Big Data : Predictive Analysis for Successful Internet Marketing
In the past few years internet industry has seen an exponential growth, in terms of usage and penetration. The average time spent by a user in a week on internet has increased from 5.2 hours to 19.6 hours. And, this happened in the period of just 10 years. And, these figures are expected to grow in coming years as telecom industry is deploying infrastructure to enhance the usage and reach. And leveraging the fast penetration of WWW into our lives, real life businesses are going digital. Say, you need a box of cookies? Go, shop online. You need a tutorial for learning PHP? Go, sign up for webinar online. Music? register online. We eat, sleep and almost do everything online. And, this is from where digital agencies make money. Everybody knows that Internet Marketing in not a new thing anymore. But yes, the way it is evolving is worth keeping an eye.
While browsing over internet, we encounter random ads flashing here and there. These ads may or may not interest us. For instance, you surf a few clothing sites, window shopped some products and logs off. Next day, you login to some other random site and see some ads here and there. Stop! watch closely, these are the ads from the sites which you had surfed yesterday or may be the products are also same. And this happens quite often, whether you clear your cache and cookies, logs out from your browser accounts, clears history. This is the magic of Big Data. Yes, Big Data. Technically speaking, The term often refers simply to the use of predictive analytics or other certain advanced methods to extract value from data, and seldom to a particular size of data set. Accuracy in big data may lead to more confident decision making. And better decisions can mean greater operational efficiency, cost reductions and reduced risk.
How Big Data is helping Internet Marketers?
In this big world of internet, it is very important to understand users’ behavior. If a buyer is looking for blue jersey , there is no use of bombarding him with yellow jersey designs. He will not buy it at any cost. This is where big data would help.
Companies offer big data analysis service creates online profile of your targeted set of users (say a few million users). These profiles analysed algorithmically to understand their behavior, demands, surfing patterns, preferred time of surfing and other things using cookies, history, and other tracking methods. This analysis helps the marketers to offer product more of an individual’s choice. This increase the chances of potential buyer to convert into actual buyer.
In practicality, this process is much complex than told here.
How Marketing techniques are being altered?
There was a time when whole marketing strategy was based on keywords. Targeting right keywords, keyword oriented ad campaigns, keyword optimization and many more things; but now things have changed. Before investing into paid marketing campaigns like Adwords and Facebook ads, it is imperative to know the demographics of targeted audience. Peeping into big data analysis would help you to craft a paid campaign that motivates him to be your client.
In internet marketing, the term re-targeting has many meanings. Here, we are talking about the re-targeting the customers who drop off without converting. Analyzing the choices of the visitors, you can create an organized strategy and present them with options having low prices and introducing them to new products. This strategy is effective as it fetches data from your site and gives a deep insight of individual’s behaviour. Further to analysis, it is very important for the marketers to make a rock solid decision that will impact their ROI significantly.
Competition analysis has always been a strongest strategy of a successful marketing campaign. There is nothing illegitimate in peeping what your competitor is offering. Using big data intelligently to implement this strategy will help you bridging the gap between demand and supply for which your target is visiting to your competitor’s site.
Not every client is same, not every demand is same. Thus utilizing the big data for altering the workflows and response. This alteration further provides you more data to analyze and hence, many folds of user behavior can be examined. This helps the marketer to quickly adapt the predictive models.
Big Data looks like a magical tool. But internet marketers have to understand that results ROI doesn’t change dramatically. Along with human strategies and decisions from intelligent minds, big data can indeed do wonders for your business.