On June 24th, Netflix premiered a documentary with the title The Great Hack. The documentary basically gives deep insight on how big data giants like Facebook and Google have weaponized our personal data.
The documentary starts with a guy asking his audience a question. “Who has seen an advertisement that has convince you that your microphone is listening to your conversations?”
The truth of the matter is, for every activity, interaction, transactions, conversations you have ever had online, you leave breadcrumbs of information about you. All these data is then collected by tech giants like google and sold to the highest bidder. As a matter of fact, your phone may know a lot about you than you actually know yourself! How? You may ask. Let me engage you in a simple exercise. Can you name 5 things you have searched on the internet for the last 24 hours? Now, how about same time last year? I guess you have a picture clear picture now. Ever heard of the phrase ” the internet never forgets?” Well this is exactly what they meant. Ever since the first day you went online, all that data combined together can create a very near accurate image of you, and with that information, Google, Facebook, Amazon can predict your behaviour.
So what does all these mean? If you are a business owner and you are not online, then you are missing out on a lot! I mean, let’s face it, it may seem scary that your information is out there being old to the highest bidder, but for business, that is exactly what you need. With this data you can create advertisements targeting a specific segment of potential customers. Your ads will only be visible to relevant people, therefore you will expect a high conversion rate, unlike previous forms of marketing which were more of a gamble. You do mass advertisement hoping to catch someone’s attention.