Applications of Big Data Marketing Analytics
Big data is an evolving term, and it consists of high volume of structured, semi-structured and unstructured data that has the potential to be mined for information. Big data increases the quantity of sales, it also improves the quality of sales, lead data, territory planning etc. These are the areas where big data is making enormous contribution to sales and marketing today. Big data marketing analytics
Big data also provides insights into how to lower the Customer Acquisition Cost ( CAC) and Customer Lifetime Value (CLTV) is its the newest trend and we don’t have to give second thought on it.
By providing various opportunities, big data is changing the marketing and sales in various ways. some of the big data marketing analytics strategies are:
Review Program Performance
Big data basically focuses on performance. It allows the marketers to review their programs for benefit. Marketers make data, center of sales and marketing decisions which in return increases the investment of their companies.
It allows the marketers to leverage data to capitalize on what works, while discarding wasted efforts on what doesn’t.
It also affiliates with more real time information and this allows to make better marketing decisions and enhances customer experience online, by increasing brand image and brand loyalty.
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Gain Consumer Insights
Doing big data data marketing analysis, you will find new opportunities for your program. It gives marketers the opportunity to gain insights about customers that was never possible before.
It also permits the marketers to tailor personalized marketing campaigns and upgrade the customer’s experience.
Analise Consumer Behavior
Big Data marketing analytics not only tells you about customer behavior but also expands customer intelligence. It examines various range of onsets that include structured information such as purchase histories, CRM data as well as unstructured data information such as social media etc.
Sorting from this information would surely help in expanding customer’s intelligence.
Improve Operational Efficiency
Big data marketing analytics also helps you improve operational efficiency. It frames the value chain that helps the companies to drive more operational efficiency from existing investments.
Big data is moving from the sphere of data scientists into business transactions. Various firms like insurance companies and others are getting benefit from this introduction big data for reduction of costs.
Need For Resources
There has been an increase in demand for hiring new people. As technology automates big data collection, there has been an increased need for hiring people.Computer scientists, statisticians are needed to filter big data.
Predict your customer’s needs before the customers say it. Big data helps in forecasting the future needs of the customers.
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Location Based Targeting
Not only this, but companies can also track the movements of the shoppers with the help of big data and use of data points.
Personalization through Big Data Marketing Analytics
We all know that every customer is different and their needs and wants are different, and presenting the same deals to all the customers will not work ever.
Big data marketing analytics can deliver insights into customer’s locations, needs and contact information. Personalization can be built by converting customer data from social media, customer’s review and insights that target customer’s individual needs.
But big data allows you to study the different trends in the market of almost every customer and then each time show them something new. And when the customer will be satisfied by your presentation and planning he would surely come back to you.
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