by Angela Guess
Bernard Marr recently wrote in Data Informed, “Many people believe that great marketing is an art form, but lately big data has added a serious dose of science into the mix. Smart marketers are now relying on data more than ever before to inform, test, and iterate their strategies. And even though data and analytics will never replace the creative minds that are at work behind the best marketing campaigns, they certainly can provide those minds with incredible tools and insights that can help them perform even better. Big data and analytics can improve your marketing efforts in many ways, including the following.”
His list begins, “More clearly define your ideal customer. In the past, marketers frequently had to make best guesses as to the demographics of their ideal market segment, but that is no longer the case. With big data, companies can easily see exactly who is buying and tease out even more details about their customers, including things like which websites they frequent, which social media channels they use, and even which buttons they click while on a website. Optimize customer engagement. Data can provide insights into who your customers are, where they are, what they want, how often they make a purchase, when and how they prefer to be contacted, and many other important factors. Companies also can analyze how users interact with their website – or even their physical store – to improve the user experience.”
Marr continues, “Improve customer retention and loyalty. Many retailers have implemented ‘loyalty card’ systems that track a customer’s purchases, but these systems also can track which incentives and promotions are most effective in encouraging a customer – individual customers as well as the overall group of customers – to make another purchase. Marketing optimization and performance. With traditional advertising, it’s difficult to track impact and return on investment directly. But big data can help companies to make optimal marketing buys across many different channels and to continuously optimize their marketing efforts through testing, measurement, and analysis.”
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