Big Data in Marketing and Its 6 Benefits
Big data has become a very crucial field in the digital era. The concept of big data has also been applied in various fields, including in the marketing sector. Actually, what is the function of big data in marketing broadly?
Big data and digital marketing have a very close correlation because they have the same goal. In general, big data serves to increase traffic by targeting the right people based on analysis of certain information.
Digital marketing also has the same goal, namely to be able to increase the number of sales and the number of customers by using an accurate and effective strategy. In order to determine an efficient strategy, a more in-depth analysis is needed involving the use of Big Data.
Benefits of Big Data in Marketing
Even though the correlation between big data and digital marketing is so close, many companies are still reluctant to do this integration. As a result, potential income is not optimal because the analysis process does not use sufficient data.
For those of you who are curious about the benefits of big data in marketing, here are some things you need to know:
1. Benefits of big data in marketing: Helps Design Better Campaigns
The first benefit that you can get from using big data in marketing is to help the process of developing a better campaign. A good campaign will certainly have the potential to be able to bring in better traffic to your company.
In order to get better consumer personalization, of course you need to understand the behavior of your consumers. One way is to go through a cookie file when potential customers visit your business site.
In short, the cookie file is the process of collecting information about the activities of customers when they are doing their activities on the internet. Based on this collection of data, you can later do a better and in-depth analysis of the habits, activities, and even the customer journey of your customers.
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After knowing the analysis from these customers, later you can begin to compile and develop more relevant campaign models. So that the campaigns that are made are more targeted and the potential to increase sales is even greater.
In addition to the volume of data to be analyzed, you also need to pay attention to the types of tools to be used. Because the use of these tools will later be able to have an impact on the process of presenting data and also analysis results that can be followed up further.
2. Help Determining the Right Price
The role of big data in marketing which is equally important can be used to help determine product prices. If it is based on the classic method, then pricing is based on calculating production costs and then comparing it with prices from competitors.
For small-scale businesses or companies, this method may still be relevant enough to use. But for large scale companies, this method may not be very effective. So that the potential profit margin that can be obtained is not optimal.
Therefore, the use of Big Data can be a very appropriate potential solution to use. The use of Big Data Analytics is able to collect data in more detail and is also more complex.
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So that the data collected is not only in the form of products purchased by consumers. But also the types and product preferences desired by consumers. So that the analysis of the resulting pricing data will be more accurate.
In addition, the use of Big Data analysis is also able to consider economic factors and also the achievement of current sales levels. The use of big data analysis is carried out automatically with a fairly high level of accuracy so that it can save more time and resources.
3. Make More Accurate Business Decisions
The main goal in business is to bring in customers and simultaneously increase the Company’s profits. In order to achieve this goal, it is necessary to make the right and accurate decisions so that business operations can run more effectively.
Decision making in business must be done carefully and carefully. The goal is that there are no deep losses in any of these decisions because they can affect the business operations being carried out.
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In order to produce more precise and accurate decisions, of course, it will require a better analysis process. This analysis process certainly involves the use of data on a large and complex scale.
Big Data will be able to provide a lot of information that can be processed. Therefore, the results of the analysis that can be obtained will be more detailed and also more comprehensive. As a result, you can make more informed and optimal decisions for the business you are running.
4. Show Personalized Content
Many of you may have realized that Google always knows what products you have just signed up for on the internet. Then Google will display these products in front of you continuously in the form of advertisements when you are on the internet.
Another example is the Netflix application. This one movie streaming application can find out what the taste of the movie you are watching is like. Then it will recommend films of a similar genre to you.
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These are just a few small examples of the use of Big Data. The use of Big Data will be able to make the personalization process more targeted. Big Data makes use of information that is not provided by consumers. However, through the process of observing the behavior and actions taken by these consumers so that they can provide more appropriate personalized content.
The two examples presented above illustrate how effective the use of big data is in marketing. When content becomes more personalized, the potential for purchase conversions will also increase. So that the ultimate goal of increasing the Company’s revenue can be achieved.
5. Improving Consumer Services
The use of big data in marketing can also improve services to consumers that you have. Customer satisfaction is an important key to maintaining existence and improving the overall performance of the Company.
When a customer is satisfied with the service you provide, sales will increase over time. Therefore, the level of customer satisfaction will always have an impact on the potential and number of sales.
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One of the uses of Big Data in an effort to improve customer service is through the chatbot feature. This feature is also known as an autoresponder feature which will respond to questions submitted by customers.
Chatbot software can be integrated with messaging applications and interact with consumers. Chatbots are becoming popular as a business tool because they are able to provide fast feedback and save time and money.
6. Opening New Business Opportunities in the Future
The application of big data in marketing that is no less important is opening up new business opportunities in the future. The emergence of the use of Big Data in several fields is expected to open up opportunities for the emergence of new businesses in the future.
As technology develops, more and more companies will use big data in their operations and even marketing. Having the right data analysis process will provide valuable new insights about customers.
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Based on this insightful information, it can be an evaluation or innovation step to create products that are more suitable for the market. Having the help of digital marketers will also make the Company more aware of how often customers buy products.
Conclusion
Maybe there are still many who think that Big Data is a new technology. Actually this is not true. Because big data itself is actually the concept of big data has been known since before. It’s just that its popularity and use are becoming increasingly popular along with the rapid development of digital technology.
Big data can be applied to various fields, including digital marketing. The use of Big Data will make your company a data-based company that has appropriate solutions.
That’s a discussion about the role of big data in marketing that you need to know. Hopefully you will no longer feel confused about the roles and benefits that can be obtained from using Big Data technology to improve marketing.
