When it comes right down to it, the marketer’s job is and always will be casting a broad enough net to attract the most potential buyers. The more leads you manage to generate, the more buyers you end up with. That’s how companies increase revenue — no matter how you slice it and dice it with terms like “smarketing” and shifting focus to “align sales and marketing”.
Don’t Forget What Big Data Is … And Isn’t
In the end, the marketer is responsible for crafting campaigns and messages that are most attractive to potential buyers — lead generation — and the rest is, well, not marketing. Having said that, the data generated by the sales department, technical support, customer service, and accounts receivable are immensely helpful to the marketer. This data gives them deeper, more complete insight into exactly who those initial campaigns and messages need to reach, and exactly which of those campaigns and messages were most effective at doing so.
Big Data is Characterized by Its Volume, Variety & Velocity
Big data marketing is not different because there’s a lot of data. Frankly, marketers have always had a lot of data. What they haven’t had is the computational capabilities to store it all and process it collectively. The benefits of big data isn’t that there’s a lot of data. It’s that there are lots of different kinds of data from lots of different sources on lots and lots of different people.
Use Big Data Marketing to Anticipate Your Leads’ & Customers’ Actions
For example, if you had the entire history of your company’s sales receipts, you’d know a lot. But that’s just one side of the coin. Add to this all of your historical data on where customers first learned about your products, what competitors they considered, what factors they used to choose your product over theirs, what factors were used to choose a competitor’s products over yours, how much each customer is worth in lifetime value, and how to differentiate between those customers who spend just a little versus those who spend a ton — now you have something worthwhile.
Don’t ever get sucked into the illusion of “big data”. Remember, it’s the richness and deepness of the data that makes it valuable. That’s why data integration products are so popular among those using big data marketing techniques — because it’s a holistic picture of your customers that you can’t see otherwise.
Use Big Data Marketing to Anticipate: Predictive Analytics
With big data marketing, you can conduct more effective lead generation, because you know where you historically find your best B2B customers and you know what messages reach them most effectively. Big data experts call this predictive analytics. It’s the act of being able to predict what your marketing efforts will yield beforehand, based on what similar activities have produced in the past. Using big data, every marketing effort improves on the previous one, because it draws from and adds to all of the efforts that went before. You learn from your last campaign and that body of data contributes to bettering your next one, etc.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.