Big data is everywhere and it is growing fast. By 2020, 1.7mb of data will be created every second for every person on this planet. Businesses use big data to reveal trends that help improve business strategy including marketing strategy.
The question isn’t how much big data you’re generating but what you do with the data? It all comes down to analyzing and using big data in your marketing strategy to take your business to a whole new level. A Forrester study revealed that 44% of B2C marketers are using big data to get insights that help them create relationship-driven strategies.
The key is using big data in your marketing strategy in a way that you get insights that your competitors don’t. How to do it?
Here are 5 tactics to do it the right way.
1. Create an omnichannel experience for your customers
Omnichannel experience is defined as multi-channel sales and marketing approach that provides your customers with a highly integrated experience. Big data makes it easier than ever to create an omnichannel experience as your customers move from online to offline or vice versa.
Identify the sources where your best leads come from and then take necessary steps to improve the user experience. For instance, based on a user’s previous history, you can route the call to an agent best with that type of call. This will help you close more leads.
Brands like REI are already doing it. REI ensures that all its shopping channels work smoothly and users get same information related to pricing and inventory across all the touch points.
2. Upgrade your buyer personas
Using big data to understand customer profile can increase the effectiveness of contact strategy by 30%. You can get all the granular details about your ideal customer from various types of big data from within your company and from other sources. For instance, you can track which websites your ideal customers visit, what type of Facebook pages they have liked, and when they wake up in the morning.
The more information you have, the better.
Creating buyer personas that represent your ideal customer in the truest sense will make your marketing campaigns extremely focused and targeted.
The beauty of big data is that you get tons of new data every day so this means you find something new every day about your ideal customer. Upgrade your buyer personas and keep killing it.
3. Fine-tune your product
Are visitors not responding to your new product?
Do they need something different?
Should you create a new product or upgrade one?
Big data helps you make your products better and appealing by providing data-driven answers to all product related questions. Not just because you have upgraded your buyer personas but you can track what exactly your audience is interested in.
For instance, if data reveals that a specific buyer persona isn’t responding to one of your high converting products, you can see what’s not working and this is what data will tell you.
4. Real-time personalization
This is one of the best tactics on how you can use big data in your marketing strategy. Big data helps you send highly customized messages, newsletters, and even products to customers based on their interaction with your brand.
Businesses collect customer and prospect data from 3.4 channels on average such as website, physical store, etc. Use this data to offer personalized content, emails, products, and customer experience.
You can integrate your website analytics into your autoresponder so that whenever a customer visits a specific product page on your store but doesn’t add it to the cart, he gets an email about the same product with a discount coupon same day.
Real-time personalization doesn’t just increase revenue but it makes existing as well as new customers happy. What else you need?
5. Targeted advertising
The Weather Channel analyzes the behavior of its users in more than 3 million locations. Advertisers use this data to send extremely targeted ads such as umbrella sellers can target people in locations where it is expected to rain.
Retargeting ads are just a glimpse of what you can achieve when you use big data for advertising.
Conclusion
Statistics show that as much as 85% of companies try to use or analyze big data but only 37% succeed in doing so. It isn’t important where your company stand at this point in time but what’s really important is how you use all the data in your marketing strategy that your company generates?
Let’s get cracking and see what wonders big data can do.
