Big Data, big data, big data or even data, so many terms that qualify the phenomenon of recent years. Many talk about it but very few really know what it is: it is, vulgarly, a gigantic database where information is stored, and very generally that of consumers …
From a marketing point of view, large firms quickly saw this as an opportunity to optimize their campaigns and customer relations. Gradually, with the explosion of digital data, the process became standardized and Big Data finally became essential in the strategy of large structures.
With the exponential increase in connectivity, the information collected has never been so quantitatively important and incredibly diverse. Today, any object has the potential to become connected and therefore to transmit information (see this article for more information). The impact on current marketing techniques is likely to be palpable, as will the changes that customer relations will undergo. What are the marketing prospects for Big Data by 2020? In what ways will practices evolve?
Sales and marketing harmony
No one can deny it, the misunderstanding between sales and marketing is almost a business foundation. The arrival of digital within the companies’ strategy, however, promises a significant improvement in the relationships between the various departments.
The communion between two entities depends almost essentially on their ability to communicate with each other. Today, digital technology brings new solutions allowing increased interactions and exchanges. Among them, Cloud CRM constitute a real optimization of the performance of the cooperation. These are tools that allow you to retrieve Big Data and use it for marketing purposes.
They are particularly helpful in terms of Lead Nurturing. To put it simply, it is the “incubation” of prospects, pending their maturation and their transformation into a customer. By marketing actions and in particular by emailing, it’s about nurturing the relationship. CRMs can thus allow marketing teams to define precise and regular reporting to the sales forces who will be responsible for accompanying the most qualified prospects to the act of purchase. In this way, the two entities are linked in a fluid and efficient way, the salespeople have hot prospects and information about their interactions with marketing campaigns.
E-mailing also fits perfectly into a Marketing Automation strategy proposed like the possibilities of a tool like Oracle Marketing Cloud. It is the set of automation techniques which make it possible to launch and maintain a marketing campaign without human intervention. The tool allows salespeople to just wait for the system to notify them of a qualified prospect. From this moment, the sales forces take over and finalize the sales process. It is a process that allows both harmonize marketing and commercial techniques, but also to help teams run other campaigns in parallel.
Know the customer of tomorrow
The knowledge of its future customers today necessarily induces its acquisition tomorrow. It is a philosophy that has grown rapidly among large companies since the appearance of data analysis tools. In particular thanks to Customer Intelligence, it is now possible to gather customer information and carry out a predictive analysis of the market.
DMP (Data Management Platform) are, as their name suggests, data management platforms. A worthy successor to the traditional customer database, the Bluekai DMP aims optimize targeting and refine marketing campaigns. It will collect information from different flows (more than 160 today) and analyze it to create a clear segmentation and above all refine the Marketing Automation scenarios by including more parameters and opportunities. The tool is particularly useful in the perspective of a retargeting campaign, or in order to target base social users, viewers on your YouTube channel, etc.
The data collected and the results of studies will be profitable in the context of a predictive analytics. The objective of such a process is to predict the behavior, preferences and future needs of its customers. We generally assign scores to each customer, linked to the probability that he performs a defined action: purchase, termination, etc. It is a strategy that requires a large amount of data, which is notably provided by Big Data and DPM.
Predictive analytics is a real asset since it is able to optimize the targeting and execution of marketing actions to transmit the right information at the right time, and to the right prospect / client.
“SoLoMo” data as a conversion accelerator
The “SoLoMo” concept stems directly from the development of the Internet of Things (IoT), the increase in the number of connected objects. It fits directly into a Cross Media approach with its 3 dimensions:
- Social: the socialization of the brand initiated by social networks makes it possible to create a data flow.
- Local: companies seek to establish proximity through media tools and content.
- MBbile: contiguous follow-up of customers thanks to an adapted mobile support which makes it possible to recover information on their daily life.
Overall, the data recovered using the “SoLoMo” concept is precise information since it is drawn from a sphere relatively close to the consumer. “SoLoMo” is part of the development of Cross Media and multi-channel strategies because it uses different media. Knowing your customers optimizes the sales process. The “SoLoMo” data will therefore constitute an essential element of the conversion process.
The limits of personalization
Like all marketing strategies, personalization has both strengths and limitations to which you should pay attention. As a reminder, it corresponds to the use of data stored in Big Data in display or any other marketing technique.
However, many companies make the mistake of confuse personalization and intrusion. It must be ensured that the information used in the context of a marketing action does not enter the private sphere of the consumer. The feeling of vulnerability and being watched is to be avoided at all costs, at the risk of missing the conversion and scaring the prospect away.
You have to differentiate on-site and off-site customization. For example, finding an advertisement linked to consultations on another website can be disturbing for the consumer. On the other hand, posting offers on products which interest him and which do not come from outside is perceived as a service, and can trigger the act of purchase.
The use of data to personalize the user experience is a real marketing asset, but practice should be controlled to avoid creating a feeling of discomfort.
Privacy laws, is Big Data in danger?
With the popularization of the use of personal data, consumers are increasingly concerned that this process goes too far. This is why governments are developing laws regulating the use of this information. Privacy policies, the right to be forgotten and privacy laws are unequivocally the biggest threat to Big Data.
Concretely, there is no fear of the disappearance of Big Data but rather a change in its functioning. It will increasingly be necessary to anticipate regulatory constraints upstream of any project related to datamasses. For example, medical, religious or political data is prohibited by law. Big Data does not currently filter the data that is collected. A system must therefore be put in place that prevents this type of information from entering the databases.
These are the kinds of changes and arrangements that can be expected. Finally, the impact on marketing strategies is far from being considerable. It’s even an aspect that can enter into a brand’s policy to enhance its image.
Why wait until 2020?
As we have seen, Big Data makes it possible to be efficient both internally and externally. It undeniably represents the future of marketing and promotional campaigns. The amount of potentially accessible information is increasing with the standardization of social digital and the Internet of Things. It is therefore time to embark on this type of strategy, the first to adopt and master it will undoubtedly be one of the major players in marketing by 2020. It is an investment certainly considerable, but one that promises a great long-term profitability.
If you are still unsure of the value of activating Marketing data (with or without Big Data) or just want to know more about it, I invite you to find our dedicated white paper.
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