Six Ways Big Data Can Refine Your Digital Marketing Efforts

What’s the one thing that all digital marketers must know? The fact that data is king on today’s marketing landscape. Having comprehensive and accurate data is essential for making effective marketing decisions. It can help executives identify industry trends and discover potential customers, making big data analysis important for optimizing your marketing strategies.

Enterprise leaders want to monetize their digital assets, promote an information-driven culture and leverage the full potential of their big data systems. However,most marketers fail to achieve these objectives because they deploy their data scientists poorly.In addition, they don’t devote enough attention to their data-driven initiatives and cast their data science specialists in ineffective, mismatched roles.

Other executives view the innovative resource from the wrong perspective; they mistakenly believe big data projects are solely a technical, administrative organizational feature — rather than a mission-critical operational undertaking. Still, others, fail to recognize that veteran executives may be resistant to change and neglect to position their unwitting data science team for a successful big data project launch.

The Numbers Reveal the Strength of Big Data

According to management consulting firm McKinsey & Company, core offerings generate 75-percent of most enterprises’ revenues — of whichmarketing executives undervalue and underprice at a rate of 30-percent. To understand how this impacts overall revenues, realize that a 1-percent across-the-board price hike would generate 8.7-percent in increased gross profits with no impact on sales volume.

44-percent of enterprises use data analytics and mining to boost consumer response rates and generate insights that guide executives in developing relationship-driven strategies, according to marketing consulting firm Forrester Research.Furthermore, according to a report released by Boston Consulting Group (BCG), 58-percent of chief marketing officers (CMOs) believe that search engine optimization (SEO), as well as email and mobile communications, are the areas where big data systems are having the largest impact on their organizations.

Here are six ways that big data can help enterprise leaders avoid these mistakes and position themselves to refine and improve their marketing efforts.

Use the Right Keywords With the Help of Big Data

If you don’t understand your customers’ behaviour, then how can you effectively market your products?The use of big data can help identify how visitors are finding your website and what keywords they used to get there. Understanding this information will allow you to explore related keywords and focus on the onesthat drive the most traffic.

Big data can also help you optimize your website so that when potential customers arrive, they see the products that interest them most. With this in-depth understanding, you can select which products to show different segments of your consumer base and effectively optimize sales.