Find out What Big Data is and How it Drives Profit
Many are wondering if “Big Data” is just another corporate buzzword, all sizzle and no steak. For many who utilize the term, it is just a way to try to dazzle clients with fancy terminology.
Many clients do not even realize the sheer amount of data about their customers they have. Their marketing firms probably don’t either.
Here is what Big Data is and how it is used to derive the highest ROI.
In the Beginning…
The internet has totally transformed the market for goods and services. Amazon is an excellent example of one company that not only changed the way goods are bought and sold, but how retailers can manage inventory and customer contact.
Amazon’s customers voluntarily provide the customer with data by using their website. When users log in, their every move on the site is carefully watched and documented.
This allows Amazon to provide a customized experience for every person who uses the site. Instead of getting “the” Amazon site, customers get “their” site as Amazon directs them to content and goods they are statistically shown to prefer.
With a properly designed website, businesses can know everything they need to about their customers. Better still, customers will volunteer this information because it improves their experience in utilizing the site.
A better user experience means dedicated customers who return to the site. Amazon now offers the subscription-based service Prime that generates massive revenue. It only did this because it had the data to make the right choices.
It Takes Time
Amazon did not gather this information overnight. Just like any other business, they built up a customer base over time by marketing their products and delivering excellent services.
With a properly designed Big Data strategy, marketing clients can establish where they are getting the most business and learn about their customers. Big Data is more than demographics, though; it means the ability to track customer preferences down to the individual level while also observing macroscopic trends.
SteerPoint Marketing offers the in-depth analysis necessary to getting the most out of a comprehensive digital marketing strategy. With advanced website analytics, our clients get a detailed look at how their customers are interacting with them and who they are.
Contact SteerPoint today to get a glimpse into how our strategy can turn a website into a revenue generator for your business.