People-to-people Marketing and “Small Data”

Actionable marketing strategies come from looking at the “small data” sets and applying human insight.

Actionable marketing strategies come from looking at the “small data” sets and applying human insight.

Human insight combined with “Small Data” provides a better customer experience

Devin Wenig, President of eBay Marketplaces recently spoke with McKinsey & Company about how digital technology was transforming the retail marketplace. One of his insights that can apply to companies serving the aviation industry was his take on the importance of “small data” vs. “big data”.

For definition purposes, let’s identify “big data” as data sets that represent large groups of people and certain types of behavior associated with their purchasing habits. This data is gathered from transactional data, website analytics and social insights, and usually requires the service of a data scientist to interpret trends and connections.

“Small Data,” on the other hand, is about putting the customer first. Engaging the customer with information and tools organized and packaged to be easily accessible, understandable, and actionable to accomplish the task at hand (think apps). Companies that understand small data can use it to their advantage by creating relationships leading to increased brand loyalty and repeat business.

“Small Data” leads to actionable strategies

Actionable marketing strategies come from looking at the “small data” sets and applying human insight, resulting in knowing your customer base as individuals – their likes, dislikes, purchasing history – and providing an easy to use, relevant online user experience.

Long tail data – a complete customer picture

A search engine can sort through millions of bits of data from a keyword query and provide an exact match, but it cannot provide additional queries for items that may be related. For example, say your website has a search feature and the customer has entered a part number. The part number query will take them to the requested part configuration but is incapable of identifying additional parts that may be needed for installation in a specific airframe or for a retrofit of a new digital component. Using the “small data” approach, the search query could also display a complete view of additional components associated with the original query, assuring that the customer gets all they need the first time around.

Relevant online experiences lead to loyal customers

People-to-people marketing requires engaging with customers by providing useful information. Thinking beyond a single data set and applying insight such as including installation tips and additional component selections creates customer loyalty. Thinking of “small data” as the “right data” will help marketers build better customer profiles, leading to a better online experience for all involved.

Additional articles you may find of interest on this topic:

Is your website attracting customers or sending them away?

Using social media to gain customer insight.

B-to-B social media strategy: Quality not Quantity

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Aviation Marketing: Using social media to gain customer insight

Blog_81_Using social media to gain customer insight

Good social monitoring brings about actionable engagement strategies

Social media offers an unadulterated view of issues and opinions that shape brand preference

When developing strategic communication plans for companies in the aviation industry, I always want to know what’s going on in the customer’s mind. Customer insight can be attained via several channels using different tactics. For example, insights can be gained from:

  • Focus groups
  • Questionnaires
  • Surveys
  • One-on-one interviews
  • Social listening

Several of the above-mentioned tactics have been the staple for customer research for many years with documented pros and cons associated with each tactic.

Social listening is a relatively new tactic that relies on monitoring social media channels. Mining the channels brings forth an abundance of customers’ opinions and conversations about your brand and information about competitors.

Good social monitoring brings about actionable engagement strategies

Social monitoring goes beyond Facebook “likes” or Twitter “followers.”  It provides an interpretation of the online conversation and how it relates to the purchase intent of customers interested in your brand. Think of it as an early warning system about product functionality, advertising messaging, and emotional connection which provides the ability to course correct marketing strategies before experiencing a decline in sales.

Forrester Research estimates that $1.6 billion will be spent this year on social brand tracking. For that investment, savvy airlines and aviation manufacturers will have a front row seat for ascertaining the tone of the conversation, what the interest levels are for  their brand, and what brand perceptions are being formed in the customer’s mind.

What social monitoring brings to the table

Customer Insight – helps aviation companies ascertain purchasing intent, triggers for purchasing behavior, and specific communities in which to focus resources.

Brand Insight – aligns Key Performance Indexes (KPI) to understand how awareness, perception, and brand consideration are formed.

Category Insight – helps companies determine how to capitalize on opportunities in specific business segments.

Social listening platforms

It takes two to have a conversation.  Blogs, websites, Facebook pages, Pinterest boards, and tweets invite customers to express themselves to you and to each other. These are global conversations about brand loyalty, customer frustrations, and service shortcomings that can identify areas for improvement.

Making sense of the conversations

Depending on the size of the company and resources available, social monitoring can be very simple or highly structured.  There are several online providers that can supply you with platforms and dashboards incorporating a host of tools to acquire and categorize the conversations, bringing statistical significance to the information for actionable implementation.

Social media monitoring tools (paid):

A comparision of the above tools can be downloaded at pr2020.com

Additional articles that may be on interest on this topic:

Finding the sweet spot for social marketing

How to engineer a social marketing strategy

10 reasons why social marketing efforts fail

 3 ways social media can help build your brand

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