Relevant business data is SO valuable that in some cases it is valued higher than a company’s core business itself
In marketing terms, how does a company cut through the noise, target individuals that have an interest in their service, but will also identify and remember their brand as the one interacting with them?
If you want to only target individuals that are totally relevant to your business, in a way that interests them, thus giving you the best return on your marketing spend, you will need knowledge about those individuals – data! Data is king – data is valuable… But how valuable is it really?
WhatsApp was famously acquired by Facebook for $19bn when it hadn’t really turned over any profit at all, didn’t have any assets or major wealth, and didn’t have any amazing new technologies under patent that were about to change the world as we know it. So why $19bn dollars? Data is why. They have around 200million users and growing fast. This means 200 million mobile numbers linked to texts and photos. All of these texts can be searched by keywords and linked to phone numbers and now, Facebook profiles of course. Search for world cup in that database and you have a targeted campaign with the channels of SMS and social media to reach out with!
Nest is another example of the extreme value of data; Nest is a company that has not been around for long, started by some ex-Apple employees and again not really turning any heads with their growth. Google acquired them for $3.2bn a few months ago because of data. Nest is a thermostat that is controlled via an app and learns when you like to heat up your house. Therefore, data about when people are at generally at home or not.
Just to really drive the point home – Netflix is another example. It used to be a DVD postal service only. They changed their business model to the website we know today, not because it altered their margins all that much, but because they could collect data. What you’re watching, when you watch and where you are etc…
It is clear that your business can really increase its value and profits by holding and using the correct data. How do you get your hands on it though? Not all business lends itself to the easy collection of data. There is one clever way for all businesses to collect data on customers and prospects, think about all of the email communication your business sends to the outside world. Every employee sending hundreds of emails a week or month. If you could capture data about the people they are emailing, their interests and needs, and then store it with the individuals email account, that is worth a huge amount to any business. Email Media is the digital marketing channel that enables you to do just that.
If you would like to know more about how Rocketseed Email Media tools can help your business then please do not hesitate in contacting me.