The next BIG THING in the marketing, Big Data refers to the flow of huge data across the marketing campaign aspects. Whereas Big Marketing is the high-performing marketing organization, responsible for managing the Big Data, in relation to the people, market, aligned process and technology to create viable campaigns. Digital marketing professionals needs to keep a tab on the emerging online marketing techniques, analytic tools, social media platforms and mobile marketing schemes to make sure that they are well acquainted with the Big Data objective and utilization, for creating innovative and unparalleled marketing mechanism.
Understanding the architect and implication of Big Marketing is complex, so it is necessary that the the digital marketers understand the whole concept of four major elements of Big Marketing: Four V’s. It will help them to grasp the complex nature of marketing, concept of structured and unstructured data input, predicting and analyzing business and organizational circumstances.
The 4 V’s, explained below, defines the dimensions and framework of Big Marketing, related to marketing campaign:
Volume: Amount of Data
The amount of data available for marketing campaigns is huge and grows exponentially through varied unstructured sources like machine based data, market research based data, and data sourced from social media platforms. This data would then be analysed and filtered through analytic tools, and would be suitable and concisely used for varied campaigns, like programs, marketing campaigns, and tactics, keeping pace with the budgetary limitations and projective options.
The sourced data aspects are varied and concerns following:
Qualitative data: It refers to the consumer information, collected through communication with the customers, varied research studes, feedbacks and more. This data is then compiled, analysed and used for productive marketing resulting in better leads.
The virtual address of a business receives visitors, who represent different communities. Identifying them clearly, their interest and channels they use to visit your site (desktop, mobile, etc), helps in designing the site, and driving the marketing strategy aimed at enciting them more and more for profitable sales.
Profiling Data: This represents the personal information of the customer, like their address, profession, age, sex, lifestyle, marital status, and so. This data is mostly sourced from social media channels, and is largely beneficial for creating and designing service and products customised to suit customer’s needs.
Customer engagement data: This refers to the interaction of customers with a business, including their purchase history, interaction with the business’s social media channel, and other communication with the business. This data collection could help in creating marketing campaigns for enhancing customer engagement.
Variety: Options Galore
In today’s digital age, online marketers are equipped with varied customer engagement source, which provides plentiful of data. The wide channels of information source are market research, social media platforms, e-mails, customer feedbacks, forms, and much more. A proficient and accurate data management system is all marketers need at helm to strategise their marketing in a sophisticated manner.
For managing data from varied source, anayltic tools and segregating techniques are highly important for database and interpretation in a clear manner, which can then be used for influential business advantage.
Velocity: Quick Data Streaming
Quick response is a key in thriving in this digital age of data-influx. WIth loads on information, Big Marketing requires marketers to be quick and precise in managing the data and responding to customers. Marketers need to create innovative and unparalleled ideas and offerings to lure customers to their business, and be readily available for customer engagement round the clock.
Marketing specialists should be ready to create adept and instant suggestion for similar products. Embracing mobile marketing is the need-of-the-hour, where customers can be engaged quickly through apps. It gives better opportunity to reach a large base of customers and leverage the full potential of this platform.
Value: Useful or Not?
Unlike Big Data, where the fourth V is Veracity, the Big Marketing includes Value, which refers to the marketing value that is critical for the marketing campaign. Proving value to the customers is a much-needed effort on the part of businesses to remain substantial. Assessment of the whole marketing process, from infrastructure cost, operation, and impact on the customers and business drive is highly significant.
The 4 V’s of Big Data are highly essential in today’s marketing scenario, to give digital marketers an elaborative approach for the marketing campaigns. It helps to embrace the technology to shift towards more efficient and competent process, that helps in leveraging full potential of capabilities and increase the business prospects.