Big Data, Big Marketing, Bigger Business

The Harvard Business Review once called data analytics the sexiest career of the 21st c
entury and if you are in the marketing business, for sure you will agree with this. 

Data is the one who gives us the direction to go, not the other way around. In the end, 
reading all the data provided that we can identify which users are accessing content
on which devices, what types of content they are consuming, where they are in the
buying cycle, the products and services they are most interested in, and even exact
customer locations, enabling them to create highly personalized and topical content.

All the data moves very fast, so we have to be focusing on predictive analytics to find
new target markets. Whenever all these information are synced with a CRM software
with a strategy behind, it will be used wisely.

A chemical company, for example, analyzed market share in specific ZIP codes across
various industry segments instead of gross sales by region as they had in the past.
The company knew it had about 20 percent of the overall market for a particular
product, but what they learned through micro market analysis was that in some ZIP
codes, they had over 50 percent market share, while in others, they had less than
10 percent. This allowed them to specifically target new market areas ripe for growth.
This is a huge example of trusting and using well our data. It is all about following where
our customers are and aim to reach more of them. Try to understand what we do that
makes them relate with our brand.

Data helps us to identify what  channel, and what type of effort brings us more results.

Big data can help you improve your customer retention and loyalty. We can go deep
on what makes them loyal to our brand and improve it. So they will keep coming to
us and bringing with them their families and friends, as they will became ambassadors. 

Marketing without using the collected data properly is like surprising your partner on
Valentine’s day with the most expensive and acclaimed perfume when he/she is allergic
to it. So use it, explore it, get all the information that is relevant for your business and
from that point you start your marketing strategy; you create your segment knowing who
they are, what age, location, occupation they have. Talking directly to them without
saying their name.

Get to know what they like to read, what landing page they have to reach to close the
deal. Check what impacts them, blogging or social media, for example. You have to
know why and for what they need or want your product and then explore that deeply
and make it even more desirable. 

Reference:

WSU Online MBA. (2020). The Value of Data in Marketing and Business. [online]
Available at: https://onlinemba.wsu.edu/blog/the-value-of-data-in-marketing-and-
business/ [Accessed 11 Feb. 2020].

Mercury.one. (2020). [online] Available at: https://mercury.one/digital-marketing/
big-data-marketing-value-problems-and-solutions/ [Accessed 11 Feb. 2020].

Sas.com. (2020). Big Data, Bigger Marketing. [online] Available at: https://www.sas.com/
en_us/insights/big-data/big-data-marketing.html [Accessed 11 Feb. 2020].

Data, M., Management, C. and Bergh, K. (2020). Is Your Big Data Delivering Small Value to Your Marketing?. [online] Martechadvisor.com. Available at: https://www.martechadvisor.com/articles/data-management/is-your-big-data-delivering-small-value-to-your-marketing/ [Accessed 11 Feb. 2020].