Ever since its evolution, Big Data has been the biggest game-changing opportunity for the business world. From enterprises and healthcare to sales and marketing, there is not even a single sector that hasn’t been touched by Big Data. With organizations overwhelmed by the huge amount of data, effective data analytics is essential for the business growth, which helps in the right prediction of users’ behaviors. Millions of mobile apps exist today, thereby increasing the data associated with them. As Big Data plays a main role in customer value analytics, companies are using data-driven strategies to commit better sales. Let’s find out how Big Data will impact the future of sales and marketing.
Reasons to Use Big Data for Sales & Marketing
Big Data is making a great contribution to businesses by providing insights from the user data based on usage patterns and the behavior. Several Mobile App Development Companies are already making use of Big Data to develop apps for better brand recognition and marketing.
With the volumes of data generated every day, analytics has more control than ever before! The usage of Big Data helps in examining the data in real time enabling businesses to make quick decisions and act accordingly to transform the current marketing initiatives. Big Data tools like Hadoop reporting has helped companies to adjust the changes in the middle of an ongoing campaign using real-time analytics.
Successful companies implementing data-driven marketing are three times more likely to report informed decision-making than those who are not. With the analysis of Big Data, consumer interactions and engagements can be collected to form predictions for the future approach that is more customer-focused and responsive. Regular assessment of buyer personas can help in integrating and optimizing marketing efforts in the customer-centric era of today.
Better Pricing Decisions
Big Data analysis can help market analysts to study different market factors and collect the data along with company’s accounts statements to determine the optimal price of the product or service thereby maximizing their profit margin. The process involves retrospective analysis of consumer’s buying experience, statistical analysis to find the price elasticity of demand, business optimization considering the cost involved in manufacturing and determining the price point with maximum profits.
Personalize Customer Experience
Insights into User’s Emotions
As the technology advances, analytics are now able to understand human emotions expressed in the form to text, tweet, etc. and analyze them to act accordingly. Emotional intelligence has become an integral part of the conversation between the brands and users. Another field is sentiment analysis that can extract, interpret and bring together feelings, opinions or moods buried in emails, forms, surveys, internal files & reports. These data can be invaluable for businesses to improve the services, make better decisions and promote their brands the right way.
Gain Consumer Insights
No matter what services your business offers, the customer is the king and creating a strong healthy relationship is necessary. With the proper use of Big Data analytics, we can analyze and understand customers’ opinions/behaviors to create personalized strategies that will lead to successful business growth. Another method is to extract data from purchases, reviews & recommendations to analyze their opinions over services & products driving more conversions for their apps.
We can see from the points discussed above that Big Data plays a key role in not just making informed decisions but also in promoting the businesses with better sales and marketing. Any business could be a success if the proper analysis of data is done to keep in touch with the customer base and find out exactly what users think of their service offerings. Research conducted in 2015 says the total revenue from global data market in that year was around $22 billion, which was predicted to increase by 4-fold in next 4 years.
Make use of Big Data analytics in your business to optimize great marketing strategies and attain the success you wished. With several Big Data Analytics Software Companies making use of advanced technologies like chatbots and sentiment analytics, businesses can enhance their sales and marketing to achieve remarkable marketing goals. If you are looking for ways to leverage Big Data, get in touch with the right developers having a strong experience in Big Data and Analytics.