I attended the Street Fight Summit West earlier this week in San Francisco and walked away feeling pretty good about the event. In full disclosure this was my 1st Street Fight event. I’ll go to a handful of these types of events annually and typically find they are full of company promos and they usually provide very few insights that aren’t already beat to death. The overall theme of this event was “The Future of Local Tech”. Here are some major highlights:
- As technology evolves and mobile devices replace desktops marketers need out figure out ways to leverage location specific and other data points to personalize and provide relevant content to consumers throughout the whole purchase cycle. These messages will change based on location, time of day, mobile device and where the consumer may be in the purchase process. Challenge is connecting very different pieces of data to develop more personalized recommendations for consumers. As you do this and make the ad experience better for consumers, you better meet marketer’s goals. Ted Zagat from Facebook said personalized ads deliver 65% better reach than standard online advertising. With all this, attribution remains a challenge.
- The technology isn’t there yet for robust datasets based on close proximity, however it is coming soon with LTE Direct and beacon technology.
- Patrick Gauthier from PayPal said no one company is putting all the data pieces together yet especially in the retail segment.
- Commerce Graph by Steven Jacobs- The future of commerce lies at the intersection of digital and physical marketplaces.
- 1/3 of Amazon’s business comes from recommendations while consumers are purchasing a product.
- Facebook had no mobile $ two years ago. Now it’s 59% of revenue. Plus Facebook + Instagram now = 22% of total mobile ad spend.
- There’s a big opportunity around “personal CRM”- that is if Macys knew as much as Amazon did imagine what the shopping experience could be like.
For more detailed information on the sessions click here.