How To Innovate With Data?

We explain how in industry 4.0, data becomes the engine of change and the operation of brands, from production to satisfying the specific need of a particular user. Answering the questions: What is a Data Driven company? What are 1st, 2nd and 3rd party dates? What are they and what are the differences between CRM, DMP and CDP? marketing evolution Marketing 4.0: From the traditional to being Data Driven There have been 4 great revolutions in marketing thought, which have increasingly required more information to be carried out and have increasingly focused more on the end user or customer than on the product. That is why the Data Driven boom .

If you base your strategy on your product, you only need the information that you yourself have generated to give life to said product, on the other hand, if you focus your strategy on the end user , you will need to use the data as an engine in your operation, in addition, to know their consumption habits, age, sex, location and if you are lucky your “Afinity Score”. “Afinity Score, is a methodology, developed by LDM, which proposes, through Data Driven and different parameters, to be able to quantitatively measure how related a user is to a brand” Israel Santiago, LDM Mexico Managing Partner Why did Blockbuster go from 84,000 employees in 2004 to 3 in 2019? Everyone knows the decline of the then leading movie rental company, Blockbuster, which in the 1990s controlled 25% of.

The World Video Store Market

And in 2010 officially declared bankruptcy. The Cambodia phone number  Netflix case study developed by the Harvard Business School looks at the rise of Netflix and the decline of Blockbuster from the point of view of focusing on the consumer rather than the product. Phase 1 As an initial part of the plan, Netflix, which was beginning to be a Data Driven Company, knew that it had to acquire as many users as possible before starting to communicate massively with audiences, so it analyzed the Blockbuster errors that made its user uncomfortable. , for example; the high charges for returning a film late or the difference in prices for the production date of each film and in response.

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They proposed a strategy and a business model without those errors and magnifying certain successes . In this case, having premieres as as soon as possible in the catalogue. When Netflix began to increase its number of subscribers .  They started phase 2 of the plan  growth in users Phase 2 Following.,  The Customer Relationship Centric mentality, Netflix began to implement the “suggestions” model and based on the data.  They had about the user, they created a profile with preferences, that is . If any user had seen superhero movies, the model suggested other superhero movies. Something “simple and logical” – you might think – but that is where the ability to see. The potential of the data comes in. Netflix did not settle for simple suggestions.

It Began To Delve Into The Use

Of data as the main tool to segment users with similar profiles. If a group of superhero movie users also watched spy content . The model would record it and suggest it to someone who hadn’t necessarily seen spy content. The model was learning about the user’s personality and his consumption preferences.1st Party Date. What is First Party Data? They are first-hand data, that is, data that is obtaine by direct interactions of users with brands . Regularly collected through the brand’s website, social networks and its CRM (Customer Relationship Management). The important thing about this data is not to collect it, it is to know how to use it.

For example, in its beginnings, Blockbuster had more data, and much more relevant .  Than what , since to get a membership in you had to fill out a form.  And present your official identification.  Where they knew your state   delegation or municipality. and colony, you registered your address with street and number.  Telephone, email, age, full name and gender . However, I never saw that Bluckbuster made a promotion related to my data, on the contrary.  They usgain it for negative situations, such as payment and return of movies or not to rent.

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