At the focal point of modern marketing is information. Without quality information, you cannot know how to get convertible leads. However, today, marketing coincides with an interesting phase of innovation where big data plays a big role in how marketers go about their business. I will look at ways big data is shaping the way marketers reach their audience.
1. Makes Targeted Marketing Possible
Reaching to the market is an art that requires foolproof targeting. With analytics, you can scan the population for your market. Apart from feasibility tests of retails stores, which require analysis of target audience, even companies targeting global customers use the same level of targeting.
If you make products for Microsoft Windows users, you can reach directly to them using targeted ads and offers. You don’t have to sell to everyone else who may not be interested blindly.
2. Market Information Synergy To Understand The Customer
When it is about people as customers, the information about them is usually scattered across various media, authorities, and inherent in them. With analytics, you can bring together this information together and make sense of it. Companies today can target the customer with precision.
3. It Informs On The Marketing Message
With competent information about existing solutions, one can make the message right for the customer. To do this, you need to understand the frustrations, needs, and proposals that customers put across. For example, product updates are based on feedback, without it, the improvement would not matter.
4. Customer Engagement And Consequent Growth
Information is not just about the company to its customers. Internal information and reverse communication from customers to companies is very healthy. Companies leveraging on feedback achieve tremendous growth. According to research, companies that engage customers are growing faster than their counterparts that do not. Social media is a great way to communicate. After this exchange, making use of this information separates serious companies from pretenders.
5. Tailored Customer Products
Customers are increasingly interested in custom products. If it is an enterprise software, companies want it customized for their use. Knowing how many people who would be interested in your service, you can evaluate the economies of delivering the service. In the process, you can control a niche customer base unique only to you.
6. Budgeting Decisions About Market Channels
Being frugal in your marketing budget requires perfect information lest you affect the effectiveness of your campaign. With analytics, you can confidently identify media channels effective to your cause. Without this information, you are likely to gamble with your strategy, which is not good.
7. Being Where And When You Need The Product
It might come by surprise that you will receive emails about antivirus updates mostly on the third quarter of the year. Some types of promotional emails you only get them at the beginning of the year. Why is so? Companies use big data analytics to understand general trends, and they use them to know when to come to you.