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Role of Big Data in Marketing Sector

Role of Big Data in Marketing Sector

May, 05th 17

We have been doing marketing in the traditional way but in the fast growing digital era no more you can drive positive results to a business by traditional marketing, so it’s time to catch up with the growing technology and how we can make it effective to our industry.

Marketing is an activity where its importance may not be defined to which particular industry it should be applied, irrespective of any particular industry it is a need for any sector.

 

Interpreting the purchase behaviour of the customer and framing strategies accordingly and decision making are the most important aspects of marketing, as we are talking about framing strategies and decision making let’s see what made traditional marketing outdated.

 

In traditional marketing it’s not that we were not interpreting the results or framing strategies, it about how quickly we are responding to behavior of the buyer, in traditional what actually happens is we interpret buying behavior, we analyze the data but the process was too late and results were not that accurate, as this is the main phase in marketing to make decision making and framing strategies Big Data has been brought into picture.

 

By introducing Big Data into marketing sector we actually can forecast the buying behaviour of the customer, his current trend in buying and also his future trend. While interpreting data we can know what has made him buy that particular product, suppose a customer comes to e-commerce website as he is in need of a product, first day he comes to site he sees product and specifications and everything but he did not buy and this process is continuing for many days but the customer is not buying it and we also can track until which page he is coming and what is making him to deny the purchase or buying process if he adding product to his cart but not buying it means he is interested in the product but price is the one that is bothering him, so you can frame some strategies to make those type of customers the ultimate buyers.

In this way analyzing data and analyzing purchase behavior can be made easy by Big Data and also if we are running any online marketing campaigns we can interpret what is the customer’s response, we can also check out about the demographics which are getting attracted to the campaign and by interpreting, if the outcome is not to the line we can analyze and make the campaign more effective.

 

You might be thinking, is it not possible or this was the same that we were doing in traditional marketing, the thing here is when you are using traditional techniques you don’t that you are losing customers until you actually lost them and any strategy made after losing the customers make you completely a loser.

Using Big Data techniques will definitely make the strategy and decision-making process more effective and will lead to drive profitable results to business in the long run.

 

 Let’s get into some interesting stats about the role of Big Data in  marketing sector

 

  • Your campaigns efficiency will be increased around by 16% compared to previous, it means you can power campaigns and promotions.
  • You can drive customer insights more effectively and accurately
  • Starbucks despite being a successful chain of business it uses Big Data in expanding their business and opening their store in a new location.
  • Amazon uses its Big Data in framing advertising algorithm and also to improve customer relation.

 

By going through the above facts you might be coming to decision that Big Data may not be suitable for startups or small firms but definitely one can say it fits any type of organization irrespective of size.

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