quickly used the Super Bowl power outage to their social media advantage:
(Learn more about Agile Marketing with our web seminar Agile Marketing: What’s All the Fuss About?)
- Rise of visual marketing – Infographics are entertaining, informative and stimulating. Use them with humor and your graphic could be the next trend like SmartCar’s response
- Dangers of online influence – Keep in mind that once information is out there, it can rapidly take on its own life – good or bad. Just look at this infographic from Intel. Another staggering statistic (sorry I can’t remember the source): 10% of people who hold an unshakable belief can convince the rest of the population.
- Bonus trend: Dorm rooms to board rooms – What’s happening in dorm rooms should be known by people in the board rooms. When executives engage in social media, the sentiment for their brand usually trends as honest and trustworthy, gaining brand loyalty and positivity.
Finally, I’d like to give a special thanks to Ashley Bogard of CRG Events for all of her logistical help, and to Jeela Ganje of KP Corporation and PSAMA Board Member, who was a wonderful connector and brand ambassador for ASPE-ROI. And to Ipsos for my new Kindle Fire HD – I finally won a raffle and it was a great prize!