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According to The Aberdeen Group, 2012 was when we really started living in the ‘Big Data’ world. It was one of the hottest technology terms bandied around last year.

But what is it today, and how can marketers use it to enhance lead generation and business?

Back in January, Marketing Week predicted that digital marketing would now just be called 'marketing.' This reflects the integration of digital and online into the practice of marketing - it's now become illogical to separate these channels from the topic of marketing.

The Aberdeen Group's recent report ‘Data Management for BI’ shows how the digital marketing revolution has driven data growth significantly in the past four years:

  • 29% year-over-year growth reported in December 2009.
  • 30% in February 2011.
  • 38% in January 2012.
  • 55% in December 2012. 

So what does this mean for you and your marketing team?

Marketing in the ‘Big Data’ World

What is ‘Big Data’?

‘Big Data’ refers to any data sets which are so large and complex they are difficult to manage using traditional methods and software. This includes anything from medical records and military surveillance to the results of the Large Hadron Collider experiments. 

What the ‘Big Data’ marketers are concerned with is mainly the digital content that’s being created at a phenomenal rate that you can use to gain insights into your customers.

Think YouTube videos, social media platforms, Facebook Likes, Instagram photos, instant poll results, LinkedIn group discussions... It's even been called 'the sexiest new marketing tool around'.

There’s now so much information available about customers that innovations are emerging to handle these disparate forms of data. It's imperative for marketers to understand these, in order to stay successful in the shifting digital landscape. 

It means that there are novel opportunities to deliver targeted customer experiences based on in-depth insights. This will enable businesses to develop relationships with customers and keep them engaged over the long term.

MarketingProfs recent seminar ‘How to Harness Big Data for Your B2B CRM Efforts’ revealed that: 

  • 90% of the world’s data has been created in the past two years.
  • 80% of this new-growth data is unstructured content, meaning it can’t be stored in rows and columns, such as emails, presentations, images, videos, social media posts and conversations, and PDFs.

Instead, organisations are storing this data as Blobs (Binary Large Objects) in relational databases and using it to gather intelligence about what people are interested in, what they’re saying about the companies whose products they have bought, and what they might do next. 

Combining these insights with the interactions that your email marketing results and advanced analytics reveal gives a fuller picture of customer interests than was possible before.

Five ways to stay ahead in the ‘Big Data’ world 

Tip one: make your digital marketing team a data driven one 

The amount of data now available can seem overwhelming. 

Econsultancy's recent  Online Measurement and Strategy Report 2013 found that many marketers were confused by the term, and it has yet to make a real impact on business goals for many. 

While the change to a more analytical role may seem daunting to many marketers, there are some simple steps to making the transition to a data driven team easier (thanks to Hubspot), which in summary are: 

  • Put the right analytics in place.
  • Assign specific metrics to individual marketing team members.
  • Establish benchmarks.
  • Set metrics-driven goals.
  • Have regular progress reports.
  • Back up marketing decisions with data.
  • Reward the highest achievers.
  • Use data to drive content creation.
  • Use A/B testing.
  • Share your data driven research across the business.

Tip two: be clear about what you want your Big Data to enable you to do

Without a goal in mind for what you want your data to help you achieve, you’ll be floundering in a world of analysis for no good reason.

Marketers’ top three priorities (according to Aberdeen Group) are:

  • Improving targeting of marketing offers (getting the right person, in the right channel, at the right time, with the right message) - 52%.
  • Aligning overall marketing activities with specific sales goals and objectives - 43%.
  • Gaining insight about the effectiveness of specific marketing campaigns and channels - 39%

Tip three: don’t just look back, look ahead

So you’ve got a handle on all the data, and have your processes in place. Now, to make the most of what it reveals about what your customers and prospects have done in the past, use it to predict what they’ll do in the future.

Using the knowledge you are gathering about when your customers make their purchase decisions makes marketing products or services to them when they want or need them much easier.

Tip four: integrate your data storage to gain holistic insights from structured and unstructured data

Harnessing the power of Big Data advanced analytics in a format that is easy to digest, analyse and share has been one of the biggest problems of the digital data explosion, but things are changing.

