Is Big Data in Your Marketing Plans?

30 Nov 2014
by John Foley
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There’s a ton of data behind marketing, which is why your company should include big data in its marketing plan.

Whether you need to analyze success rates or track multiple campaigns, big data can help your business improve the marketing process.

When it comes to marketing mastery, here are just a few ways big data can assist your company:

Big Data and Marketing

Marketing has changed a lot since the days of newspaper ads and TV spots.

Today’s marketing involves multiple channels including digital, mobile, and the various social media arenas. With all the marketing directions your company is likely taking, big data can give you the insight you’re looking for.

Big data and marketing prove to be a match made in analytical heaven.

With that said, there are three areas in particular where big data can help your marketing endeavors: finance, operations, and customer analytics.

Among the ways:

  • Finance – ROI is the name of the marketing game and big data can give your company real insight into exactly where your marketing efforts are paying off. Big data can track your sales and profits from one marketing campaign to the next.
  • Operations – Big data uses metrics based on the objectives of your campaigns to measure the effectiveness of your company’s marketing strategies. From budgets to resource management, big data puts the marketing operations ball in your court.
  • Customer Analytics – As the following article shows, with customer analytics, your company can “stay focused on the big data bottom line” by tracking buying trends, behavioral metrics, customer surveys, and social media campaigning. In other words, big data helps you better understand and better market to your customers.

Marketing Performance

Optimization is the key to successful marketing.

Without an optimized approach to your marketing endeavors, not only will you have trouble reaching your ideal audience, you’ll waste a large part of your marketing budget doing so.

Big Data will help your company track it’s spending habits across multiple channels and determine which campaigns provide the largest ROI.

In addition, big data can optimize your marketing endeavors through continuous data management and analysis.

Engaging Customers

As mentioned before, big data can help your business learn exactly who your customers are and market to them accordingly.

In fact, the analytics behind big data can also give you insight as to where your customers are located, what their spending habits are, and how they prefer to be contacted whether via email or social media.

Increased Customer Retention

Locating and marketing to new customers is one thing, but keeping the customers you already have coming back is something else entirely.

With big data analytics, you can find exactly what attracts your customers and use that marketing approach to keep them engaged and coming back for more.

Factors to Keep in Mind

Although big data might seem like an overnight success story for your company’s marketing process, the big data approach takes time to master.

Knowing which analytical data tools to use and which data sets to collect will influence the success rate of your marketing practices and give you the most pertinent insights.

By taking the time to find which big data strategies best help your company, you’ll have an easier time getting your data to work for you.

 

About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including data management and customer satisfaction.



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