What makes good marketing? Talented and experienced marketers? Of course. Strategically planned and excellently executed campaigns? Undoubtedly. Modern online tricks of the trade like social media and SEO? Unquestionably. But what about Big Data?
Big what, you may ask? An increasingly popular – and necessary – data-collecting method for companies throughout the world, Big Data is functionality that’s capable of gathering, collating and analysing datasets larger than any other pre-existing programme is capable of dealing with and managing. And, don’t doubt it; because of that Big Data can improve your marketing activity with fantastic tools and terrific insights – here are just six ways.
1. Critical customer information
Big data is colossal when it comes to collating masses of information and thus identifying who your consumers are and what they do, thanks to capturing details such as their gender, age, location, income, purchasing habits, what websites they frequent and the social media they like. Plus, how they interact with a business’s website – and its physical store.
2. Personalised marketing – in real-time
In combination with machine-learning algorithms, Big Data can play a pivotal role in hitting up customers with notifications and alerts of products and promotions specific to their purchasing and online behaviours – especially when they’re in the vicinity of a business’s physical location.
3. Improved market research
Thanks to the survey tools that the online world is awash with, gathering customer feedback through quick questionnaires and focus groups is easy and very cheap to do. With the capabilities that Big Data marketing boasts, this qualitative and quantitative market research can be analysed and taken action on with far more speed and precision than ever previously possible.
4. Managing brand reputation
Big Data’s reach is such that it can also help a business monitor the mentions of itself and its brand across a broad variety of different online presences, identifying unfiltered testimonials and opinions to aid business owners in weeding out low-performing or incorrect content and addressing customer-related issues on social media and review websites.
5. Analysing competitors
Additionally, you can also use those just mentioned Big Data-enabled tools, via monitoring social media and other websites, to gather and analyse information about your rivals and their marketing efforts. Talk about finding a competitive edge!
6. Optimising performance
Finally, marketing traditionally tends to be looked on as something of art in the business world; something that’s a bit airy-fairy. It’s critical in engaging customers, but how exactly can you measure its impact on ROI? Big Data’s excellent data-gathering ability means that marketers – and business owners – can now test, measure, analyse and improve their marketing efforts more precisely and better than ever before.