In 2011, the winner of the top prize at the Media Guardian Innovation Awards was Apache Hadoop, an open source, flexible storage framework that can handle both structured and unstructured files and share analysis from them.

Another new kid on the block is Origami Logic, which is a product built specifically for marketers that brings together big data analytics, data science and data visualisation technologies to deliver marketing insights. Integrated with a CRM system, these tools can work wonders. 

Tip five: remember that old-style marketing fundamentals remain the same, they are just delivered in a new way

The fundamentals of marketing remain the same, with the aims still being to build your brand, create awareness, and encourage trial, repeat purchase, preference and advocacy.

So make sure your team has an excellent grounding in the old ways and an appetite to deliver them in new ways.

Sam Davies

Published 9 July, 2013 by Sam Davies

Sam Davies is a founder and director of Zoober Digital and a contributor to Econsultancy. 

6 more posts from this author

Comments (9)

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Aumcore

Very interesting, data driven and fact based post, all the five tips would be very helpful for digital marketers. But in I don't think so that we should simply called digital marketing as marketing. In my opinion yes digital marketing is sub domain of marketing & some fundamentals is also applicable on digital marketing industry but digital marketing is very much different from marketing.

about 3 years ago

Sam Davies

Sam Davies, Director at samtdavies consultingSmall Business Multi-user

Thanks for your comments. While I agree that there is still very much a place for non-digital forms of marketing across the board, I think the point is that the digital aspect has become important even within many of these, particularly when it comes to reporting, analysing, or even propagation - let's not forget that a popular TV ad these days can expect to rack up views on YouTube, boosting its reach digitally.

about 3 years ago

Shoplet Promos

Shoplet Promos, Digital Marketing at Shoplet Promos

Data is always scary but it's always useful in context. Metrics, measurements, and forecasts are infinitely helpful when making decisions and looking back on past decisions. That cannot be overstated.

Great article - thanks, Sam!

about 3 years ago

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Cliff

A problem with companies trying to mine the data is that if the employees gets no benefits for the extra work, they might provide inaccurate data, which can lead to miscalculation and generate even greater loss. So one thing in mind is to be data driven, but at the same time assess the data collected.

about 3 years ago

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Phil Duncan

Very interesting and informative reading, thanks! The term 'Big Data' is scary for marketers, some of whom are still struggling with getting their website measurement together.

I'll be checking out Apache Hadoop and Origami Logic, our legacy system is a beast and makes hard work of everything we try to do, big data wise!

about 3 years ago

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Mark van Rijmenam

Great article as it is good to see for marketing directors that there are ample opportunities within marketing with big data, think only the massive opportunities big data has for PR, after all an important aspect of marketing. Read more about it here: http://bit.ly/1bkfOmK

about 3 years ago

Sam Davies

Sam Davies, Director at samtdavies consultingSmall Business Multi-user

Hey everyone, thank you for stopping by and sharing your opinions, I appreciate it. As I mentioned in the blog post, Big Data advanced analytics in a format that is easy to digest, analyse and share has been one of the biggest problems of the digital data explosion which is why I suggest marketers integrate data storage to gain holistic insights from structured and unstructured data. This way Big Data becomes less intimidating and easier to tackle.

about 3 years ago

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Gaelen O'Connell, Co-founder at Social Scouters

Hi Sam,

Have you read Lisa Arthur's "Big Data Marketing" yet? Link: http://bit.ly/Big_Data_Mktg. It covers 5 essential steps to creating a data-driven marketing team. Since they're related to what you write above, I thought you might be interested in doing a follow up post on the 5 steps in more detail? Let me know, I'd be happy to send you a review copy.

Regards,
Gaelen

almost 3 years ago

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ben lovie, marketing director at openroad auto group

Hi all,
I too believe this is an important area of future growth and customer understanding. The importance of using the right tools and testing different customer data collection methodologies is important to ensure good reliable data is collected.

almost 3 years ago

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