DATA >>> KNOWLEDGE >>> INSIGHTS
Big Data is crucial for a business to understand how to build customer relationships. A brand marketing strategy infused with data analytics provides marketers a wider range of insights in developing better product engagement and customer response.
Data Analytics is not just for companies with deep pockets. Every business, big and small can use data to learn more about their customers, target segmented groups and help break the clutter and improve visibility.
But building customer-centricity is a challenging task. Especially when the objective is to build deeper relationships on an individual basis across different segments, markets and regions.
It all boils down to one specific and critical factor: how can CMOs learn more about their target customers?
How Data Analytics Gives You A Sharper Nail
Many CMOs rely on some data gleaned from market research they do, but primarily rely on experience and gut feel, when asked to determine what products and services customers may want and like.
Obviously, this makes their marketing efforts not so effective. With big data analytics, data reports provide leads that can help marketers understand customer behavior more accurately.
A new form of data analytics is helping CMOs understand precisely the needs and preferences of their target groups. Instead of linearly collecting data, the new approach utilizes circular data analysis.
For every like or re-tweet of potential customers to a brand’s Facebook or Twitter page, this data analytics system processes the crucial metrics and sets aside specific parameter.
This brings together the understanding of customer behaviors, shopping activity, and preferences for a product, service or brand onto a single plane.
Data Analytics – The Better Way
The ultimate goal in utilizing big data is to understand what data is valuable to your marketing goals.
- Big data can help enrich your marketing model and customer engagement. Helping marketers understand how to personalize a customer’s shopping experience and undertake a more personalized approach.
- Data Analytics point out the existing marketing flaws and indicates market trends that they may not be currently addressing. Giving marketers more insights about their weaknesses and which direction to take and make the brand more customer-centric.
- Every aspect of marketing may be considered based on the customer data and behavior, and give your customers a better experience. In fact, data analytics can help scale the marketing experimentation process to shortlist the most impactful messaging.
- Big data parameters can be used as a feedback loop to analyze whether a particular approach is working and is able to engage customers more effectively.
- Earlier, it was difficult to track down a customer’s online shopping patterns, or to know what kind of brands, products and services they usually search online. Big data analytics can now assist CMOs to translate and define data to get a broader and more accurate view and become more responsive to the demands of the market.
Data Analytics gives you the power to measure and improve your effectiveness. Identify which channels are working; who you’re reaching; and where they are. It also enables you to improve and personalize your messaging.
With Data Analytics you are able to leverage your data to gain more knowledge, help derive deeper insights and produce measurable results. In fact, it is the most powerful tool for building a brand – online or offline.