Big Data in Digital Marketing

BIG DATA IN DIGITAL MARKETING

Big data is transforming the Marketing industry and has proven to be an essential tool. 

Merging the big data with a marketing strategy can make a huge impact in many key areas like; understanding customer behaviour through the insights received from the big data for customer engagement. What do they want? Where they are and how and when they want to be contacted. It is a key factor in marketing efforts and helps in bringing positive change to the brand and it can increase revenue and improves existing products.

The second area is to understand what makes our customer come back again and again? Through big data, we discover how to focus on customer retention and loyalty towards our brand. 

The third area is determining the optimal marketing spend across channels by analysis and testing to optimize marketing performance. 

According to Geoffrey Moore, Big data brings valuable insights, however, also comes with challenges in processing, analyzing and curating a massive amount of data that is gathered. This information helps in improving business operations and helps in dealing with these challenges with innovative solutions.

For example, The idea of “Know Your Customer” (KYC) was formed many years ago to prevent bank deceivers. Through big data, this concept provided insights to the customer behaviour and gave a 360-degree view of the audience and this has also benefited all size of businesses today.

There is another great benefit that big data drives, which is Brand awareness, for example, when it comes to retail business, consumers have become smarter and selective about what they buy. According to Aberdeen Group’s data-driven Report (Info.talend.com, 2020) showed that brand awareness was annually increased by 2.7 times in “data-driven retailers as compared to others.”

Marketers are leveraging on real-time data in cloud computing environments through the help of big data and it’s the ability to analyze real-time data and the process to get effective and accurate actions are unmatched with any other technologies.

There are three types of data marketers are interested in which are received from different sources and stored in different sites:

Customer data: The information gathered through Social Media activities or surveys helps in understanding the audience’s behaviour which helps the marketing companies to target their audience considering the evident data like name, email address or purchase history.

Financial data: The information is an indicator for the companies to analyse how effective their sales and marketing strategies are in action. It gives a deep understanding of the market and performance and how to operate more effectively when it comes to costs and marketing strategies.

Operational data: When it comes driving engagement, operational data plays a vital role in marketing. The marketing strategies designed basis these data enable more effective delivery of customized plans to the customers/clients across multiple channels like; mobile, search or online advertising.

  

Big data is the fundamental outcome of the new marketing landscape in the digital world we live in.

I hope you guys got the detailed information on the topic!

References:

(Talend Real-Time Open Source Data Integration Software, 2020)

(Sas.com, 2020)      

(Info.talend.com, 2020)