In the last decade, the cost of storing data on disk has fallen by something like a factor of 10. As a result, the traditional approach of storing pre-defined fields in a database is being supplanted by a “record everything” model.
However, the ability to collect data on such a large scale is a double-edged sword.
We now live in a Google, Facebook and Apple generation where consumers expect great experiences that are intuitive, social and instant. This change in expectation has put increasing pressures on businesses to delight customers. In these increasingly competitive times the importance of both acquiring and retaining new customers has never been so high.
One of my proudest moments as editor of Marketing Week was stealing Mark Ritson away from our direct competitor and hiring him as my lead columnist.
From the level of media interest in their affairs, you’d be forgiven for assuming that big businesses are the backbone of the UK economy.
Yet as 4.9 million small businesses now contribute increasing billions of pounds to the British economy each year, the business landscape is evolving. And so is the culture.
In 1913, Henry Ford designed his first moving assembly line revolutionizing the manufacturing processes of his Ford Model T. Now, a new revolution in manufacturing has taken place. 3D printing has the potential to change not only the way things are made, but also the way they are consumed. So, what do these changes mean for brands and for their customers? We talk to Charlie Maddock, who is based at Shapeways, one of the leading 3D printing marketplaces.
We had an amazing time at Qubit Bright Sparks in London last week. The theme was “Fast Customer, Faster Company” and we had an agenda packed full of insightful keynotes, networking opportunities and demos with some of the most innovative technologies in the ecommerce space. Just in case you missed the event, we recorded all our keynotes to watch on demand.
“The word consumer is now dated, no-one is purely a consumer anymore." This feels like a strange statement to make when you are MD of a company that has the strapline “Understanding the new consumer”. But this is what makes my conversation with Henry Mason, of the independent trend firm, trendwatching.com, so riveting. He has strong opinions. Opinions informed by the thousands of trend-spotters the company has in every continent.
The proportion of budget that marketing is willing to spend on digital marketing technology is continuously rising. A recent report, conducted by Econsultancy and Responsys, claims that 70% of businesses shall increase their investment in digital marketing technology in 2014.
Last week we hosted a webinar with Staples and Forrester with the provocative title “Would you bet your job on your A/B test results?” The title is, in some senses, rhetorical. But before the webinar, I found myself asking: could I? I mean, not just rhetorically, but really. Could I actually bet my job on my A/B test results?
What the question provoked in my mind was not so much a job-losing nightmare scenario, but rather a feeling of not being equipped. Not equipped, because, like so many people in marketing, I haven’t got the statistical training that real-time marketing actually requires. Not equipped, because, like others in e-commerce, the term “A/B testing” is bandied around so much that the hype has somehow blurred it into a redundant buzzword: more fashionable than critically examined.