Pitchrate | Why Does Big Data Matters to Marketing?

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Amber Chen

An Marketing enthusiast in Branding, Digital & E-commerce with Sociology angles. Obsessed with Electronic Consumer Goods. Live in New York and Taiwan. Worked in branding and digital marketing agencies as a strategist. Have traveled to 20+ countries. Dream job is make the positive impact ...

Category of Expertise:

Business & Finance

User Type:

Expert

Published:

07/11/2014 02:51am
Why Does Big Data Matters to Marketing?

You must hear “Big Data” this term over and over again. But wait, how does it related to Marketing? Why do marketers need to care when our hands are already full?

The research from Smart Insights states Big Data is the third biggest commercial potential businesses should invest in Marketing in 2014. Although the trend slightly declined from last year, 13% of voters still think Big Data is a important tool Marketers should pursue. If you don’t have any clue about Big Data, An introduction to using Big Data for Marketing will be a good start.

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Thanks the technology, brands have collected costumers data for many years but until recently, marketers can analyze better what customers are looking for by collecting browsing behavior, click-through rates, social media interactions, etc. especially when the database is well-built and can be accessed easily.

Combined with demography data, our database can profile those people who live in the same neighborhood may have the similar income level and personal interests. Marketers can make a specific marketing strategy to target these segment of customers. For example, a double-income family with two pre-primary school kids may like to receive information about baby clothing or infant education. Therefore, Cater’s can send out catalogs to the neighborhood; when time goes by, Cater’s can predict how old those kids now and send out customized catalogs for different ages of kids’ parents. Moreover, those data allows us to personalize messages on a 0ne-to-one level when brands reach out customers.

The other important way to predict who your potential customers are is using RFM analysis. Based on the RFM theory, R— recency means customers who recently purchased from you are most likely to response your message. Customers who have high frequency to purchase items from you have higher possibility to become your loyal customers. The last one is monetary. The more amount customers spent, the more they are interested to your products.

You can predict which customers are more likely to response your emails as long as you database is well-designed and keeps all the record organized. Therefore, it can downsize your cost of sending out email or promotion by knowing more about target customers. Only sending out right information to right customers at right time by using right media can help you communicate more economically and efficiently.

Check my blog for more articles: http://ammkgt.wordpress.com/

Keywords

big data, marketing, smart insights, database, carters', marketing, customers, data, using, right, marketers, predict, kids, ammkgt, trends, wordpress, database
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