Instant Audiences.

It seems like not so long ago that marketing firms dreamed of putting out a new IP and having an almost instant audience to flock to it. And as many of us know now, this has more or less become a reality. While not to the point of being an exact science like some would like it, websites like Amazon and Netflix have been using subtle suggestions to build profiles of each of their customers to do such a thing. These come in the form of things like “People who bought this also bought” and “If you liked this show, then you may like this.” We have all seen these on our computer, phone and TV screens more times than we can count and it is there for a reason. The reason is that they are building the aforementioned “profile” of all of their customers, this gives them a set of data, which allows them to gauge the probability of people who buy one product, buying others that are similar. And this is where the important part is, since companies like Amazon and Netflix have the chances of people going to another product that is similar in nature to a product they already consumed, it can be determined the chances of a new product succeeding. No longer do marketing firms have to do large amounts of expensive research and no longer to companies like Amazon and Netflix need to hire marketing firms, they just need to collect the data on their customers so they can see the built in customer bases for certain products or genres. And this is going to turn advertisement on its head, since no longer will companies need to spend so much on advertisement space/time on shows, movies or webpages for a wide variety of people. They can targets the ones who already in the customer base to let them know that there is something that is similar to something they already like, and they can target the people who liked something similar to the product that they are now selling.

 

 

https://www.forbes.com/sites/danielnewman/2017/04/25/top-six-digital-transformation-trends-in-media-and-entertainment/#1654eee26729

https://www.forbes.com/sites/danielnewman/2017/04/25/top-six-digital-transformation-trends-in-media-and-entertainment/#1654eee26729

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