Big Data marketing is a new tool in which two elements come together: on the one hand, the management of current information flows, which are high and reach new records every day; on the other, traditional marketing resources, although in this case adapted to the new digital context and the use of new technologies.
Come on, the matter is simple: if consumers surf the net leaving a trace of their preferences and, above all, providing valuable personal information for companies, why not create a strategy based on it?
What Is Big Data Marketing?
The term “big data marketing” not only refers to the data itself; it also addresses the challenges, capabilities, and competencies associated with storing and analyzing such large data sets to support a more precise level of decision making.
What Is Big Data Marketing For?
Customers create new data every step of the way on the network. This can be structured data, such as that obtained when they click on websites, or unstructured data, such as that generated by posting comments on Facebook. Using big data technologies and analytical methods, marketers can extract, combine, and analyze both types of data in near real-time.
This can help them uncover hidden patterns and understand how different customer groups interact and how this leads to purchasing decisions.
Equipped with this knowledge, companies can develop marketing campaigns aimed at individual customer preferences, putting themselves ahead of the competition thanks to this customization.
Have you ever wanted to understand the true value of a customer? Or the exact costs of customer acquisition and how to reduce them? Big data touches every part of the marketing funnel helping to optimize sales and solve key business problems, turning data into insights to influence actions and drive better business results.
Industry leaders will need to start their journey by asking themselves some important questions to maximize the return on their investment in big data marketing:
- What should our big data analytics roadmap look like to achieve our marketing goals?
- What business outcomes would we like to influence by leveraging the wealth of data around customers?
- What capabilities and services should we develop by taking advantage of Big Data that allows a strong competitive advantage?
- What technology options will make the big data analytics journey possible?
- Do we have the right skills and resources in the company to take full advantage of big data marketing?
How Does Big Data Marketing Affect Advertising, Information And Customers?
Advertising and offers for products and services have always existed. However, perhaps never before has information on this type of content circulated in such quantity and with such frequency.
The challenge for today’s companies is not only about selling and offering a good service to their customers. For this to be the case, it is necessary to carry out a serious job of collecting, classifying, interpreting, and applying information related to consumers, the market, competition, prices, and even the economic framework.
Therefore, Big Data marketing allows you to make a much more precise approach to the markets. Audience segments are now people with their own needs and mass communication is now individual.
In conclusion, it is a tool that allows us to bring our focus even closer to those who are or are close to becoming our clients, something for which good information management is essential. You are ready?
What Are The Advantages Of Big Data Marketing?
The term “big data” refers to huge amounts of data that companies collect, and that comes from either their business efforts or their interaction with customers. This information, obtained by different means, is the basis of a successful marketing campaign.
The reasons for joining Big Data marketing are many, although the following stand out:
- Allow good planning: This is an essential basis for fighting market volatility and predicting trends and changes in customer behavior in time to develop a better and more efficient plan. In addition, using big data as a starting point for your own marketing strategy will allow a better view of existing options that will determine what works and what doesn’t. In this way, the probability of error decreases.
- Increased customization: Versatility is one of the qualities of an effective marketing campaign. Each step that is taken towards a new client or a new segment has to ensure this characteristic, in order to deliver in all cases a product or service that precisely matches the needs, tastes, and expectations of a specific client.
- Flexible pricing: This adaptability makes it possible to reach a wider audience because, although everyone agrees that higher quality demands a higher price, many people see the price of certain products as a major drawback. To overcome this problem, Big Data Marketing provides enough data to understand the user and be able to get the price calibration right.
- SEO optimization: Artificial intelligence and machine learning are combined with the organization’s marketing automation capabilities to ensure better results in customer retention. Big Data marketing allows you to evaluate the habits of the most loyal customers and discover what the company did to attract them. By repeating the same process, they will strike a balance between customer retention and attracting new ones.
- Tight budgets: Most marketers have difficulty allocating their budgets correctly. Using big data right in your business plan will help you calculate a person’s ROI more accurately than ever. By doing so, irrelevant and excessive expenses are reduced, freeing up more time and resources for the most important aspects of marketing campaigns.