Big Data is one of the biggest buzzwords in digital marketing. With the volumes of data on pretty much all aspects of everyday life now at all-time record highs, the ability to analyse big data can be a hugely-powerful tool to digital marketers today. Marketers that can interpret big data can help businesses to better understand their marketplace, refine their marketing strategies and transform customer experiences for the better. So, how are digital marketers already leveraging big data to get a more detailed understanding of what users are doing on websites?
Pull Google Trends data
One of the most effective and accessible ways of leveraging big data for digital marketers is through Google Trends. This website analyses the popularity of the leading search engine queries in Google Search. It is proportioned across various regions and languages. Marketers are using Google Trends to keep their finger on the pulse of topics that certain regions and nationalities might be interested in. They can also keep abreast of topics within the industry and popular culture that are uppermost in the thoughts of prospective buyers. It’s also very useful for digital marketers that want to help their clients spot seasonal opportunities that could yield more business revenue.
According to McKinsey, almost a third (30%) of a typical company’s pricing decisions each year fail to reach the best possible price for their product(s) or service(s). Market analysts can use big data to weigh a host of market factors—such as demand, seasonality and brand reputation, combined with a company’s financial status—in trying to find an optimal value for a product or service. At the other end of the spectrum, big data can also be used to help retailers ascertain a suitable price point that will attract customers and aid stock clearance. More accurate pricing for selling at best-value and for stock clearance could be the difference between a loss-making year and a profitable one.
Personalise the customer experience
The widespread global adoption of the internet has led to a mass surge of online content. Increased volumes of content online have made it harder for consumers to find the right information they need to make a purchase or take action. Big data now helps content creators and businesses produce and share content to specifically-targeted audiences. E-commerce giants can use data from the likes of Google and Facebook to direct their content towards those interested in the same topics and who are most likely to convert. This improves the overall efficiency of content marketing.
Thanks to big data, personalising customer experiences is also happening offline before our very eyes. In the world of iGaming, online poker rooms use big data to track and record all available user data, ranging from bet sizes to their average length of play. It’s all designed to create profiles for players that assess their risk tolerance and suggest incentives to keep them active.
Identify successful content
Big data is also being increasingly utilised to help develop digital content that truly strikes a chord with target users and customers. With so much online content available today, it’s important to create content that has value, not only to the readers, but also to your business. Big data helps to distinguish how successful even a single blog or social post is at driving revenue. Before big data existed, marketers simply forged ahead with content marketing strategies that they felt were working, but they had no definitive evidence to back up their claims. Today, big data even arms marketers with the ability to ‘score’ the effectiveness of certain types of content and hone their content marketing strategies based on the topics and tone that resonate best with prospective buyers; this compels them to act and accelerate conversions on your website as a result.
It’s important to note that big data can only augment digital strategies rather than kick-start them. Big data should be used to validate your thoughts, identify trends and keep human error to an absolute minimum when trying to understand your target audience. The possibilities are almost endless with big data, and it’s up to you to harness the numbers and make sense of it for your business or clients.