Through interaction with potential consumers, it is now possible to know precisely what they expect from the product in question or how often they wish to be contacted.
Of course, contact can be made through the main digital channels such as social media, search engines, e-mail marketing and more. In fact, customers always leave specific traces in each interaction they have with the brand.
From this comes an immense amount of information that makes up the so-called Big Data, which are currently the most important source of news about consumers and their buying habits.
So, real time analysis of data and the resulting predictions about the future are the most demanding challenge on the horizon for businesses around the world. Predominantly benefiting from the use of Big Data is marketing.
That's when we talk about Big Data Marketing, a valuable aid in targeting business growth. But what exactly does it consist of and how can a proper Big Data Marketing strategy be structured?
What is Big Data Marketing
Big Data Marketing represents a great opportunity for marketing development and change. For those who do not know, the Big Data are a vast set of information collected in real time with speed of accumulation and complexity.
For modern businesses, Big Data is a direct consequence of the innovative advertising and marketing landscape, thus born out of the digital reality in which we live.
This term refers not only to simple data, but also to the skills and challenges that come with managing and storing immense amounts of records, useful in achieving more accurate decision making than in the past.
The decision-making driven by Big Data has given rise to what is commonly referred to as Big Data Marketing, but being able to rely on big data does not necessarily imply a winning strategy or greater sales.
Big data is only the material, an indispensable component for making decisions and acting in an informed, results-oriented manner. In truth, many marketers think that data has always been "big," and in part this is true.
But while 20 years ago we were talking about point-of-sale transactions, coupon redemption or direct mail campaigns, today the data collected comes from social media interactions, online purchases, conversion rates, bounce rates, geolocation and more.
By now, companies are dealing with a substantial amount of information, changing customer behavior, and added competitive pressures. The very new technologies have created A very complex and difficult to manage environment.
Big Data is increasing by 40% every year, a very impressive growth, but the new Big Data Marketing solutions allow information to be processed optimally.
In a nutshell, the ultimate goal is to make decisions, identify problems/opportunities, and have better positioning of a brand's product on search engines and in the eyes of the customer.
What information does Big Data Marketing make use of?
To be productive, Big Data Marketing relies on the collection of at least 3 categories of information:
- Customer data: the most familiar and meaty group for those working in marketing is composed of this kind of data, which is made up of metrics on behaviors and attitudes from sources such as websites, point of sale, marketing campaigns, social media, loyalty programs and more;
- Financial Data: this information is usually hosted by the company's financial systems and includes data regarding profits, revenues, sales and other items inherent in the financial and economic health of the company;
- Operational data: This includes objective metrics measuring the quality of marketing processes involving operations, budget controls, resource management, and so on.
Where does the information for Big Data Marketing come from?
Today, Big Data is extracted from a substantial number of sources, most of which are available on the Internet. Let's go find out which channels to take the necessary information from.
- Browser: Cookies and IP addresses are obtained from web browsers that monitor search data and sites visited;
- Search Engines: one can refer to Bing and Google to identify search intentions and keywords;
- Social network: There are plenty of social networks to check out, such as YouTube, Facebook, LinkedIn, Twitter, Instagram, Snapchat, TikTok, and Pinterest;
- Online form: thanks to the contact forms of websites and apps, information such as age, gender, profession and more can be obtained;
- Voice assistants: much data is inferred from voice assistants such as Siri, Alexa, Cortana, Amazon Echo, or Google Home, which are becoming increasingly common in homes;
- Mobile data: are those from mobile devices such as those involving geolocation;
- E-commerce: From e-commerce sites, it is possible to know the amount in the shopping cart, the products purchased, and so on;
- Data from physical stores: This category includes information from physical stores, either in person or by phone or survey;
- Internet Network: from the web one can find data on information sites and online media about the company's reputation;
- Internet of Things: The most advanced enterprises have the opportunity to extract data from connected objects through IoT.
What impact has Big Data had on marketing?
On closer inspection, it is not the data itself that is the determining factor. It is rather decisions and insights coming from them to really make a difference in a business growth and development process.
By combining Big Data with An appropriate and shared marketing strategy, companies can generate a major impact in 3 areas:
- Optimization of various performances: Thanks to Big Data, the ideal marketing spend can be worked out across multiple channels and actions can be made optimal through analysis, measurement and testing;
- Customer loyalty: The data collected are indispensable for understanding what it is that drives and influences customer loyalty and what keeps them coming back toward the brand every time;
- Customer engagement: Big Data can provide information not only about who potential customers are, but also about what they want, where they are, and how they want to be contacted.
How to refine marketing strategies with Big Data
In the current scenario, Big Data cannot be considered a trend or a fad of the moment, but rather a real necessity For those working in marketing in any company in the world.
In short, possessing truthful and accurate data is vital in order to make effective decisions aimed at the company's bottom line. Here, then, is how to use Big Data within Digital Marketing.
- Identify the target consumers: Every day customers are presented with ads such as videos, texts, and banner ads, and this is done through activities of Programmatic Advertising. In this case, campaigns are specific to customers who are most likely to be interested in a certain service or product. This is possible by means of Big Data, which is used by specific platforms called Data Management Platform (DPM);
- Choose correct keywords: setting the right keywords when launching a Google Ads campaign or publishing a blog page is critical. The use of Big Data helps to understand what customers are looking for on the web and what keywords they came to our site with. From the analysis of this information, other related keywords can be discovered to focus on those that convey the bulk of traffic;
- Improved navigability of sites: in this sense it can be useful to take advantage of the use of Google Analytics to know how customers found us, which pages are most visited and which are not. Another very valuable tool are the so-called heat maps, interactive maps that are used to understand how customers behave on the site;
- Creating retargeting strategies: One of the best Big Data Marketing strategies is Retargeting, based mainly on the cookies. Having tracked customers previously, the cookie allows Retargeters to create ads only for those consumers who have been to our site and have not finished their purchase. This methodology is very effective because we focus toward people who are already familiar with the brand and have shown interest in the past.
- Monitoring social campaigns: Big Data can be used to consistently monitor the results of a particular marketing campaign and understand whether it is better to make corrections or stop it. For example, with Google Analytics one can check whether the campaign is performing and on which channels, so as not to waste budget resources.
Examples of the use of Big Data in marketing
In the marketing field, the use of Big Data is now widely used for cases of recommendation, as is the case with the big giants of the world economy.
For example, among the largest companies to rely on Big Data are. Amazon and Netflix, which submit purchase proposals according to the customer's interests.
Netflix does a tremendous job in offering customers personalized advice taking cues from the TV series and movies they have already seen on the platform. Similarly, Amazon leverages individual users' browsing data and then suggests products suitable for their needs.
These data also play an important role in the retail sector, going to focus on the purchasing behaviors derived from items such as e-mail marketing, newsletters, loyalty cards, receipts and more.
In conclusion, it is easy to see how each marketing activity would not be the same without the help of Big Data.
On the other hand, there are still doubts and resistance by users in accepting cookies and tracking systems that are often perceived as an invasion of privacy and works to control what you do on the Web.