Every marketer would understand the importance of having a rich supply of data whilst planning their marketing strategy. Technologies like - ‘Adobe Marketing Cloud’ and ‘Hootsuite’ can be lifesavers for marketers who constantly need to observe and communicate with their existing and potential customers. A system like Adobe Marketing Cloud is capable of putting the customers’ data into one area. This data can be found from social media, company websites, and emails. Marketers are able to use the built in analytics to answer questions about their customers and what they want. Once these questions are answered, marketers will have a clearer insight as to how they are going to develop a marketing strategy.
Creating your own big data by organizing a marketing survey could work just as well to devise a marketing strategy.
A well-designed survey will provide your company with an in-depth analysis of potential issues or areas of improvement with your products and services. Information provided by a survey should never be ignored as the data is coming directly from your customers who know exactly the pros and cons of your product. It is 6 times more costly to acquire a new customer than using your existing ones – so data mining surveys through your current customers may save you money.
"Pixel based retargeting" is a technology that is able to anonymously follow your potential customers. It is a simple but effective tool that most marketers will use due to the high ROI. The system works by putting a small piece of code into your company’s website. Every time a visitor looks through your website, an anonymous browser cookie is dropped onto them. That visitor will then be shown your advertisements on the advertisement space of other websites – potentially persuading them to reconsider your product.
The introduction of big data into the business world has revolutionized the marketing game by making it more data-led. Research has indicated that a data driven marketing strategy generates 5 times more marketing revenue than standard content marketing. So to summarize on how big data can craft the right marketing strategy, marketers need to understand that there are thousands of extremely useful tools that can extract information about the people of your interest. However, it is how you use that information to formulate a marketing campaign that is key to businesses success.