The new digital era has opened a door of opportunities for marketers. Yet with digital comes data and with data comes analysis…
Big Data? I thought it was all about digital…
I recently attended a “Women in Digital” Meetup in which a group of about 50 women and 3 brave men joined together to discuss emerging trends for marketers. Native advertising, mobile marketing techniques and new smart technologies such as wearable watches which detect the amount of sun exposure one receives during the day and talking refrigerators were mentioned throughout the conference.
It became clear to me that Big Data has become all the rage for marketers today, yet the importance of data analysis had been overshadowed by all of the new digital marketing techniques. And while these new marketing capabilities might seem like the best thing since sliced bread, challenges around this modern form of marketing remains. Sure, most marketers are familiar with the impact that social media and smart devices can have on reaching a larger, global audience – this is obvious. What isn’t so obvious for many marketers though is how to incorporate Big Data analytics to draw insights from consumer behavior and generate leads from marketing campaigns.
Dvir Reznik, Director of Marketing at justAd, shared his thoughts on the challenges associated with Big Data being used by marketers today, stating, “’As marketers, numbers are part of our daily lives. And with so many tools and services available today, the challenge is not gathering the (big) data, but making sense of it. Personally, I love working in conjunction with Optimizely and Google Analytics, as they complement one another, helping me close the loop on the ‘Build-Measure-Learn’ cycle.”
And making sense of the data generated from digital marketing campaigns is the real underlying factor for marketing success. A 360-degree view of a marketers’ customer can be achieved through Big Data analysis, resulting in smarter, more accurate campaigns and a slew of other benefits.
The research says it all
Teradata conducted a survey in which about 2000 marketers were questioned on their use of Big Data. 70% of these marketers responded that they plan to start implementing Big Data analysis within the next two years.
According to a recent Forbes.com article, 60% of organizations that used Big Data at least half the time in their marketing campaigns exceeded their goals. It was also noted that 92% of companies that made sufficient use of their Big Data exceeded their goals, while only 5% fell short. What’s even more interesting for marketers is that seven out of ten firms using Big Data said that they were able to determine the right audience in all or most of their media activities.
Big Data to the rescue!
Simply put, Big Data must be embraced by marketers in order to create effective marketing campaigns that sell and exceed goals. Successful marketers must look past new digital marketing tactics and focus more on a Big Data strategy to understand the information behind the campaigns. After all, marketing is all about winning consumer hearts and selling products, and Big Data provides marketers with the facts on how to win in the marketing battlefield.
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