Ed Cotton: Are Brands Missing A Data Opportunity?
As of now, brands are using customer data to better target their marketing efforts. But what would happen if brands use this information to work with their customers?
Nicholas Feltron , Ben Willers (shown above) and others are examples of “artists” who are collecting and using their own personal data to find ways to showing patterns and rhythms in their own existence.
It takes time and an obsessive mind to get to this level of painstaking detail and to what end?
However, it’s likely in the very near future each one of us will have a large data repository of our behaviors- some will be “ours” and some will belong to “corporations”. How we intend to use it and get the most out of it will depend on just how willing brands are to share and how many consumer-centric “middlemen” emerge to help make it happen.
Brands have for years been collecting masses of data on their customers which they’ve intended to use “against” them.
I am being “flip”, but the current state and world of data mining is really a pure B2B play with giant corporations helping brands, play with, append and manipulate their data with the prime objective being more fruitful marketing efforts.
It’s based on the old “command and control” model- with the brand controlling the data and using it to maintain their power over the subservient consumer.
Could there be another way of thinking about this?
What if brands were to give up their data and share it with their customers?
I am not talking about doing this as an act of transparency- although that would be advisable and smart, I am really suggesting there will be forms and analysis of data that could be used to make customers more engaged with the brands product or service.
Continue reading here.