How Big Data Impacts your Integrated Marketing Management Strategy?
All that unstructured data moving across continents at lightning speeds over the internet network is gold for digital marketers. But it might need a little bit of digging around and cleansing the raw data in order to convert it into nuggets of information. But the inordinate impact of big data on your integrated marketing management strategy is undeniable. 90% of the data available today was generated in the last two years. Data drives today’s marketer and big data is the treasure trove of all data that is generated around the world.
For marketers, deploying big data might be the biggest game changer since the advent of the internet a couple of decades back. Big data is the umbrella term for all that big volume, variety, variability and velocity of data coming in at increased forms of complexity, with each passing year. The digital marketing ecosystem revolves around data and deriving valuable insights from it in order to help brands grow.
When decisions are taken based on data the final outcome becomes more predictable since the motivation for a certain decision is firmly based on factual underpinnings. Handling big data has its own associated problems, complexities, the need for specific domain capabilities and competencies in order to derive value from it. The next phase in this process involves storing that data in the right manner and using analytical tools to assist in a data-driven decision-making process.
Today customers have a plethora of options and they have plenty of resources at their disposal in order to research the right product or service before making a buying decision. Thus this change of market dynamics and customer empowerment means digital marketers have to be at the right place at the right time in order to make the right noises about the product or service that they are marketing.
This is where big data can have immense implications on how to go about creating the perfect marketing campaign in order to help grow the brand’s reach and revenues. Big data has gigantic potential when it comes to tipping the balance in the favour of progressive brands that are smart enough to use it. This data after all is an aggregate of raw data collated from various electronic channels and platforms courtesy of the Internet.
When deployed in the right manner it is possible to build highly valuable integrated digital marketing management strategies that are in sync with customer needs and provide a seamless, consistent and Omnichannel marketing touchpoint for the customers. But all these things hinge on the aggregation of authentic, accurate and timely data that can be deployed in the right way to make the maximum impact.
Big data can provide valuable information on the customer proclivities, past buying behaviour, engagement rates, loyalty to a certain brand and such other powerful nuggets of data that can be positively exploited to deploy a personalized digital marketing campaign.
Key Takeaway: Knowledge about the customer is paramount and the digital space provides enough opportunities for the new age marketer to explore information about the customers on an unprecedented scale. Today your customers are on social media, use instant messages, watch product demos and videos on YouTube, download informational content from the Internet and so on. All this information can be conveniently gleaned using big data capabilities. This can later be exploited by deploying analytical software. Big data can help brands to come up with a marketing optimization campaign. Depending on who your target audience is and what they are expecting, it is possible to tailor-make a campaign to suit individual tastes and preferences. It is the age of personalization and big data helps brands do just that on a scale and level that is just mind-boggling.