3 Steps to Not Fearing These Marketing Techniques; Embrace Them Instead
From increasing conversions to enhancing the customer experience, all types of companies use data mining and retargeting.
They’re very effective marketing techniques, but many consumers view them as creepy rather than creative.
Remember when Facebook was in the news for data mining? Cambridge Analytica created a quiz app to gain access to millions of Facebook user accounts. While both companies claim users technically gave consent by agreeing to the terms, it’s incidents like these that make people afraid of data collection.
As a marketer of your own business, you need to be careful not to let data mining and retargeting scare off your target audience… let alone be afraid to use it yourself.
First Things First… What is Data Mining?
Data mining is extracting and analyzing data from a larger set of raw data.
For example, retail stores look at items a customer browsed in order to suggest related products. Mobile providers use data such as customer service interactions to predict who is likely to leave the company (known as ‘churn’) then target them with incentives