Take Advantage of Big Data for Marketing
As marketing strategies develop alongside rapid digital advancement, the sheer volume and variety of data at the disposal of the average brand has increased dramatically.
Not only is the typical consumer producing a staggering amount of information through numerous channels and devices, but marketers also track countless new data points and metrics in order to better assess and target audiences.
“There has been huge uptick in marketing data volumes.”
It goes without saying that these concurrent factors have caused a huge uptick in the generation of marketing data, and an article from Inc. pointed to CSC research predicting a 4,300 percent increase in annual data creation by 2020. Now, marketers must learn how to properly collect, organize and utilize these big data resources in a way that puts them ahead of industry competitors. Here’s how they can accomplish the daunting but important mission that lies ahead.
Aggregate data of all types
Certain big data use cases are focused strictly on the analysis of structured information – the numbers, facts and figures that comprise the average backend database in a financial or operational context. Marketing is a different animal altogether, of course, involving a much higher concentration of unstructured data, including social media sentiments, live chat excerpts and even video or image files.
Therefore, it’s important that marketers don’t discriminate against any format of data when collecting information from their audiences, as they never know which bits of information will lead to a breakthrough in branding, segmentation or even product design. Creative use of unstructured info will surely set marketing leaders apart from the rest as big data takes off.
Focus on patterns and insights
As with standard database analysis, big data programs are designed to accelerate the process of finding and leveraging unique patterns that could not be detected otherwise. Now, marketers are conducting these operations on a bigger scale than ever before, scanning unimaginably large collections of information from a wide variety of channels and interactive checkpoints.
For example, a big data strategy will go beyond conventional types of information from the email and social marketing spheres to include factors such as searches, transactions, clicks and other types of browsing behavior. With these granular data points, leading marketers will create personalized campaigns with greater consistency and ease than ever before.
“[The] digital revolution has produced tons of data, and from this data-driven marketers aregaining better insights and more clarity into today’s consumers than ever before,” stated Business2Community contributor Larisa Bedgood.
Create a vision of the future
While big data has been around for years now, marketers are constantly finding new and innovative ways to leverage information and drive targeted outreach efforts. As Bedgood pointed out in her piece for Business2Community, brands are utilizing strategies such as Web mining, crowd sourcing and mobile data volumes, mixing and matching various components for unheard-of results.
Ultimately, outside-the-box thinking will be hugely rewarded in the marketing arena as big data takes center stage. Brands that find the right balance of innovation, automation and dedication will surely succeed in the years to come.