One of the hottest and most promising trends in marketing is the use of Big Data to uncover consumer behavior. With more and more data available about our lives, companies are increasingly turning to analytical tools to learn more about their customers. Specialists determine what exactly will be in high demand to provide relevant information on the offers provided. This approach helps to boost sales and increase the profitability of the business.
General introduction
Such a concept as Big Data is relatively recent. The first mention of it appeared in 2008 in the journal Nature. Big Data is information that is accumulated by machine by calculating each of our actions made online. Information is taken from social media, online stores, smartphone apps, etc. This makes it possible to find out more about customers: what products they are interested in, what evokes positive emotions and what influences their decision-making.
However, it is important to accompany the use of this technology with strict security and privacy measures. Organizations need to be aware of the laws and regulations governing the use of personal data so as not to violate consumer rights.
Big Data in marketing
Big Data plays an important role to understand your target audience more accurately and create a unique offer by predicting people's behavior. Due to modern technology, the analysis reveals trends in minutes. This helps to optimize your advertising campaigns and achieve the best results.
The information collected allows you to create unique messages that will precisely meet the needs of a particular person, increasing efficiency and reducing costs.
What tasks does the technology solve?
Big Data plays a key role in modern marketing, providing unique opportunities to identify people's needs to predict demand for goods and services. Processing data on consumer purchases and preferences allows organizations to adapt to changes in the market environment and offer their customers what they really want, as well as optimize the process of promoting the services offered.
Overall, this tool becomes an indispensable tool for sales professionals. It helps them to make informed decisions based on facts and not just on intuition. Thanks to the use of Big Data in advertising, businesses can increase the effectiveness of their strategies and achieve greater success in the market.
What does Big Data help with?
Technology can highlight key points that influence purchasing decisions. For example, through big data analytics, you can identify factors that inspire greater trust in a particular brand or product, as well as the optimal time and channel to deliver messages. Information on previous spend can help determine its propensity and interest.
Segment the target audience
One of the major benefits of Big Data is highlighted by calculating the exact segment of the target audience. Companies can now get a deep understanding of the needs, preferences and financial capability of a certain group of individuals. Email newsletters will become much more effective. For example, you should not send an email with the same content to a lukewarm client and people who have not heard anything about the firm. A lead should be sent an offer for a targeted product that has previously piqued their interest. New users will be more interested in reading the content chain. The success of properly composed targeted advertising is proof of this. Incompetent composition will lead to a loss of money and time, which is sometimes so lacking. SEMANTICA's qualified specialists will determine the target audience, collect the semantic core, analyze the business and find the best solution to increase sales.
Increase customer loyalty
Customer retention is the main focus of many marketers. This is explained by the fact that attracting new ones is many times more expensive than retaining existing ones. But how to induce interest in new purchases? This is where Big Data comes to the rescue. For example, it is known that there are similar variants in the line, one of which a person has already purchased. Accordingly, he will be sensitive to other variants as well. Receiving auto-newsletters on holidays such as birthdays, New Year's Eve, etc. will help improve communication and remind you of yourself.
Transactional processing can show which services generate the most interest. Using machine learning algorithms, you can determine the likelihood that a user will take an action in the future. For example, you can predict the likelihood of churn and take measures to retain it in advance.
Develop or improve products
By analyzing data from social media and surveys, you can identify trends and tendencies to develop new products and improve existing ones to meet customer needs. For example, based on user preferences, you can outline what features or functions should be added to increase competitiveness and sell off illiquid inventory.
Personalize e-commerce
One of Big Data's main roles in marketing is to enable personalization in the context of e-commerce. By analyzing information about users' behavior on the site, their preferences, area of interest and even social status, which will allow you to know which products certain users need and which ones they have already purchased. Then, based on this information, you can offer him similar additional accessories.
Optimize advertising campaigns
By collecting large volumes, experts are able to predict audience demand and customize their advertising most effectively. By taking into account not only demographics, but also the preferences and purchasing history of each individual. By researching response materials for different types of mailings, marketers learn which elements work best and which should be avoided. For example, pedestrians won't be interested in offers for car accessories.
Buyer patterns
The marketplace is structured in such a way that companies have to focus on keeping the buyer satisfied. The relationship between seller and customer has grown tremendously in the last few decades. Trust is one of the keys to a successful business. It can be achieved by working out and creating a unique strategic approach. For this, one turns to action patterns, which include purchase frequency, average cost, preferred channels, etc.
Patterns are specific patterns in consumer behavior that can be identified using Big Data. For example, it can be inferred that a certain group often purchases additional products after the initial purchase. With this knowledge, special offers or promotions can be developed to incentivize additional transactions.
Data science analyzes people's spending
Having collected information about spending at precise time intervals on various online platforms, marketers study the price range to optimize mailings. A person whose average check does not exceed 1000 rubles is unlikely to be interested in expensive options. Justify this by distrust of online services. Approaching salary is an excellent reason for planning future purchases.
Forecasting strategies with historical data
Using data about people's purchases and actions, companies refine trends and predict future trends. This helps in developing effective promotional strategies. An example is analyzing the seasonality of demand. Using historical data, periods of high demand can be identified, allowing you to plan your costs and inventory of goods in advance.
Information helps to see the similarities of past recessions
Identifying consumers' algorithms for cutting back on spending in times of economic crisis and uncertainty can help identify people's priorities to better strategize and prepare in advance for similar situations.
To summarize
In conclusion, Big Data is modern marketing that has become a key factor in the success of companies. It allows you to predict customer behavior with high accuracy to adjust advertising strategies so that they are as effective and attractive as possible for a particular audience.
Q&A
The main characteristics of Big Data?
Reliability of the collected information and subsequent storage, high speed of processing, large volume, variety of applications, ability to structure the obtained content, report generation. The main goal is to increase efficiency.
In what cases Big Data is used?
When the amount of information can not be handled by a person and one computer, as the memory exceeds the indicators of the hard disk, the impossibility of processing in standard programs like Excel, the need for more than one tool.
Where is Big Data used?
In the modern world, this technology is extensively used in various spheres. In addition to trade and advertising can be found in medicine, agriculture, industry, banking, telecommunications and science.