In the digital era, almost every action you take can be recorded into data. A simple click on a website can tell an algorithm which advertisements to show you. Clicking follow or like on a social media page can lead to different suggestions of similar pages. There’s a digital profile of your possible interests, demographic data, and other public information that different data analytics companies create automatically.
Everyone who’s used a digital device that’s connected to the internet has one. Your company might also have an extensive bank of information with transaction and sales data, as well. This extensive collection of data is called “big data.” And it has a variety of benefits for your business operations, especially for your marketing efforts. Here’s an overview of it and how to use it.
What is Big Data in Marketing?
Big data’s definition depends on the field it’s used for. For marketing, big data is all about collecting massive amounts of information about your target audience and competitors, analyzing them, and using the results to improve your marketing decisions. This information can come from a data science solutions firm or your own database.
However, with the massive amount of information you have to process, it can be difficult to pinpoint how they can help your marketing efforts. Know how you can make the most of big data.
Know Your Audience Better
Way back when, getting customer data was a drag, even for big companies. You had to survey hundreds of thousands of people to create a buyer persona. With digital methods, the process is easier than ever. For one, you can use digital surveys to gather and analyze information about your customers without having to leave your office. If you need qualitative data, you can invite them to Google Meet and Zoom for interviews. You can also get demographic information from customers when they register for an account on your site or subscribe to your newsletter.
On the other hand, you can also get information from data analytics firms. They gather customer data from various sources. This can be through email tracking, third-party trackers from apps, and cookies from websites. You’ll receive a complete profile of who your customers are, from their demographic data to their common attitudes and interests.
Improve Your Online Ads
The more data you gather about your audience, the better you know them. You should leverage this information to create more relevant advertisements to your customers. Once you have the data you need, you can then input them into the targeting section pay-per-click advertising platform of choice.
Google and Facebook both have great targeting tools that allow you to be as specific as you can about the people who will see your ads. This saves you money because you get fewer clicks from people outside your target audience. It can also increase your conversions, as you only get clicks from users who are highly interested in your products.
Personalize the Shopping Experience
The information you get from cookies is great for personalizing content and products for customers. Over 72 percent of people solely engage with marketing methods customized for their needs and preferences. For example, if you find that customers are viewing or buying a particular product, you can suggest complementary items they haven’t thought of purchasing yet.
You could also suggest blog articles relevant to your products like guides or lookbooks you’ve made. This way, you can keep customers on your website for longer after buying an item. And the more time they spend on your site, the more chances you have to lead them to another purchase.
Help Your Product Diversification
Data science firms can also provide information on your customers’ shopping habits. You can use this information to possibly offer items that are both relevant to your current business and your audience’s interests. For example, if you’re a fashion retailer that only offers tops and bottoms, you might find that your customers visit and buy from your competitors’ site because they have footwear. You can try to match them by researching and creating a footwear line of your own.
Big data has enormous benefits for your marketing campaign. It can help you create a more precise picture of who your target customer is. And with the vast information you collect and analyze, you can create highly-targeted ads, personalized shopping experiences, and more diverse offerings your audience will surely love. Businesses big and small are already using big data. It’s not a matter of if, but when you’ll start using it.