Conventionally big data was perceived to be nothing but a tech tool. However, increasingly businesses are realizing its value as an effective marketing tool which can be leveraged for the purpose of gathering actionable insights and designing effective marketing strategies. To be able to truly improve the scope of marketing via big data, it is important for marketers to understand the following roles of big data
Tracking Trends and Pursuing Predictive Analysis
Tools such as Google Trends truly helps businesses scale up their big data approach. By cutting out most of the current trend topics, this tool is able to help you focus on the ones with the largest reach. From a digital marketing perspective, Google Trends helps marketers quantify the frequency of every searched term and also help compare it with the total number of searches. Such tools are great for marketers who intend to achieve expansion of their reach.
With such tools, you can also identify newer trends and markets. With Google Trends it is possible to track demand and identify unconventional targets that allow businesses to grow and meet the evolving needs of the marketplace.
Using big data for predictive analysis is another benefit that marketers need to leverage. Data mining services providers are able to extract information from existing data that helps determine various behavioral patterns and eventually forecast future trends. A good data mining approach can often identify the exact process that helps create successful leads. Relying on a big data company to acquire predictive data analysts can significantly change your selling cycles.
Big data has the potential to significantly change the way marketers create and leverage buyer personas. Buyer personas are important when directing marketing efforts to a certain type of customer. Conventionally, marketers would rely on websites and feedback from sales departments to create personas. This means that big pools of big data were effectively being ignored. Using big data helps marketers channel their social media efforts, blogs and other marketing campaigns specifically to a target demographic in a much more effective manner. With the help of big data, one is able to take on a multi-market approach and break free from the generic approach.
Personalization and Customization
Marketers cannot overestimate the effectiveness of customization and/or personalization of a campaign. Every customer that feels that your brand is speaking to them directly is bound to become loyal to your offerings. It is thus important that your business is able to send out an appropriate message at the right time for the sake of acquiring more loyal customers. Big data is a great way to track who is interacting with your brand and when. With the help of this information, marketers are able to send out customized responses that are engaging. By amalgamating your CRM practices with big data, marketers are able to keep tabs on buyer trends among potential and existing customers.
Marketing analytics used in sync with big data helps businesses comprehensively evaluate their overall marketing performance. It also helps gain critical insights into the purchasing habits of the client and assists brands in making evidence-based decisions. Some of the common big data strategies marketers must consider include –
- Sentiment analysis
- Consumer behavior tracking within online and physical stores
- Opening channels of communication with customers
- Predictive analysis
- Response to value added services based on purchasing habits and customer profiles
- Real-time micro-segmentation of customers targeted with personalized ads
By working closely with IT departments and their leaders, marketers will be able to meet their marketing goals by leveraging big data.