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Actionable Data

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.

Using Digital Data to Retrofit Traditional Customer Acquisition Programs

By | Actionable Data, Big Data, Big Data Strategies, Customer Acquisition Programs, Data Asset, Data Collection, Data Integration, Data Management, Variety, Velocity, Volume | No Comments

Your company continually develops and executes customer acquisition programs to identify prospects that are in your “sweet spot.”  You have your regular lists that you employ to get a lift in your campaigns, but they seem to yield fewer leads as time goes on.  What would happen if you tapped the power of consumers’ voices?  What if you could identify and reach that “sweet spot?”  You can, and the information you need is waiting for you in the social web.

The Dynamic Power of Consumer Voices

Millions of conversations are constantly taking place in the social media sphere, many of which are referencing your products.  These conversations are an ever-changing dataset that point directly to your new prospects.  Imagine the possibilities of gaining up-to-the-minute prospects, real consumers eager to know more about your products.  Instead of using the same old go-to lists, find new prospects by listening to what they’re saying online.

Tapping into the Potential of Actionable Data

The information you’ll find in the social media sphere encompasses the “3 V’s of Big Data,” important characteristics that enable digital data to better inform your marketing and lead generation efforts:

  • Volume – Big Data boasts a depth of data beyond what traditional data sources can offer, offering companies significantly more valuable insights.
  • Velocity – The rate of change in Big Data is greater, given the dynamic nature of the Web, thus offering companies a look at consumer interests in real-time.
  • Variety – Big Data comes in many different formats, including video, web logs, geo-location information, all of which bring a depth unknown to traditional sources.

Harnessing consumers’ voices heard within the realm of Big Data will transform your customer acquisition programs.  By leveraging those Big Data sources that are most likely to have insights on the customers who are, or might be, interested in your products and services, enables you to better identify new prospects and understand their needs.  Analyzing the real-time consumer intent expressed online about your products and services will then allow you to convert more of those identified prospects to customers.  In addition to enhancing your ability to better identify and attract prospects within segments you’ve already identified, Big Data allows you to realize the potential of customers in previously unexplored segments.  In order to compete in the modern business world, companies need to retrofit their traditional customer acquisition programs with the enhanced analytic capabilities Big Data offers.