Everything we do online today is now stored and tracked as data. For instance, buying an item from Amazon or searching for something online generates data about what you are looking for, when you are searching, the specific features you are trying to find, and so on.
Your smartphone is also continuously generating data about where you are, what music you listen to, which apps you love the most, how fast you are moving and so on. As a result, massive amounts of unstructured data are being generated globally at incredible speeds, making it unmanageable using traditional storing analysis methods.
This is where the term Big Data comes from. Thanks to the advancements in technology, big data has become a powerful tool at the disposal of marketers. It delivers insight into exactly what your customers are, where they are, what they want, how they want to be contacted and when. Through helping marketers understand consumer preferences, it paves the path for a strong and remarkable bond between brands and their consumers.
Here are a few ways you can use big data in sales and marketing
To find new leads
You can use big data in sales and marketing to gain insight into how consumers feel about your product or service. Big Data will help you identify your best sellers and then link the data with social data to help you realise any barriers that may be hindering an increase in overall sales.
With this information, you can tap into new markets, and gain access to a bigger target audience, thereby providing your business with new leads. When the results of social data are used intelligently, your business can increase your prospects of social selling. Your marketing team can offer your ideal customer profile high-quality personalised content to attract new leads and increase engagement
To learn more about consumer psychology
When properly analysed, big data can help map out the entire consumer journey while allocating different weights to different touchpoints based on their role in making a scale. This information not only helps businesses in better allocation of marketing resources, but it also improves the efficiency of campaigns with data backed decision making.
Big data can help sales and marketers identify consumer preferences and track their purchase behaviour. With this information, they will gain the opportunity to understand consumer demands, thereby pitching in the right sales strategies. Also, they can offer their consumers more targeted products
Big data provide bottomless pools of data that marketers can use to gain insights on the current and future buying behaviour. For many years, marketers have been stuck with a backward glance of their website visits, open rates, downloads, clicks, tweets among other important factors without providing any clue as to where they are going or what to expect ahead.
Big data collected from external systems like web and social media, internal systems like CRM and purchase histories, bottomless pools of data provide marketers with insight on the current and future buying behaviour. This data gives actionable insights that can drive sales of current products and services as well as give rise to newer and better products and services as well.
With the help of big data, companies can determine the optimal marketing spend across multiple channels. It also continuously helps them optimise marketing programs through measurement, testing, and analysis. Relevance and timeliness are not just qualities of journalism or the press.
They are also the foundation of successful marketing campaigns, consumer engagement, and e-mail click-through rates. Big data give marketers’ timely insight into who is interested or engaging with their product or content in real time.
No matter the kind of industry you are in, you have innumerable competitors in the market all vying for the same consumers. So why should consumers opt to buy your products and leave all others? What makes you stand out against your competitors? Well, personalisation and customisation of products is a vital aspect in this regard.
Today’s consumer wants personalised products or services. They are more likely to associate with a brand that understands their unique demands than with someone who is clueless.
Big data enable businesses to communicate with their customers in a way that is personalised, relevant and more targeted. For instance, Amazon uses data garnered from purchasing histories, browsing histories, wish lists and carts to reach out to customers by name with individualised product suggestions.