Big Data is no longer just an idea or a buzzword. With all the time that people spend online and the fact that most of their lives and information are on the Internet, big data can change lives and impact many industries like healthcare, traffic, and so on.
But no other industry has been affected by big data in such a meaningful way as the marketing industry. Marketers are using AI and Machine Learning more and more in order to go through the huge amounts of data and get useful information they can act upon.
The predictive aspect of it allows them to make a conclusion on what the customers are likely to do in the future as well and they can adapt their efforts to it. Big Data gave marketers an opportunity to better understand what customers are doing on their websites as well.
Here are more ways the marketing industry is impacted by big data:
Big Data enables targeted advertising
Publishers are gaining more data on their visitors and this allows them to provide more relevant advertising. Google and Facebook are already doing it with their amazing targeting options but third party vendors will soon have the same array of choices.
You could target people based on their recent searches, articles they read, lookalike audience and so on. There is no limit to the impact big data is making in the marketing world. For instance, whether channel is analyzing the behavior of their users across the globe and combines this behavior with the climate data in order to sell targeted advertisements. To illustrate, if it’s raining in one area, they can offer raincoats, boots, and so on. If the person lives in a humid climate, they can offer anti-frizz hair product.
Big Data makes it easy to create more relevant content
Just like advertisers are able to offer more relevant advertising, marketers, bloggers, and website owners would be able to share content that’s more personalized to their customers. The content can look different based on who is seeing it as well. Catering to the needs of customers should always be a top priority and companies who don’t adhere to these new changes will be left behind in the digital marketing world.
Big Data allows marketers to adjust prices in real time
“Pricing has always been one of the main priorities of marketers for monitoring and adjusting. But with the big data, marketers are now able to adjust their prices in real time. It makes it possible for companies to change the prices between the normal ones for regular users and lower prices for those who are price sensitive,” says Gina Dunbar, a data security manager from UKWritings and Essayroo.
This can be done through coupons, promotions, and so on. But companies are doing more than that. If a user visits a website in order to buy a product but dislikes the price of it, the website will send targeted advertisements to that customer, showing lower prices.
Big Data improves customer loyalty
“Through more targeted advertisements, more relevant content and personalization, customers are more loyal to brands than ever. And this is only increasing with time. Customers are becoming brand ambassadors and improving brand image,” says Jimmy Gordon, a data analyst at Studydemic and Eliteassignmenthelp.
Big Data makes it simple to measure ROI
It’s surprising how many companies or marketers have no idea how to measure ROI. But big data takes all channels and activities into account, providing a cost-benefit analysis for each of those elements. It becomes almost impossible to misinterpret any part of the results.
Big Data provides more accurate testing results
“Because big data involves huge amounts of information, it enables companies to analyze and test more than just variants of a single factor but rather conduct testing of all sorts of additional data including prior visitor histories. All of this provides more conclusive results,” says Helena Petris, a marketing strategist at Boomessays and Stateofwriting.
Big Data allows for semantic search
A semantic search is a type of search which is able to recognize natural speech patterns and provide relevant results based on those inquiries. Incorporating this into your website and make your search functionality and the user experience.
Using big data is a great way to improve your marketing efforts across funnels and channels. Hopefully, this will help you understand just how useful it can be.