How Brands Can Use Big Data To Their Advantage
If you had been browsing Gilt.com on March 12th – in addition to having the opportunity to shop flash sales for shoes, home accessories, and handbags – you could have bought a brand new car, half price.
Well, if you had been ONE very lucky, quick-fingered visitor, you could have.
Infiniti partnered with Gilt to promote the launch of the new Infiniti JX, offering one new car for half off the sticker price (a steal at $27,425, down from the full price of $54,850). The promotion was part of Infiniti’s NCAA Men’s Basketball Tournament sponsorship, and the full retail price of the Infiniti JX was donated to Coaches vs. Cancer.
What did Infiniti gain from the promotion?
Infiniti got potential buyers excited about the new Infiniti JX…and according to Mashable, people were really excited about the car – it sold in 2.5 seconds.
And in under three hours, 4,600 people had already added themselves to the wait-list for the Infiniti JX.
Infiniti strengthened its sponsorship tie with March Madness – in addition to offering the Infiniti JX for sale, the brand sponsored March Madness packages on Gilt…while simultaneously aligning the brand with a positive cause, donating the value of the Infiniti JX to Coaches vs. Cancer.
Infiniti also got big data.
One of the biggest challenges for advertisers is not knowing exactly who their ads reach – if the ads were seen by the target audience most likely to buy their product/service, or if the ads were seen by people who would never buy their product/service. Research can help advertisers target more efficiently, but it’s never – and will never – be a perfect science or solution.
But with promotions like the Infiniti/Gilt partnership, the target audience self-identifies themselves to the advertiser.
For Infiniti, a wait-list nearly 5,000 strong self-identified as:
a) people in the market to buy a new car
b) people who have at least $27K to spend on a new car
That data alone is advertising gold.
But Infiniti knows even more – they also know the wait-list hopefuls’ email addresses (assuming that was part of the promotion, which for Infiniti’s sake, hopefully it was), where they live, and their Internet behavior. Simple analytics from Gilt.com can tell Infiniti where visitors came from – the markets they live in and the sites they entered from/went to after visiting Gilt.
Big data; big potential.
What if Infiniti took this data to continue courting the 4,600 wait-listed Infiniti JX hopefuls? And continued to strengthen their sponsorship ties to March Madness?
Just because these nearly 5,000 people couldn’t buy the car on Gilt doesn’t mean they are now “out of the market” for a new vehicle.
Or that Infiniti’s March Madness sponsorship is over.
Quite the opposite:
These people are still prime targets for Infiniti, and March Madness is still ramping up.
Infiniti could email everyone from the wait-list and invite them to test drive a new Infiniti JX – everyone who test drives a car before the March Madness championship game would be entered to purchase another Infiniti JX at half price, with the proceeds from the sale going to Coaches vs. Cancer.
Or Infiniti could run a donation campaign for Coaches vs. Cancer – every dollar someone donated would give them one entry into a drawing for an Infiniti JX at half price.
Or Infiniti could use the data to help direct an online media buy – what other sites do these 4,600 people most frequently visit? Where will they be most likely to notice Infiniti JX ads?
Or Infiniti could use the market data to plan targeted, regional launch events for the Infiniti JX.
The potential with big data is huge for advertisers – and while a number like 4,600 people may not sound like an impressive number, for advertisers like Infiniti, it’s a huge opportunity to go after people who you know are interested in buying your product/ service.
An infinite advantage over just targeting people who you think may be interested in your product.
To Infiniti and beyond with big data!
*Originally appeared in Advertising Week.
Image source: Reddit.