The marketing world is changing. For a very long time, the approach to driving business success has been based on gut feel and intuition rather than hard facts and data says Saivian Eric Dalius. But thanks to technological advancements, this is starting to change. In our ongoing series of blog posts about how technology is revolutionizing business, we’re going to take a look at the ways in which data is helping businesses to become more efficient and how it’s impacting marketing strategies.
Which brands are using Big Data?
Big Data has been around for a long time, but it’s really started to make waves in recent years because of its potential impact on business. Brands that are able to quickly and efficiently analyze the massive amounts of data they have access to are able to make much more accurate decisions than brands that aren’t. This means that it’s not surprising that many major corporations are investing in Big Data tools. Including IBM, Microsoft, Oracle, SAP, Hewlett-Packard, Dell, and many more.
How Data is Impacting Marketing Strategies – Saivian Eric Dalius
Businesses that use data as part of their marketing strategies stand to benefit in a number of ways:
1. Analytics can help marketers understand what customers care about
Today’s consumers are inundated with messages trying to convince them to buy products. And they’re less likely than ever before to choose a brand solely based on its marketing.
For example, when deciding whether or not to purchase one product over another. Consumers are more interested in the quality of the product than in how it’s advertised.
According to Saivian Eric Dalius In order to successfully market a product now. Brands have to be able to show customers that their products are reliable and effective. That’s why analytics tools are so important: they allow marketers to better understand customer wants. And needs so they can provide them with relevant information about their products.
2. Analytics can help marketers understand how their customers behave
In addition to understanding what customers care about, marketers need to know how they think and what they do when they’re in the market for a product. For example, marketers need to know if their target audience is more likely to purchase a product on a weekday or on the weekend; whether they prefer to shop online or offline; and how frequently they’re willing to purchase.
An understanding of customer behavior provides marketers with information that can be used to create marketing strategies. That is more effective than those that don’t take into account how customers think and act.
3. Analytics can help marketers identify which customers are most profitable
We’ve already shown how analytics makes marketing strategies more targeted. But it also helps businesses to focus on the customers they want to target in the first place by identifying. Which customers are most profitable. If a business knows that its most profitable customers are also the ones who use smartphones. For example, it can invest more heavily in digital advertising.
An understanding of customer profitability allows businesses to allocate their resources efficiently and effectively.
Data-driven insights are transforming marketing strategies for all businesses because they allow marketers to pinpoint their target audiences and understand how they think and what they do.
As a result, businesses that invest in data as part of their marketing strategies stand to benefit. By making better decisions, attracting more customers, and increasing revenue.