It is human nature to be afraid of something new or different. And as with any new concepts, there are people who are for or against it or there are praisers and naysayers. When Big Data came around, there were many executives and start-up businesses that berated the benefits and advantages of big data. Even the masses defamed the world of big data analysis and the people who believed in it. It was like living in the dark ages where nobody can’t touch religion with new, scientific findings and analysis. We, as civilised humans want to put our morals on the highest rung or the authority. But when it comes to new discoveries, findings and concepts specifically those that are backed up by science and mathematics, history has proven over time that it is very wise to trust the numbers. Trust science because it is backed up by solid evidence.
Some people say that big data are just a fad, but data-based analysis is not a fad. It is a fact. But then again, why is big data irking some people? Big data have become a very heavy and big topic because the trial and error phase is almost over. More and more CMOs are now looking for big data in making the right and smart decisions based on collecting data and numbers and not on guesses or surveys or spreadsheets that can be easily manipulated. Many of these CMOs are doing it without requiring data scientist to show them how to do it or what different data points correlate. How did this happen? Google has already figured it out.
The Trial And Error Phase Is Over
Google (the search engine) can be said that it is a big data heavyweight. The search engine takes anyone query, mostly in English and turns it into thousands of relevant search results. It does this by way of algorithms that Google often enhance to better give content. There was certainly a period of trial and error. If you remember when content farms are the kings of search engine results? Low quality content at high numbers put websites at the top of the search engine results. Google changed their algorithm to accept and understand high quality content and writing even if it is low on quantity. This change made content farms change their strategy and required true and real writers to enhance the quality of their content. It was not an easy change, but from the end user’s point of view, it has made the internet better. Companies that provide high quality articles from the start were funded well.
Make no mistake, big data makes the internet earn money without those annoying ads, banners and dubious digital business practices that have been prevalent during the early years of the internet. One goal of big, data is to provide an enhanced customer experience while monetising digital media. We cannot deny that most enterprises largely rely on print media for their marketing. The ads and sponsorship in print media provide more money to companies as compared to digital media. But despite the low and decreasing readership of print products, it still holds 23% of media advertising money are spent as compared to 22% on the internet and just 3% on mobile.
Big Data Is Changing The Landscape
The goal of digital media is not to kill print. The goal is to provide digital media with the right resources and funds required to make the user’s online and offline live better. Data-based analysis is becoming the standard in smart and future-oriented digital media enterprises. Big data is not a trend, it is a smart kind of business. The development will not stop and eventually, the naysayers will see the true importance of big data.
Big Data And Mobile Marketing
There are few things that we consider very personal, our privacy, our bank account, our underwear, our toothbrush and our mobile phone. In fact, the mobile phone is something that most people have with them every time, even in sleep. A study that was made by Morgan Stanley states that mobile devices and mobile users will surpass desktop users and desktop sales in 2014, which at present holds true now. Mobile devices such as smartphones and tablets are the preferred device by many and has become the primary tool most people use on a daily basis. The study also showed that 82% of the mobile media time was spent on downloading and using mobile applications. Another side of the data collected also stated that retail consumers prefer to use their desktop whenever they purchase something through a website and only 14% will browse or make purchases using their smartphone and tablets. The numbers are even low when it comes to purchasing used mobile apps with just 4%. Electronic commerce has become a very important and essential channel in making business marketing and sales, but consumers are still not taking the leap to mobile purchasing. Another issue is that there are still a large number of retailers that still prefer desktops.
The huge potential for mobile marketing is presently being realized and the sector behind it are also growing at a steady rate. The Internet Advertising Bureau UK’s digital Adspend report and conducted by PwC stated that in the UK, mobile ad spending broke the billion pound mark last 2013. It equates to 1.03 billion pounds which is 93% growth from 2012 with a total of 529million pounds.
Success Through Big Data
You can track the success of your marketing and ensuring the best customer experience by taking advantage of big data. If it is applied to retail and e-commerce, big data can be described as the combination of different and substantial data sources in creating new marketing insights and strategies. Any enterprise, big or small will have a better chance of catering to the needs of their customers through big data analytics. Present day consumers want businesses to understand their needs and requirements. Customers want to have a connection to their trusted product, business establishment or services; and big data have the has the ability to know how to connect with clients and customers and at the same time, positively influence the buying preferences of customers.
There are different ways of making big data as part of an enterprise marketing strategy.
1. Mobile Apps
Most mobile apps are just mobile version’s of a company’s website. The Early, mobile app user interfaces are really awkward to use because the screen or the UI does not automatically adjust to the orientation of the screen of the smartphone or tablet. For a mobile app to be successful, to engage and reach target customers, the company site should follow a responsive design and the site should be able to access the website across all platforms (PC, Mac, Android or iOS). Big data can also provide predictive search where the business can provide a list of suggestions of products or services to consumers which can reduce input time and makes purchases faster.
2. Geo-specific Advertising
This type of advertising has been around for a time now. For example, Facebook or Twitter is scheduled to let companies to promote status messages or tweets to anyone that is near a specific area or location before the year ends. Big data can access the demographic information, purchasing patterns and social behavior which can help with changing marketing strategies based on what the consumers are interested in.
3. Customized Recommendations
The marketing team will also benefit from big data analytics since it will allow them to customize the shopping recommendations for any customer. By analyzing the search patterns, a mobile application can automatically adapt and adjust a landing page that will take the customer to the last item the customer was checking on a website.
Modern technology such as big data will play an essential role in mapping, molding and monitoring consumer behaviors. This can also determine where the companies can harness the advantages of data in just a few clicks. Big data and business intelligence can turn in revenues around and bring in the expected ROI. Big data is not a fad and it is proven that it works. Battles have been won because of the right data and information. Don’t be left behind and be beaten by your competition.