Use Big Data and turn it into an Intelligent Marketing Strategy
Marketing is all about targeting the right people with the right content at the right time. Over the past decade most marketing companies have been improving targeting, as they look to grasp the concept of one-on-one marketing.
As a consequence we are collecting and storing a vast amount of data from transactional usage, website usage and demographic data. And that’s before we look at external sources such as lifestyle, psychographic and behavioural data.
The opportunity to create a personal dialogue with customers is within our reach, but there are challenges. How do we turn use Big Data so that it works for us and improves our relationships?
Marketers have poured vast resources into collecting and storing data, but are finding it difficult to extract value from it. Companies that don’t have a proactive strategy are still collecting data with no knowledge about how to use it. Most marketers haven’t managed to turn it into actionable, intelligent campaigns.
So can we use big data for one-to-one marketing or is it a pipe dream?
Not for forward thinking marketers. Small and medium sized companies can now compete on a playing field they wouldn’t have dreamed off before. Now new techniques that fuse data and marketing have been created, allowing SMEs to step forward.
Brands now have access to innovative technology that can turn data into intelligent and effective campaigns, without the need for costly external third parties. Marketers from all sizes of company are collecting data and using it wisely to drive a personalised and consistent customer journey.
Here’s how they do it in practice:
Real time personalised website content: This shows how important cookies are. Without cookies we wouldn’t be able to personalise websites on a basic level. Most people are familiar with the usual ‘Welcome back Mr Smith’ message, but how can your brand take this to the next stage?
The real value lies in personalising everything – from landing pages, offers and messages, to personalised product displayed based on what they have previously looked at. The engagement is continuous by showing them products that the customer is most likely to buy based on the on the information that you have about them.
This can be updated in real time, so that actions taken throughout the session will drive what they’re seeing immediately.
Customer re-engagement: 80% of online shopping baskets are abandoned by shoppers prior to purchase. Many retailers have programmes in place to try to re-engage these people who are not yet customers. Systems like this are easy to implement and are a no-brainer for the marketers who are looking to see an increase in sales.
Marketers focussing on these prospects are targeting them with special offers if they return to the site and continue with the buying process.
The multichannel opportunity: The opportunity to turn data into intelligent marketing works across all channels. Use insight gained online as part of your telemarketing campaign. You could even try using browsing data to personalise imagery on digital catalogues.
Marketers can now create automated campaigns that bridge the gap between marketing departments and different purchasing channels.
We’re only at the start of such an exciting time, and the opportunities for merging data with technology are endless. We can now personalise every touch point and use insight gathered from every channel to drive relevant communication, whether this is online, in store, on the phone or through email.