How Big Data Disrupts Marketing
Social media, a space with tons of data, knowledge and content, has given brands and organizations an easy access to insights about the preferences of their target audience and existing customer base. Applications of big data exist beyond marketing and while its impact can be seen on productivity, sales, manufacturing and other areas of the business as well, my focus in this blog is to highlight two ways in which big data is disrupting marketing:
Big Data Leads to Better Business Decisions by Providing Customer Knowledge & Insight
Marketing teams are always looking for ways and means to identify what the target audience is looking for. Social media has given marketers the perfect platforms through which they could gain copious consumer insights. People around the world indulge in posting tweets and Facebook posts to express their feelings, desires, needs, experiences and product/service reviews as well. All the information on these platforms can be of immense benefit to marketers in various industries. This is where big data comes into the picture.
Big data identifies the trends and patterns in the databank of tweets and updates; the point to note is that gathering data is not enough, it has to be used to drive intelligence and knowledge that is helpful in making business decisions. Combining big data with intelligence results in ‘Smart Data’. Smart data has been transforming the way marketing is done. With smart data, marketers are equipped to communicate with their customers with stories that they are more likely to resonate with.
Smart Data Results in Measurable Results
LeadSift is an example of a software that focuses on the buying process. It listens in on millions of conversations and identifies trends, psychographic and demographical cues with reference to customers and where they are in the buying process. Such insights help marketers understand when and how to engage a customer so as to encourage him to close the sale.
Measurable results refers to the fact that Smart data helps marketers track individual leads and work on them, while looking at the big picture of understanding the trends and patterns at the same time.
Organizations that opt to invest in big data are indeed investing in the future and profitability of their organization. Big Data has actually become necessary for companies that want to outperform their competitors as it is one of the tools that companies are competing on the basis of. The use of data is being made in practically every industry, and in most industries, both established organizations and new players are leveraging data-driven strategies to innovate and capture value.
Disclaimer: The views expressed here are solely those of the author in his private capacity and do not in any way represent the views of Systems Limited, or any other entity related to Systems Limited.