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April 2013

Evaluating the Effectiveness of Digital Data in Your Marketing Programs and Knowing the ROI

By | Actionable Data, Big Data, Big Data Strategies, Uncategorized | 2 Comments

The good news is that your company has taken on Big Data. The not-so-good news is that the old metrics of assessing the effectiveness of your programs aren’t aligned with the countless benefits Big Data has to offer. As you discover new ways to implement the vast amounts of data you’ve collected, the more traditional means of data collection that you were more familiar with, such as online measurement of click-through rates, impressions, and cost-per-clicks, will no longer give you the information you need to decide if you’re on the right path. The question then becomes, how do you take advantage of the collaborative, contextual, and predictive benefits of Big Data?

Align Big Data with revenue-producing activities.

Big Data offers the ability to analyze more information than ever before, which is why everyone sees it as a necessity in today’s marketplace. The key is to take Big Data beyond the collecting stages and to really begin identifying the relevant datasets within the myriad of options. This can be a daunting task; however, the results will prove to be beneficial, bringing steady increases in revenue.

Digging into the levels of Big Data, offers the ability to capture consumers’ purchasing intent  and monitor it on a regular basis. The richness of Big Data will drive new product development and product introductions, helping you avoid initiatives that do not align with consumers’ intent. These benefits alone will help save you and your company time and money, while also signaling where you should be focusing the bulk of your product and marketing resources in order to harvest the greatest return.

Digging into the levels of Big Data, offers the ability to capture consumers’ purchasing intent  and monitor it on a regular basis. The richness of Big Data will drive new product development and product introductions, helping you avoid initiatives that do not align with consumers’ intent. These benefits alone will help save you and your company time and money, while also signaling where you should be focusing the bulk of your product and marketing resources in order to harvest the greatest return.

Start harnessing the influence of Big Data in your marketing programs.

By channeling the power of digital data, you will undoubtedly increase your revenue opportunities. Digital data analytics have the power to:

  1. Inform your company’s ideal messaging over a period of time through the tracking of changes      in customer sentiment
  1. Improve your  company’s decision-making
  1. Increase ROI  on all marketing programs

Big Data is a powerful tool that can significantly change the way you and your company conduct business. The datasets are robust, the ROI is real, and the benefits of applying  Big Data to your business processes will provide previously unidentified revenue opportunities.