Tuesday, March 31, 2015

Big Data and the Evolving Skill Set of Marketers

With the advent of social media and big data analytics, an amazing amount of information has now been amassed on most consumers. The trick is to know how to use that data to achieve organizational goals. Marketers' standing in organizations has the potential to increase significantly if they are able to successfully tap into this information to achieve these organizational goals. This starts with understanding who an organization's best customers are - those who are the most loyal and the most profitable and who deliver the largest lifetime value. This requires analysis of sales and profitability data against demographic, psychographic, geographic and other customer data to identify individuals and highly targeted market segments who promise the greatest ROI for the organization in question. Big data analytics can also identify other less intuitive but no less predictive indicators of high loyalty, profitability and lifetime value. 

The marketer must then know how to tap into a wide variety of databases to identify these people and send targeted, personalized messages, offers and other invitations to them. 

If the marketer is able to connect all of these dots, he or she is certain to become invaluable to his or her organization.

No comments:

Post a Comment