LovEconomics 2016 – Digital by Heart
Did you know that there were 3X as many searches for “gifts for boyfriend” than “gifts for girlfriend” in February 2015, due to Google? In the past I blogged about LovEconomics on what people spend for valentine’s day. British shoppers spend in average 119 GBP, while Germans for example only spend 59 GBP. How much are you spending? My past articles about valentines shopping have been using sources of best seller from last year. These times are over.
This year I like to add a different perspective. Times have changed. Are you tired of reading all things articles about the hottest and newest things? Forget about it, it is Valentine’s Day and you should be thinking about what to do with or how to spend a great time with your love.
Time of “what’s next” expectation
The data revolution is establishing a shift, a shift in mindset. This new digital workplace, recommendations and social media has created a “what’s next expectation”.
What does this mean? All the apps we use, for fashion shopping, booking vacations or my analytics dashboard as a B2B marketer, all changed from showing the status quo, to “tell me what I should do next”.
Which car should I book if I have booked my flight from Frankfurt to San Francisco? Which action should I take if my forecast pipeline coverage has crossed the critical minimum? You may know what positive or negative events you would like to have an alert for and guidance how to communicate success or action to avoid missing your numbers.
This where the data-driven marketing and sales approach is going. Back to Valentine’s Day.
What will be the most trending valentine gifts 2016? How to save money?
Indix.com found out that a standard Ghirardelli chocolate is about $1.35 per ounce and when it is marked as a “Valentine” or “gift” product, it costs closer to $1.50 per ounce. The other offenders, Ferrero Rocher and Russell Stover, saw about a $0.15 and $0.25 difference respectively as well. Indix and other vendors for price intelligence and content benchmarking integrate this information with Informatica MDM – Product 360 to monitor the channel pricing of a brand or compare product content or assortment sizes to competitors. (Also a good read is “3 Ways Price Intelligence adds Value to Your Product Information”)
With all great ways to be predictive, one thing will never change. The need for speed, and the best ranking in search results, makes the difference in the digital world.
- How good are you ranked at Google or Amazon?
- Which search result comes up in your webshop?
- What search is trending in your web-shop?
- How fast are you on launching a new product, compared to the competition?
- What things are trending on Google?
- What semantics and pics are trending on Twitter, Facebook, Pinterest?
- How to analyze this?
- How to tie this to your marketing strategy?
A big CPG brand which’s products are used by billions of consumers every day said “Informatica and the digital content are at the heart of our business to drive customer experience and sales”.
For me, being Digital by Heart is the real LoveEconomics. Understanding digital data as the heart beat of the next best offer and action.