big data marketing - what you need to know
TRANSCRIPT
BIG DATA MARKETING:WHAT YOU NEED TO KNOW
big data marketing: what you need to know
Collecting and analyzing Big Data is a vital modernmarketing approach to reach your customers and
accurately meet their needs.
When properly analysed and implemented intomarketing strategy, big data helps companies in
three key ways...
big data marketing: what you need to know
1) INCREASING CUSTOMER ENGAGEMENT
Businesses using big data can gain insight into whotheir customers are, where they’re located, how and
when they can be contacted, and more.
big data marketing: what you need to know
2) INCREASING CUSTOMER RETENTION AND LOYALTY
Through the analysis of big data businesses candiscover how to inspire customer loyality and generate
return business in the most cost-efficient manner.
big data marketing: what you need to know
3) IMPROVING MARKETING PERFORMANCE
Big data also allows businesses to determine their optimummarketing spend across numerous marketing channels,
through the analysis of what works well, and what isn’t worth their time.
big data marketing: what you need to know
DATA COLLECTION AND ANALYSIS
Modern marketers can use big data to collect information on their customer’s purchasing history,personal likes and dislikes, the time they spend on different websites, their personal habits, and an enormous range of other data collection points.
Once this data is passed through customer relationshipmanagement systems. (CRM)
With careful selection of the right data for the company, the CRM analysiscan bring the business the three improvements listed above, and providethem with a greater return on investment.
big data marketing: what you need to know
REAL-TIME DATA COLLECTIONOne of the biggest advantages of big data marketing over more traditional marketing methods is that it can occur in real time.
EXAMPLEA potential customer spends some time looking at a particular item
on a business’ website, but leaves without making a purchase.
It is now possible to target the market so that, later the same day, that customer will see an advertisement on another website featuring the business’ product.
This is known as advertising retargeting, and it’s just one way in which big data is revolutionising the marketing industry.
big data marketing: what you need to know
CONCLUSIONBecause big data can move in real time,
it also enables companies to actually predict a customer’s behaviour.
New technologies available today allow businesses to analyse their customer data in order topredict their spending habits going forward.
Though creative marketers will always need to combine CRM analysis withtheir own keen market instincts, the data, as they say, speaks volumes.
It may sound like a clichéd buzzword, but big data marketing is here to stay.
