AMA-TV: Big Data, Rejection, Customer Forecasting, and Social Media Security

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    • 00:00

      [AMA TV THE MARKETING CHANNEL]

    • 00:04

      RANDELL MAURICIO: Hi, I'm Randell Mauricio.

    • 00:06

      EVA KOVACS: And I'm Eva Kovacs.You're watching a AMA TV The Marketing Channel.

    • 00:09

      RANDELL MAURICIO: Where marketersconnect with the people and resources they need to succeed.On today's show--

    • 00:14

      EVA KOVACS: From the crowd to the cloud-- five waysthat big data will make us smarter marketers.

    • 00:19

      RANDELL MAURICIO: Handling rejectionduring job interviews.

    • 00:22

      EVA KOVACS: And a best practices guide to better social mediasecurity.

    • 00:27

      RANDELL MAURICIO: As far back as 2006, loyalty marketing expertClive Humby declared data the new oil,a resource with the same transformativewealth creating power has been associatedwith the fossil fuel.And that's an analogy that's onlygrown more appropriate in recent years,although today, we know that data differs from oil in oneimportant way: the world's supply of information

    • 00:47

      RANDELL MAURICIO [continued]: is anything but scarce.Now big data is certainly plentiful and may be valuable,but it's not especially useful in its crude formaccording to Greg Verdino, a consultant, coach, authorand speaker who explores leadership, collaboration,innovation, and strategy within the context of digital businesstransformation.Just like oil, big data is not valuable for what it is

    • 01:09

      RANDELL MAURICIO [continued]: but for what it makes possible.Verdino shares five key ways that big datacan be harnessed to create value as it makes smarterdigital marketers.Big data tears down media silos.Big data lets you get closer to your customer.Big data lets marketers predict the future.Big data makes more powerful partnerships.

    • 01:29

      RANDELL MAURICIO [continued]: And big data is the guide that lets your gut decide.Read the complete article in the summer edition of MarketingInsights magazine at bit.ly/SummerMI.

    • 01:42

      EVA KOVACS: Sometimes we come across job seekers, whovia a tremendous amount of interviewing rejection,give up on their job search.However, there are more effective waysof going about handling rejectionduring your job search.Ken Sundheim of KES Placement shares these tips.Try to figure out the causes for this rejection.Until you recognize where the problems are

    • 02:03

      EVA KOVACS [continued]: and why you're getting rejected, improvementis going to be near impossible.Make sure that you remain resilient.Just like anything in life, you'regoing to encounter ups and downs.However, it's how we handle those downs whichdifferentiates us from those who are not as successful.Keep a positive attitude.

    • 02:23

      EVA KOVACS [continued]: Keeping a positive attitude means envisioning you gettingthe job that you want, as until we picture success,it's harder to know what we're after.You must believe that good things will happen.Maintain strong self confidence.Getting turned down for jobs doesn'tmean that you're a loser or possess any lessworth than other individuals.Make sure to separate your feeling of yourself

    • 02:45

      EVA KOVACS [continued]: and the ability to interview well.For more expert tips visit ama.org/careers.

    • 02:51

      RANDELL MAURICIO: Do you constantlysolicit the same customers, such as for prescription refills,charitable donations, or concert series?If so, you'd probably like to know which of your customersare most likely to return.Take luxury cruises, for example.This actual data set shows how manypast customers have cruised over a four year period.

    • 03:12

      RANDELL MAURICIO [continued]: A one means a customer cruised during the year.A zero means they did not.Customers in the top row cruised every year.Those in the bottom row did not cruise at all.And those in the middle followed other patterns.Firms like these have a two part relationshipwith their customers.First, at the beginning of a periodthere's a probability that a customer goes away,

    • 03:33

      RANDELL MAURICIO [continued]: becoming permanently inactive.Second, if they remain active there'sa unique probability a customer will take a cruise.Peter Fader of the Wharton School and BruceHardie of the London School of Businessfigured out a way to model this relationship.Their model fits the data quite welland generates reasonable forecasts.If you know when a customer made her last transaction

    • 03:55

      RANDELL MAURICIO [continued]: and how many she had in the past,the model can tell you the probability she is stillactive, the expected number of cruises she will make overher remaining life and the present valueof her future expenditures.For more information on this and other techniquesgo to statwizards.com.

    • 04:13

      EVA KOVACS: This year there has notbeen a month without news of a major brand's social mediacrisis.Accounts have been hacked, alteredand used to spread political and anti-corporate messages.So what's the solution?Here's a short list of best practices.Centralize control.Start with an audit of all the social mediaaccounts within your enterprise.

    • 04:34

      EVA KOVACS [continued]: Take note of who manages them and who has access to them.Delete any extraneous accounts and remove permissionfrom anyone who shouldn't have it.Password control.Shared social media accounts inevitablymean shared passwords.The first step in password protectionis actually taking the time to builda strong and complex password.

    • 04:55

      EVA KOVACS [continued]: Consider implementing a password managementtools, such as last pass or key pass, whichcan generate complex passwords on your behalf.Single sign-on technology.SSO allows employees to sign into company social mediaaccounts with the same username and passwordfrom their corporate email accounts.In doing so, the keys or passwords to those accounts

    • 05:17

      EVA KOVACS [continued]: remain in the hands of one trusted administrator.Learn more from Hootsuite Enterprise,the leading provider of social media security for businessesby downloading their five step guide to better social mediasecurity at socialbusiness.h ootsuite.com/security.

    • 05:34

      RANDELL MAURICIO: Looking to gain a competitive advantagethrough the effective use of marketing research?Afraid you're behind the curve on big data?Well, here's your chance to learn from leading industryand academic experts about how leading firms are usingadvanced marketing research techniques to better understandcustomers, increase sales, use media effectively, makenew product development decisions and price

    • 05:56

      RANDELL MAURICIO [continued]: products for increased profit in today's challengingenvironment.Join your fellow marketers at the week long Advanced Schoolof Marketing Research in Atlanta.Register by October 7 and save at ama.org/advsmr.

    • 06:10

      EVA KOVACS: Insight even more dynamicthinking around the office with a group membership to the AMA.

    • 06:14

      RANDELL MAURICIO: Introduce colleaguesto the new ideas, expert insightsand progressive strategies on today'strending topics from the industry's most trustedmarketing resource.Organize your colleagues and takeadvantage of special group rates when you join the AMA today.So register your group and receive a $100 Amazongift card just for being the organizer.Go to groupmembership.ama.org and use

    • 06:36

      RANDELL MAURICIO [continued]: the promo code GROUP100.We'll see you next time.[AMA TV THE MARKETING CHANNEL]

AMA-TV: Big Data, Rejection, Customer Forecasting, and Social Media Security

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Abstract

This segment of AMA TV discusses data analysis and online security. First, see how organizations can strike it rich with big data, then find out how organizations can run risks by sharing passwords.

AMA-TV: Big Data, Rejection, Customer Forecasting, and Social Media Security

This segment of AMA TV discusses data analysis and online security. First, see how organizations can strike it rich with big data, then find out how organizations can run risks by sharing passwords.

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