By better informing marketers, data analytics helps target campaigns and prospects, resulting in bigger profits.
We are living through a data-led revolution in marketing. From the early days of Tesco’s Clubcard in the 1990s through to today’s data-led companies such as Amazon, Uber and Airbnb, data has changed from being a useful addition to become the starting point of almost every marketing strategy.
“Big data is highly important to today’s marketing department,” says Paul Davies, chief marketing officer (CMO) at Microsoft UK. “Nowadays, consumers are digitally savvy and platform agnostic – they are elusive shape-shifters who make today’s marketing certainty tomorrow’s fallacy and there’s no such thing anymore as a predictable audience for anybody’s advertising campaign.
“However, since we now have the technology to analyse the fragmentation of the consumer landscape and track these shape-shifting customers, we can use big data to create insights for precision marketing and a tailored customer experience.
“This is the age of the all-digital customer and it is dramatically changing how we connect with them”“When it comes to providing these tailored experiences, big data is critical. Gut feelings are great and power a lot of creativity. But these need to be paired with data-driven insights for a company to be able to create the experience its customers want, as opposed to what the CMO thinks they want.”
What is more, big data is getting bigger. As Mark Moebius, vice president of marketing at Dell in Europe, the Middle East and Africa (EMEA), says: “No less than 90 per cent of all the data in the world has been generated over the last two years. All of us, as potential customers, leave footprints everywhere. This is the age of the all-digital customer and it is dramatically changing how we connect with them.”
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