With every passing day, the data that is being generated for consumers is increasing multifold. Social networking databases and GPS tracking add to this by maintaining information about the geographical location of individuals, their interests, preferences, perspectives, and other such needs. However, all of this giant pile of data could not do much good to marketers who had no optimized way to analyze this data until now.
Let’s look at some of the big time benefits :
Easily able to recognize potential customers
In the past, basic client info like demographics, marital status, location, etc. was used by marketers to figure out potential clients. However, now the equations have changed. Things like lifestyle habits, shopping patterns, interests, family details, dynamics have given Big Data a competitive advantage.
Provide exciting offers to current clients
Recommendations provided by shopping sites like Amazon is one such example that tends to offer deals to customers specifically in what they are interested in. This is again based on Big Data Analytics. Do you know that more than thirty five percent of Amazon’s sale is through its recommendations provided to the customers.
Creation of Profit-making ads
Ads based on user’s preferences are created using data from search engines and social media. For instance, if a person is frequently looking for spa and salons, a spa deal can be offered to him via Google AdWords or FaceBook Ads. This leads to more targeted and profitable ad making.
Analyzing campaign results
Metrics like success and overall performance of a campaign through a media channels can be calculated through Big Data easily. An accurate campaign leads to clear results and reduced costs for any company.
It collects big amounts of data like back links, keywords, internet trends, etc. and, in turn, benefits businesses through these statistics. A link analysis tool can do wonders by visualizing your results in a clear and concise manner.
New marketing opportunities found
Every product requires an upgrade at some point of time. It helps companies the requirement for upgrade and the areas that require tweaking through Big Data patterns.