Here’s a quick look at how big data is forever changing the marketing landscape.
In the past, marketers had to use their collected data to create ads that were targeted to broad demographics. Nowadays, though, big data platforms are helping companies sort, analyze and manage their immense amounts of data, which allows marketers to create ads directed toward individuals; this enhances the effectiveness of these ads.
Marketing campaign simulations
Marketers used to go off limited predictions in terms of evaluating the expected effectuality of their marketing campaigns. Today they can use big data simulations to test and practice their campaigns in a virtual marketplace. This allows them to make tweaks when needed, which greatly reduces failure costs.
Rear and front facing view of customer behavior
Big data enables marketers to catch both the past and current behaviors of customers. Browsing and purchase histories give deep insight into what a customer wants, how they want it and at what price they are willing to pay. This data can be stored using CRM systems, and then used to target consumers with ads that appeal to their unique interests and needs.
Pushing small businesses to the top
It wasn’t that long ago that the only enterprises that had access to enormous amounts of data were those that were large, boasting grand technology. Big data, however, has changed the frontier of competitiveness. Both small and large companies are playing on the same ball field, both having access to big data and its accompanying technologies.
Enhancing the communication process
A marketer can create the best advertisement that ever walked the face of the earth, but if it isn’t properly communicated to consumers, it will render completely useless. With big data, though, marketers are able to see how individual consumers prefer to be communicated with. If Anne likes reading emails, then email marketing will prove to be of value when marketing to Anne. If Bob likes watching videos, then video ads will likely prove beneficial when marketing to him.
It’s all about personalization, and big data enhances personalization to the max.
This article was originally published at: http://multiview.com/resources/big-data-top-5-ways-its-revolutionizing-marketing