Big Data + Analytics = Precision Marketing
Marketing has undergone some drastic changes in recent years. Marketing strategies have largely depended on some form of data and analysis since the 1950’s. The amount of data has changed that is available to companies. Marketing campaigns us data to maximize success. Over time data collected will reflect consumer behavior. Now, big data and analytics allows marketers to make decisions and campaigns based on up to the minute data; this allows you to make predictive decisions and not just reactionary ones. While big data is no crystal ball or genie in a bottle, it can help you to time, target, and tailor your marketing campaigns to optimize customer engagement and loyalty.
Big Data Basics
The ABC’s of big data are actually the four V’s. These are volume, variety, velocity and veracity. Volume refers to the massive amount of data that a company collects in order to understand the habits of its customers. Variety is the different types of data that are collected. Data comes in two forms: structured and unstructured. Structured data is the data that is already organized. Unstructured data refers to data gathered from online sources like social media, videos, product reviews and emails.
According to Investopedia.com, this data accounts for around 80% of all data that companies collect. Analytics will convert the data into useful information. Velocity is the speed data is collected and converted into info. The excess useless data that is discarded is called Veracity. It greatly reduces the amount of data that you have to look through to find the most pertinent information.
One of the more intriguing benefits of harvesting big data and breaking it down with complex analytics is that you can perfectly time the release of content. The main objective of any marketing campaign is to increase brand recognition. You can’t optimize your brand’s recognition if no one ever sees your new content.
Big data allows you to release your content during times of peak online activity. Potential Customers have a higher chance of seeing you. Release your content during times of high engagement on social media to make your brand or products the topic of conversation. There are even apps that manage your social media accounts and schedule tweets and posts in accordance with the times that posters of influence tend to be active.
One change in the way that companies market their products is the specificity of the campaigns to customers. Now, companies are using big data and analytics to tailor fit their marketing campaigns to the desires of their customers. By posting content to specific customers based on their own interests and preferences, they can eliminate wasteful irrelevant marketing campaigns.
Companies are using several techniques to gather information about their customers preferences, and chatbots are among the most prevalent. These bots show up as little chat boxes and engage customers in dialogue when they visit your website. They ask specific question about the customers preferences and then make product suggestions based on the answers of customers. Big data platforms like Azure HDInsight are capable of working with many tools to make big data collection, analyses and implementation a much more user friendly experience than one would expect with big data apps.
Big data has revolutionized how companies market their brand and products to customers. People are getting more of their entertainment and doing more of their shopping online than ever before. This gives businesses what it is consumers want, when to engage them, and how to best suit the wants. Big data may not be able to predict the future, but it sure can help you prepare for it.http://blogs.top4webhosting.com/2018/03/19/big-data-analytics-precision-marketing/http://blogs.top4webhosting.com/wp-content/uploads/2018/03/download.jpghttp://blogs.top4webhosting.com/wp-content/uploads/2018/03/download-150x150.jpgOtherTechnologybig data,Marketing