Big Data and Marketing

In simple terms, big data refers to complex and voluminous data sets. Big data is revolutionizing marketing and sales while also  delivering results.

It  helps businesses by offering valuable insight into their customers and potential customers. It also helps businesses learn how to streamline their important workflow processes.

When it comes to marketing,  Big data is recognized as a staple resource for organizations.

Marketing means using big data analytics to maximize its scope. Given below are the ways in which big data can be implemented in marketing strategies to get the maximum output from them.

Build better Customer Relationships

A wide array of data can be leveraged to foster stronger client relationships. It is important to make customers feel cared for and provide them with real value.

A way to achieve this is to personalize the experience of customers. For instance, Australian airlines Qantas had successfully managed to improve customer experience by tracking flyers’ seat and food preferences, and by taking notes about interactions that occur in-flight.

Taking notes of such characteristics and acting on them made the customers of the airlines feel cared for.

Understand Target Market

A personalized marketing strategy with  messaging that is tailored to customers’ specific needs can be gleaned through data analysis.

A personalized approach yields higher engagement with target customers.

Big data allows a business to gather real-time information about target customers’ behavior , preferences and product reactions to better meet their needs. Such information allows a business to identify patterns and improve what it offers to customers.

For instance, Amazon and Netflix offer suggestions based on their users’ shopping/ viewing history. Big data can also show what is not working for customers. If data reveal that customers are not using a certain service or product, that information can be used to adjust targeting strategies.

Brand Positioning

If companies are not sure about which brand identity elements are most important, big data could prove to be extremely helpful. It could create a more subtle brand identity by helping businesses determine what matters most to their customers.

If an analysis proves that a particular facet of a brand identity doesn’t further the company’s overall vision, perhaps it is wise to eliminate it.

For instance in 2018, Coca Cola announced its purpose to make a difference by working towards a sustainable future for the planet. They put out  a series of recycling-based plans to support its World Without Waste initiative.

Brand managers of the company can keep an eye on the metrics with help from big data platforms. If the news of recycling caused any positive changes, it would become evident.

Designing Campaigns

With the help of big data, a business can become aware of what is trending, and they can adapt the trends for their marketing strategy.

By analyzing customer feedback through social media posts and reviews, a business can identify new opportunities.

For instance, when McDonald’s wanted to transition from mass marketing to customization, they used big data to come up with digital menus that changed based on a variety of factors including the time of the day, weather, and historical sales data.

This helped them to offer their clients a cold beverage on a hot day or maybe a coffee with their breakfast menu. This helped them ensure that they maintained loyal customers.

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