Across the board, executives are well-aware of the power of big data, with over 73% of companies investing more than 20% of their overall tech budget on big data analytics, according to a recent study by Accenture and General Electric.
With big data, brands can predict customer needs, target certain customer segments and generate brand loyalty.
Beauty and skin care brand Kiehl’s, for example, relies on startup Next Big Sound to figure out which artists are likely to blow up in the next few months and identify the fans that skew heavily toward a desired demographic. That way, Kiehl’s can ensure that the music playing in their next ads really resonates with the desired audience.
Poshly is another data startup attracting a horde of brand clients. It works by giving consumers the opportunity to win targeted freebies in the beauty and lifestyle realms in exchange for their personal data like skin and hair color, beauty routines, problem areas, etc.
Big brands like L’Oreal and Unilever are two of the several brands using Poshly to create better product development proposals, uncover new retail channels and improve target product sampling.
Meanwhile, non-profit organization YMCA and shoe brand Asics have both found success with startup Umbel. For the YMCA of Austin’s January 2015 campaign, their Facebook ads saw double the CTR of comparable ads in the non-profit and fitness industries.
Thanks to Umbel’s data-driven platform, Asics was able to run targeted online ad campaigns based on in-app behaviors and social graph data. Ultimately, it led to millions of impressions and increased brand awareness among fitness enthusiasts.