Marketing is a way of reaching customers and making them aware of your product or service. It can convince them that your product is better than your competitors’ and leaves them with no qualms about purchasing your product. Running a business without marketing doesn’t mean constantly a business; it means you don’t run your business.
With evolving business trends and environment, traditional marketing techniques have been replaced by “digital marketing”. Digital marketing simply means marketing your product using the internet as a medium.
Digital marketing offers endless opportunities for a business to grow and reach a larger audience with comparatively less effort and cost. However, this is only possible if a company takes full advantage of digital marketing and uses it in the right way.
Since digital marketing is not a very recent phenomenon and new changes are constantly occurring in this field, companies need to think about marketing beyond social media and websites.
Marketing – in its traditional form – requires the use of data to ensure success. And that’s why famous author and social media scientist Dan Zarella says: “Marketing without data is like driving with your eyes closed.”
Here’s everything you need to know about big data and how important it is in the digital marketing process.
What is big data?
data management etc big data are at the center of business concerns, particularly customer data, which is a key marketing asset today.
In the digital age, the data collected is unlimited and comes from multiple sources, but is usually scattered between the different information systems. The centralization of data is a challenge for many companies. In order to be manipulated, all this data is often centralized in data warehouse (large databases) or a data lake (The data is kept in its original format, but all stored in the same place). Many advanced technologies are used to store and manage the collected data.
Big data implies larger, more complex datasets, especially from new data sources. These data sets are so large that traditional data processing software simply cannot manage them.
For easier understanding, here are the 4Vs of big data:
As the name suggests, the amount or volume of “big” data is enormous. It includes information on social media platforms, point-of-sale data, and e-commerce sites.
Big data consists of several data types. There are mainly three types: structured, unstructured and semi-structured.
The dictionary meaning of speed is speed, and when we talk about big data in digital marketing, it means the speed at which information is formed and stored.
Truthfulness means truthfulness. In big data, veracity refers to the quality, accuracy, and credibility of big data. It depends on the data source.
Big data and digital marketing
This also applies to data in digital marketing. Here’s the thing – marketing is nothing without data. Decisions based on data are (often) better decisions. The importance of data in marketing can be explained as follows:
Hire staff to improve your digital marketing efforts across platforms, and spend significant time and energy on marketing efforts—all of which can go to waste if you don’t target the right audience. Had it been the twentieth century, finding the right audience would have been an extremely difficult task for a company. But in the 21st century, with technologies that can turn the world upside down, finding the right audience is not a difficult task.
Big data analyzes help to find the right target group. Collect customer information about browsing apps and websites, interests, needs and expectations – everything is possible with specialized software whose functionalities can be combined into a central view of your customers. This type of solution, developed on the basis of many innovative technologies, has advantages:
First, gather information about the entire audience to determine your target audience; Then you just collect information about your audience and work to improve their user experience. This can be seen as an extension of the previous point. It includes the analysis of the information collected so that the marketing actions can be personalized for each customer.
This helps in two ways. One is to collect specific sales data to understand your customers’ buying behavior and then implement appropriate marketing strategies such as sales discounts and offers. Second: If you manage to use big data optimally, your sales will automatically increase.
This hits two goals in one go, as the company’s goal of increasing sales is achieved and customers are also happy about unique offers.
Big data and its analytics allow a company to understand what its customers think about their company or brand. Digital marketing involves frequent posting on various social media platforms. Collecting data about audience reaction and analyzing it can be very helpful. This allows a company to learn more about customer engagement, their loyalty and how they feel about their brand.
Although various tools available on different social media platforms help to analyze a company’s social media performance, big data analysis gives a deeper insight into the customer’s expectations and therefore proves to be a good feedback tool. Mechanism.
If big data analysis helps gather information to market a product or service, it also helps gather information about the results a particular marketing campaign has brought to a company. This allows a company to compare the spend on its marketing efforts and the resulting results in a comparable manner. Thus, big data can be used before, during and after a specific marketing campaign.
Measuring the results in relation to concrete data helps the company to learn from any mistakes and also allows the company to showcase its success to the audience and its competitors.
Just as the role of digital marketing in marketing cannot be ignored, the role of big data in digital marketing cannot be ignored. It’s as important – and obvious – as salt is to food. With the changing trends around the world and the internet taking over most of it, the practices in the business world will also change. Only companies that adapt to changes in the business environment will be successful in the long term. So the importance of big data in digital marketing is undeniable.
A better understanding of the concept and techniques of Big Data and the resulting right approach will help any business to succeed.
This article was contributed by Mariia Lvovych, CEO and Founder of Olmawritings and GetReviewed.
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