Economists are warning local business owners about tough times ahead. This usually leads to cuts in marketing and advertising, but ANDRE HUGO, CEO of M4JAM says that companies need to use data more effectively to target their customers.
At the moment, it is difficult to do business in South Africa. Following the Rand’s crash and predictions of a recession, economists warn business owners to brace themselves for tough times.
As businesses work hard to keep their doors open in these conditions, costs will be cut – and the first casualties are usually research and marketing. However, now more than ever these businesses need to understand and target their customers effectively so that they stand out from the rest.
Using data to improve business strategies
That’s where data comes in. It’s become an essential ingredient in business success whether you’re a Fortune 100 company or a nimble startup. In fact, 81% of marketers consider data to be a vital part of their marketing efforts, according to a global survey by the Global Alliance of Data-driven Marketing Associations (GDMA). The reason is that effective use of data is the key to improving and refining business strategies that result in campaign success and a higher ROI.
The real value of real-time data
The good news is that getting hold of this data doesn’t need to break the bank. Integrated advertising agency, Ogilvy & Mather, has harnessed real-time insights to inform some of its campaigns and pitches by making use of M4JAM’s JAMFACTORY. The JAMFACTORY allows businesses to create, manage and run their own research campaigns and source quality data and insights in real time, for a fraction of the cost of traditional research.
According to Managing Director of Ogilvy & Mather Cape Town, Luca Gallarelli, “Research is an invaluable tool for substantive marketing, but it has been a cumbersome and expensive business with long timelines and usually one shot only. With JAMFACTORY we can gain particular kinds of market intelligence off very short leads and get the results pretty much instantly, and do it so economically that we can go round again if we need further refinement in the data.”
The case for holding on to the marketing budget
This is a great example of a business that is exploring new, cost-effective strategies to drive business value and show its clients exactly why they should continue to include marketing in their budgets when the going gets tough. Adopting a data-driven marketing approach has allowed them to take functions of marketing that have previously not been quantifiable and develop a factual base on which marketing decisions can be made. They are using insights from customers and prospects to deliver targeted messages and content that will more effectively deliver greater results.
At the end of the day, these results translate into more money for the business. Effectively using data to gain customer insights means money well spent on better targeted campaigns. In fact, McKinsey has reported that organisations that place data at the centre of their marketing decisions see a 15-20% increase on marketing return on investment on average.
Data-driven business here to stay
Talking about data might be nothing new. However, as businesses brace themselves for the year ahead, it’s never been more important to find cost-effective ways to get hold of that data and turn it into an asset by making use of the real-time insights it offers and taking the right action as a result thereof.
There is no alternative for proper, detailed research – now more than ever, data trumps opinion.
CES: So long, and thanks for all the beer!
Last week, the Las Vegas expo showed off its fun side with state-of-the-art technologies for enjoying beer, writes BRYAN TURNER
From craft beer-making machines to robots that pour beer, CES had more beer than usual in Las Vegas last week. And even free beer if you found the right stand. Stampede’s saloon-style booth offered beer to visitors who tried out its latest drones, virtual reality, and other gaming products. No beer tech, though.
Here are some of the beer technologies that stood out:
LG HomeBrew – Craft beer made at home
LG’s HomeBrew craft beer-making machine, debuted at CES 2019, brings the brewing process home thanks to single-use capsules, a self-cleaning feature, and an algorithm optimised for fermentation.
Like a Nespresso coffee machine, the beer maker uses capsules, which contain malt, yeast, hop oil and flavouring. At the press of a button, LG HomeBrew automates the whole procedure from fermentation and carbonation to ageing. A companion app lets users check HomeBrew’s status at any time during the process, from their handsets.
The beer machine not only offers a simple way to make craft
Designed with discerning beer lovers in mind, HomeBrew allows for in-home production of batches of more than 4 litres of beer in a variety of styles. The following five distinctive, flavoured beers are available now:
- Hoppy American IPA
- Golden American Pale Ale
- Full-bodied English Stout
- Zesty Belgian-style Witbier
- Dry Czech Pilsner
The only catch? It takes about two weeks to make, depending on the beer type.
“LG HomeBrew is the culmination of years of home appliance and water purification technologies that we’ve developed over the decades,” said Dan Song, president of LG Electronics Home Appliance & Air Solutions Company. “Homebrewing has grown at an explosive pace, but there are still many beer lovers who haven’t taken the jump because of the barriers to entry, like complexity, and these are the consumers we think will be attracted to LG HomeBrew.”
Click here to read about the party speaker that holds beer and robots that pour beer.
CES: Alienware gets Legend-ary
At CES in Las Vegas last week, Dell’s Alienware released a family of high-end, thin, light, and affordable machines for both amateur and professional gamers – and a new identity.
Alienware marked CES 2019 as a brand milestone with the debut of a new design identity, Alienware Legend. It aims to set a new bar of excellence for what gamers want most – performance and function. Alienware says it evaluated multiple concepts and chose one that was the biggest and boldest departure from its current look.
Alienware Legend, says the company, stays true to the brand’s core design tenets, taking cues from its deep roots in sci-fi culture and its early industrial designs, to distinguish the brand from the rest of the industry. The new Legend design is optimised with cutting-edge thermal cooling technology to achieve and sustain overclocking power, improved AlienFX lighting, and ultra-thin screen borders. It also unveiled a new “three-knuckle hinge” design that reduces the overall dimension while creating a stronger assembly, all combining to yield a better gaming experience.
“We’re excited to come to this year’s CES with some truly groundbreaking products, next-gen software and strategic partnerships that will bring more people to experience PC gaming and advance the industry,” said Frank Azor, vice president and general manager of Alienware. “The legend design answers the call for more and better from our gaming community, and the new G Series laptops will make PC gaming even more accessible to those looking for high-performance gaming at a cost they can appreciate.”
Click here to read about Alienware Legend in action with the Area-51m and m-series laptops