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Big Data Marketing - What You Need To Know

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Collecting and analyzing big data is a vital modern marketing approach to reach your customers and accurately meet their needs...

Published in: Data & Analytics, Marketing
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Big Data Marketing - What You Need To Know

  1. 1. BIG DATA MARKETING: WHAT YOU NEED TO KNOW
  2. 2. big data marketing: what you need to know Collecting and analyzing Big Data is a vital modern marketing approach to reach your customers and accurately meet their needs. When properly analysed and implemented into marketing strategy, big data helps companies in three key ways...
  3. 3. big data marketing: what you need to know 1) INCREASING CUSTOMER ENGAGEMENT Businesses using big data can gain insight into who their customers are, where they’re located, how and when they can be contacted, and more.
  4. 4. big data marketing: what you need to know 2) INCREASING CUSTOMER RETENTION AND LOYALTY Through the analysis of big data businesses can discover how to inspire customer loyality and generate return business in the most cost-efficient manner.
  5. 5. big data marketing: what you need to know 3) IMPROVING MARKETING PERFORMANCE Big data also allows businesses to determine their optimum marketing spend across numerous marketing channels, through the analysis of what works well, and what isn’t worth their time.
  6. 6. 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 relationship management systems. (CRM) With careful selection of the right data for the company, the CRM analysis can bring the business the three improvements listed above, and provide them with a greater return on investment.
  7. 7. big data marketing: what you need to know REAL-TIME DATA COLLECTION One of the biggest advantages of big data marketing over more traditional marketing methods is that it can occur in real time. EXAMPLE A 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.
  8. 8. big data marketing: what you need to know CONCLUSION Because 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 to predict their spending habits going forward. Though creative marketers will always need to combine CRM analysis with their 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.
  9. 9. big data marketing: what you need to know DON'T FORGET TO FOLLOW US www.mbaco.com info@mbaco.com

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