Everybody's Doing It -- Data Analytics And Personalization
May 17, 2016
"It's about whether you want to be a premium brand or not. If you want to play in the premium space, then you have to be delivering personalization."
Coming from a Silicon Valley executive, this quote wouldn't be newsworthy. Instead it's a Gatorade executive highlighting the essential role of data analytics for all brands.
As Fast Company exclusively reported, Gatorade's high-tech focus can be traced back to 2014 and the decision "to build an internal innovation unit to look beyond bottle shapes and new flavors and toward a higher mission. After all, something had to be done. Gatorade sales in the first half of 2009 had fallen 18% year over year; new competitors such as VitaminWater, Red Bull, and Monster had gained influence and market share."
The new smart cap bottle communicates with a Band-Aid like smart patch that is monitoring the sweat content of each athlete so that the right nutrients are being replaced at just the right time to maintain optimal performance.
While it's currently being tested at professional levels including the Boston Celtics and Kansas City Chiefs, a consumer version will be available to weekend warriors later this year.
Super-serving these super-fans isn't just about treading water amidst increased competition. For Gatorade, "The potential for growth is gigantic."
Another platform with an interesting perspective on the power of data insights is ReverbNation, the online platform that helps four million musicians manage their careers with 200,000 songs uploaded per month.
The site, which regularly launches innovative tools, has a new algorithm that identifies specific artists generating unique levels of interest and buzz. As a result, these musicians can be cultivated and a pathway can be identified whether it's licensing their music on TV shows or the opportunity to appear at a summer music festival.
As Simon Perry, ReverbNation's chief creative officer and head of A&R says in a recent interview, "We use a whole array of different little signals. The patterns that those signals make tell us something."
However, even in the world of data analytics, there are no magic bullets.
As Perry continues, "You can't get a load of data and say, 'This band with this data profile is going to be the next Coldplay.'?But you can say, 'For this band with this data profile, history teaches us that we should do [certain] things.'"
In a similar way, when you know your heavy P1s by name and study the composition of your ratings, it empowers you to do more of some activities and less of others.
By leveraging data insights, our Audience Management platform empowers clients to personalize the experience of Super-Fans and P1s of the competition. Especially during the 90% of their lives spent not listening to the radio. By Winning the Moment off-air, stations win more listening occasions from those who matter most to their ratings and revenue.
In addition, by building innovative partnerships with companies including PromoSuite and Research Director, we find new ways to help stations incorporate data insights and maximize their ROI.