Smart Marketing – Leveraging Big Data for Marketing
Customer relationship has been called the heart of the reflections of marketing decision makers because it’s one of their most valuable assets. Every company has been trying to improve the quality of their customer relationships.
The advent of the web and social media has changed the public to report marks. Mass communication loses its meaning, consumers express themselves freely and expect advertisers a relationship based on the exchange and listening to each other.
What is smart marketing?
Smart marketing is the solution for customer relationship in the digital era; it enables customers to receive offers tailored to their needs. Smart marketing is not only the universe and the graphic composition of different campaigns, but mostly the content offered are customized – for example, products and services are tailored to each, or promotions may vary as the number of items offered as part of a loyalty program.
How such degree of personalization is possible? The answer mainly lies in the data.
Big Data + Marketing = Smart Marketing
As part of smart marketing, comprehensive knowledge of a client includes all data affecting their transactional behaviours – families of products purchased, their purchase frequency, volume of turnover that generates, etc.
This very precise knowledge of the transactional database then allows, as part of marketing campaigns, to offer the customer the product or service they need.
The use of this “smart data” allows the implementation of customized marketing campaigns at large scale – you can include as many as recipients in the mailing list, even if they are several hundred thousand or millions.
The science of marketing data service
Now companies collect all different types of data (accounts, hotline, commercial, social networks …). These business data sets are sufficiently rich and complete information for them to build a marketing campaign. Everything then depends on data analysis. Smart marketing not only aggregates information on customer consumption, but identifies the best activation levers. It also provides solutions for these data really come into action and take life in unique and personalized scientifically campaigns, customer by customer.
The power of the data to the service of the result
Because the marketing campaign is based on specific data to each client, smart marketing can calculate the Return on Investment (ROI) precisely for each customer. For example, marketers can send personalized products to a customer who bought one of the highlighted products in the promotion, which was created based on his detailed purchasing profile. The original process of transaction analysis used in smart marketing will record this purchase and will feed its analysis to improve knowledge of that customer. We can easily imagine the power of this approach as a measurable and permanent source to improve efficiency for marketing and sales.
Beyond even the unique vision of ROI, smart marketing can also guarantee of campaigns performance – for example, contact the right customer with the right product at the right time. Companies that adopt this approach will secure a significant improvement in return rates, their economic value and their relational efficiency, far ahead of the results typically found on conventional relational marketing campaigns.
Data is growing bigger every day, and there are countless data analytics tools available and being developed to help you see how well your online marketing campaigns are doing. Big Data is the biggest game-changing opportunity for the future marketing and sales.