- How can Big Data affect the success of your marketing campaigns?
Big Data is precisely what it sounds like – a large volume of, often unstructured, information that may include some fairly complex datasets. Engaging with Big Data means focusing on this vast mass of data and finding ways to analyse it, process and organise it so that it can provide crucial insights that affect strategic decision making. Given the volume of Big Data that relates to customers, potential and existing, this can be particularly useful when it comes to marketing campaigns.
Various online streaming services apply data derived from analysis of past behaviours and choices to make suggestions about what films or TV shows to watch next. Using this same approach, it’s possible to create a more responsive, customised experience for users browsing your website too. For, example you may be able to analyse Big Data to see how long users spend on a page or which pages they return to.
Next time they arrive on your website you’ll be able to show them similar content to that which the data shows they are already interested in. This element of personalisation would mean that the experience of browsing a brand website would be much more individual – similar to the way that a search engine delivers different results to users with different browsing histories.
Although a challenge to deliver for an individual website, customised web content provides the opportunity to integrate the kind of personalisation that makes marketing campaigns a real success.
Big Data may contain useful information about customer behaviours, such as how someone browses the internet. It provides insights that make it possible to create campaigns based on facts and solid evidence of consumer behaviour, as opposed to estimates and guessing. This makes it much easier to target marketing campaigns more specifically – and, consequently, to achieve better results.
Big Data can be fed into marketing personas to help with this process and can establish benchmarks that can be integrated into campaign planning, such as a preference in female customers for receiving marketing messages via email. Analytics tools are essential to get the most from Big Data for campaign targeting, to help process the large volume of data involved and create actionable insights.
If the products or services that you’re trying to market with a campaign are incorrectly priced then no amount of advertising or social media success will make them sell. Big Data can help you to get the fundamentals of your marketing campaigns correct with a more accurate pricing strategy. Factors such as the performance of past discounts or deals can be fed into future decision making. Other useful insights might be how much customers have paid for products in the past or the average disposable income of your target customer.
Big Data is evolving and becoming increasingly important to digital marketing. If you’d like to find out more about how to make it work for you, get in touch with Iconic Digital today on 020 7100 0726.
Author: Steve Pailthorpe - Follow us on Google+