Most marketers agree on the value of data at this stage of branded content’s evolution. If you don’t understand the customers on who they are, what they care about, and where to find them, it is difficult to speak to the customers through content.
It is found that analytics are crucial to a company’s success based on a recent Forbes Insights survey found and believed by 97% of executives. To extract strategic insights, companies struggle as they can apply toward shaping business decisions even though they can collect an abundance of data. To leverage information from the systems which collect data, many content marketers find it challenging for the benefit of both their brand and desired or existing customers.
Smart Partnerships pays to work with a team dedicated to understanding your readers, optimizing your campaign for better performance, and meeting your goals. 70% of consumers prefer content as per research to learn about brands’ products and services. It’s important to make the message meaningful, informative, and engaging to last customer relationships beyond a one-off transaction.
Transformation by data analytics at Sony Music Entertainment
With digital singles decimating album sales by 2014 which is coupled with the rise of illegal file sharing. By then, revenues hit an all-time low and the future of labels looked bleak. But streaming was beginning to pick up steam around that same time. The industry was plotting a new future for itself and it was a future built on data.
The shift toward cloud-based libraries presented new challenges on one hand. Consumers would no longer hold physical albums, or even scroll through files on their mp3 players by marking the end of music ownership. On the other hand, streaming gave labels an unprecedented opportunity. To learn about their listeners about who and where they were, what songs they skipped, what devices they listened on, and more.
According to Dennis Kooker, president of global digital business and U.S. sales for Sony Music Entertainment, the importance of data was understood from the beginning as the business model shifted from ownership to consumption via streaming. This move made the business to evolve from one-time purchases to a massive amount of recurring microtransaction.
New tools for observing how fans interact with its artists’ music was enabled by digital streaming to labels. Artist A experienced a seasonal spike every spring, Artist B received more plays in the morning and Artist C was surprisingly popular among fans of Artist D was all visible to the labels.