Benefits and Challenges of using Customer Data for marketing
Every second, thousands
of users realize actions on the Internet. They visit pages, watch videos, click
on banners, read the news, etc. This information is as a support of each person's
browsing behavior, trends, preferences, consumption, and habits.
Some companies have been
shaping their business, communication and sales strategies based on analysis of
information collected on the Internet using big data algorithms to understand
the market and anticipate trends. In addition, the use of data in digital
strategies have also directly impacted sales and engagement with brands. That a
great way to know the target audience, thanks to the analysis of data from
social media and websites, it is possible to win new customers and retain
current ones.
By combining big data
with an integrated marketing management strategy, marketing organizations can
make a substantial impact in these key areas (SAS 2019):
Customer engagement: Big data can deliver insight into not just who
your customers are, but where they are, what they want, how they want to be
contacted and when.
Customer retention and
loyalty: Big data can help you discover what influences
customer loyalty and what keeps them coming back again and again.
Marketing optimization/performance:
With big data, you can determine the optimal marketing spend across multiple
channels, as well as continuously optimize marketing programs through testing,
measurement and analysis.
Handling a large amount
of data, real-time, data security, shortage of skilled people can be a
challenge (Vaghela, 2018)
According to Bekker, most
of the reviewed challenges can be foreseen and dealt with, if your big data
solution has a decent, well-organized and thought-through architecture. And this
means that companies should undertake a systematic approach to it.
References:
Bekker, A. (2018). 7 Major Big Data Challenges
and Ways to Solve Them. [online] Scnsoft.com. Available at:
https://www.scnsoft.com/blog/big-data-challenges-and-their-solutions [Accessed
22 Feb. 2020].
Sas.com. (2019). Big
Data, Bigger Marketing. [online] Available at: https://www.sas.com/en_ie/insights/big-data/big-data-marketing.html
[Accessed 22 Feb. 2020].
Vaghela, Y. (2018). Four
Common Big Data Challenges - DATAVERSITY. [online] DATAVERSITY. Available
at: https://www.dataversity.net/four-common-big-data-challenges [Accessed 21
Feb. 2020].
Well written
ReplyDeleteThanks Clinton
DeleteGreat work Lais. Very good content.
ReplyDeleteThank you very much
DeleteVery informative Lais. Using customer data for marketing is one of the key for business.
ReplyDeleteYes and it is great!
DeleteYes, big data with a good marketing strategy is the key to success! Good article! Thanks for sharing.
ReplyDeleteI'm glad to hear from you Natalha
DeleteYour article is really clear. Thanks for sharing that with us
ReplyDelete
DeleteThanks for the time you spent reading!
Very well written lais.
ReplyDeleteThanks a million Leornad
DeleteGreat insight 👍
ReplyDeleteThanks Saurav
DeleteVery nicely explained.
ReplyDeleteThanks Shubham
DeleteYou're absolutely right, with the right architecture most of the challenges discussed can be dealt with. Great article, Lais!
ReplyDeleteI'm happy to see that you liked it Arjun
DeleteVery good article, let’s see which challenges and benefits use customer data will bring to us as marketers!!!
ReplyDeleteThank you Marilia. I am sure that it will be very useful for us.
Deletevery well written
ReplyDeleteThanks Saurav
DeleteThis comment has been removed by the author.
DeleteWell done Lais, Customer data allows improving strategies.
ReplyDeleteThanks Francisco.
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