In this week's webchat, James and Ryan discuss the value of "big data" and how your small business can use your own data to target your digital marketing to specific people who are likely to use your service/purchase your products.
To understand how valuable this data is, we explore the new company, MoviePass. MoviePass was created by one of the founders of Netflix and it allows its subscribers go to any cinemas in the US once a day, for only $10/month. This may sound too good to be true, however, it's legitimate, despite being unwelcomed by a leading cinema chain.
How does this business make money? From its subscribers' data. They pass their subscribers data onto an analytics company, who is a major stakeholder in the company.
How can small business use this "big data"?
As a small business, you probably have the information to take advantage of this "big data", in the form of your customer list, mailing database, Facebook likers and more. You can provide this data to face advertising platforms like Facebook and Google to target your advertising to a "look-alike audience" which are people with really similar characteristics to your current database.
Do you need some help making your digital advertising more targeted? Get in contact with us to help you create a look-alike audience!
Know someone who needs a hand getting their advertising in front of potential clients? Share this web chat with them!