Big data has many applications and can deliver numerous benefits. However, the sheer volume of it can cause anxiety. After all, there’s so much information… Where can you possibly start? Let’s start with marketing.
As you likely know, big data is a term used to describe the collection and analysis of information. In marketing, collecting information about your customers, their demographics, their preferences, and their buying habits allows you to gain deeper insights and potentially predict future behaviors. Big data in marketing is commonly used to improve the customer experience and business performance.
In order to be successful using big data in marketing, you must:
- Use the Right Tools to Extract and Analyze Marketing Data – With so much information at your disposal, you absolutely need the right tools to gather, analyze, and later, store data. For example, Dolphin’s SAP Big Data with HANA and Data Archiving solutions are well-suited for enhancing marketing strategies with big data.
- Determine Which Data is Most Relevant – Equally important, is what data you collect and measure. Is the data relevant? How will its insights help you to improve the customer experience or business performance?
Focusing on the wrong information is a recipe for wasted time and poor results. For example, many marketers focus on the size of their email lists or number of Twitter followers. They may have amassed huge lists that never convert. A more successful marketer may have much smaller lists of targeted customers who not only buy, they act as champions of the brand. Which list would you rather have a huge list of non-buyers or a small list of buyers and brand champions?
By using big data, you can learn more about your prospects, buyers, and brand ambassadors, enhance their customer experience, send personalized offers, and entice them to introduce your brand to their friends. The ability to more fully understand your target audience allows you to tailor your brand messaging to be more appealing while also attracting more prospects with similar characteristics.
It all begins by choosing the right big data tools and focusing on the right information.
1. Yahoo! Small Business Advisor, “Big Data: How This Can Help You Get Big Sales,” – https://smallbusiness.yahoo.com/advisor/big-data-help-big-sales-160413541.html
2. Dolphin Corporation, “Information Lifecycle Management,” – http://www.dolphin-corp.com/information-lifecycle-management/sap-hana/