'Big Data' Marketing - What, How and Why?
You may have read recently that we are working in a ‘Big Data’ world and that our marketing strategies must now be tailored to accommodate this. Read on to find out more about ‘Big Data’ and what it could mean for your business marketing campaigns.
What is ‘Big Data’
The term ‘Big Data’ refers to large and complex data sets that are not easily managed using traditional methods and established software. Big Data can include anything from military surveillance to medical records. Marketers are concerned mainly with the digital content that is being generated that can be used to gain an insight into your customers and their behaviour. Applications like YouTube, Facebook, Instagram and LinkedIn discussion groups all fall into the Big Data category.
The information available about customers means that there are increasingly novel opportunities for marketers, if they understand these innovations. Here are some tips to help you stay ahead in the brave new Big Data world.
Make your digital marketing team data driven
The phenomenal amount of data now available can at first appear rather overwhelming but it’s important to get a clear understanding of what’s out there in order to make a positive impact on ROI. It’s vital to have the right analytics in place; use metrics-driven goals and A/B testing strategies, backing up any marketing decisions with data. Make sure that you set clear benchmarks for your campaigns and use data to drive content creation for your websites.
It works best if you delegate responsibility for specific metrics to individuals within your marketing team, rewarding the highest achievers and sharing your research right across your business by way of regular progress reports.
Be clear about what goals you want your Big Data to achieve for you
You must have a specific goal before you can understand what you want your data to achieve otherwise you run the risk of carrying out unending analysis for no reason. Use the data to effectively and accurately channel your marketing offers; align your strategies with specific objectives and goals and gain an insight into just how effective each marketing campaign has been.
Look forward, not back
Once you have a clear idea of what all that data means and you have your processes set up, you can really use what you know to good effect. Look at what your customers have done in the past and use this information to predict what they are likely to do in the future. Armed with this knowledge, you can formulate offer the right products and services to them at the right time.
Old style marketing fundamentals remain unchanged
The fundamentals of marketing don’t change; build your brand, encourage trial, create awareness, repeat purchase, advocacy and preference. Make sure your marketing team is fully conversant and expert in the old traditions but ready and willing to deliver them with a more modern twist.
The more technology advances, the more data you have at your fingertips. It’s just a question of how to make best use of that information to drive your marketing campaigns and grow your business.
About Alison Page
Alison is a small business owner, freelance writer, author and dressage judge. She has degrees in Equine Science and Business Studies. Read her full story at http://www.theladywriter.co.uk