28 June 2019

What Big Data and Analytics offer to the Marketing Director

In recent years, Big Data and Analytics have created a huge wave of change in the corporate world, bringing new ways of doing business, unprecedented consumer knowledge, and new opportunities to do more and better with less risk and less investment.

Big Data and Analytics tools represent a huge step for Marketing, and they do not just focus on what the customer wants at the moment but anticipate their true needs and interests. Hence, today, Marketing Directors feel an increasing need to look at the large volume of data circulating in the world every single day, especially in the digital channel. However, it is important to note that it is only through good data management that it is possible to know who the consumer really is, as well as all his behaviours, habits and trends so that one can determine the best strategies to adopt.

At present time do you know for example…

Who is your consumer? What is he looking for? How much is he willing to pay for the product or service that your company offers? How often does he buy each product? Discover patterns in data collected through website traffic, generated leads, email campaigns, applications, or social networks?…

These are some of the issues that technology makes available through deep and effective historical analysis, identifying patterns and pinpointing trends in consumer habits.

When we attribute to marketing algorithms that are capable of recommending, analysing, crossing, and accelerating initiatives, it clearly increases the effectiveness of the strategy developed and implemented. By knowing more deeply how the consumer behaves, the Marketing Director is able to develop more targeted campaigns that respond to individual customer preferences. This significantly increases the chances of success, allowing to create objective and assertive strategies that also stimulate the conversion of prospects into new customers, while also retaining the current consumer.

By segmenting your personas, you can analyse the available information, classify them according to their sociodemographic, economic or social characteristics, and can perceive at what point in the funnel each user is found, at each moment, which enables you to develop actions customized and specific, leading to purchase.

Predictive analytics is an excellent tool for increasing the conversion rates of your campaigns (marketing funnel) and increasing brand visibility in the face of competition. According to the US consultancy McKinsey, companies that rely on reading and understanding data profit up to 15% more than other companies, regardless of the market.

Today, the Marketing Director faces a new set of challenges. The consumer is becoming more demanding and informed, which causes him to have rapid changes in his behaviour. As such, it is important for Marketing Directors to place Analytics and Big Data solutions on their agendas, to bring business intelligence, leverage new approaches, and achieve differentiating results.

Thus, by having at your disposal technological solutions that make it possible to transform data into insights, to leverage and support decision-making and, at the same time, to provide a set of information that creates added value, you will undoubtedly have a huge benefit for your marketing department and consequently a higher performance of the organization.

Advantages that Big Data and Analytics offer to Marketing

  • Increased awareness of the customer’s entire journey and his interactions with the brand. You can then tailor messages, channels and campaigns according to the preferences and needs of the consumer at that time.
  • Integration of data from various sources, such as social networks, website or applications
  • Marketing automation, which makes it possible to use different software to carry out marketing actions in an automated and natural way having greater control and a higher efficiency index on them.
  • Detailed analysis of the performance of each campaign, which makes it possible to evaluate and measure the evolution of the strategies and to adopt more appropriate actions and determine improvement points.
  • Decisions in real time based on truthful and objective information.
  • Right price. By knowing how much your consumer is willing to pay for the product or service you have, you can adapt your offer and attract more consumers.
  • Increased awareness of consumer interaction with the brand to improve supply and tailor it to his needs
  • Knowledge of new market trends and competition analysis
  • Identification of new business opportunities and development of products and/or services tailored to customer preferences
  • Objective dashboards and reports where you get a 360-degree vision of the company’s performance