Big Data -based Marketing Analytics will give you concrete data-driven answers to your most important questions.
What is the optimum price that I can charge my customer?
Determining the right price at which you will maximize your revenue and profit is always a challenging task. Big data analytics makes it far easier for you to arrive at an optimum price. Rather than make your prices static, you can set dynamic prices depending on various factors like buyer behavior, seasonality, time of the day, demand and supply trends, external events and more.
Which leads should I spend more time on?
How useful would it be if you could know which leads are far more likely to convert. Big data analytics helps you to determine that with a far higher degree of certainty. You could focus your marketing or sales efforts on those particular leads and stop wasting time on leads that don’t matter.
What do my prospects really want? How much do you know about what your prospects – your target segment really wants?
You could create highly targeted messages and drive more sales. You could also use that information for product innovation based on actual needs and desires.
You might be using surveys, but they often give you an incomplete or an incorrect picture. On the other hand, big data analytics, rather than asking questions, actually observes prospect behaviour – from web activity, social media activity, actions on your own platforms and various other sources. Accordingly you get far superior insights about what will truly resonate with your prospects.
Which marketing channels are driving the most revenue?
How challenging is it to determine which channels deliver the highest ROI? The answer isn’t always easy and straightforward. By leveraging the power of big data, you can have a far clearer assessment of what channels are working out. You can focus on the channels that really matter and phase out the ones which have a lower ROI.
How can I improve my campaign performance?
You campaign performance depends on a number of things – superior segmentation so that you can deliver highly targeted campaigns, choosing the right campaigns and the right channels, choosing the right pricing and other factors. With Big data analytics, you can get excellent insighta about how to combine these data sources to create better campaigns.
Marketing Analytics Techniques
Determines optimum prices at which you can maximize your revenue
Identifies the right customers to focus your marketing efforts on
Social Media Listening
Understand your customers and prospects better and improve products and support
Identify patterns that indicate customer dissatisfaction and take action to retain your customers