The CMO Show with Shobhit Shukla, Co-Founder and Chief Revenue Officer, Near
In his latest podcast at The CMO Show by Filtered Media, Shobhit Shukla, Co-Founder and Chief Revenue Officer, Near talks about the value of Ambient Data and how brands, organizations and enterprises can utilize data insights, while understanding the importance of context, to provide personalized consumer experiences and make smarter data-driven decisions.
Here is a sneak peek of the podcast:
You’re shopping for sneakers online, but you bail on the sale. The next day, you’re walking past the sneaker shop when you get a text. It’s a personalised discount offer you can’t refuse for those exact shoes.
This is the future envisioned by Shobhit Shukla, who sees the integration of real-world location data as the next logical step for remarketing.
Shobhit is looking to track consumers before they even step onto your premises. The idea builds on the legacy of geomarketing trends like geofencing and beacon-based in-store activations from providers like Swirl and InMarket.
Piggybacking onto the GPS functionality of your customers’ smartphones enables you to gather two of digital marketing’s most valuable data points – where your customer came from and where they go to next.
The true value of these permissions, Shobhit predicts, is marrying the data in real time with your existing digital data about customers. You can then use artificial intelligence to deploy personalised messages to individuals as they’re strolling past your store, checking apps on their phone.
This use of data challenges our traditional understanding of its value. A huge database with more historical context is no longer the ultimate goal of all data gathering.
“If I know that there was certain groups, people or a segment of audiences that walked into a Coles right now [that] is extremely valuable to me,” Shobhit says.
But as time goes on and the user moves away from a purchasing sweet spot, the value of that data depreciates. According to Shobhit, this is the lens we should be using for all data.
“The volume of data is exploding, the costs of storing and processing data are dropping, which means that there is going to be an overload of data,” he says.
“You need to identify data that is useful and the one that probably is not contextually very relevant… That’s why we believe [data] is going to be perishable.”
Listen to the podcast here.