Big data has been instrumental in keeping the pandemic in check. Organizations and governments around the world are using big data technology to track the spread of Covid-19 and find better solutions to keep it in check.
However, big data will continue to affect our lives long after the pandemic has subsided. One of the most important changes big data has created is in the field of marketing.
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A growing number of companies are using data-driven marketing strategies to reach a larger customer base. They were inspired to make these changes in the face of the pandemic, but will continue to use them long after.
Big Data Will Continue Changing the Nature of Marketing Long After the Pandemic Ends
After the seemingly endless challenges of 2020, we’re starting to see light at the end of the pandemic tunnel. While much is still uncertain, businesses, especially those hardest hit by the effects of Covid-19, will need to re-focus and adapt their marketing strategies to the post-Covid era.
Fortunately, big data is making marketing a lot more effective. Savvy marketers will find more clever ways to use big data to reach customers.
Here are some of the fundamentals to put in place, especially when marketing budgets are severely constrained by the economic challenges of the past year.
Focus on your existing customers by using data analytics to understand them
If things have slid a little over the previous 12 months, now is the moment to place a laser-like focus on the customers you already have. The challenge is to re-engage with them so they once again become excited about your product and ready to buy again. It’s far more cost-effective to retain your existing customers than to recruit new ones, and your loyal following are in themselves, a positive influence on potential customers.
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Big data has made it a lot easier to reach existing customers more effectively. You can use data analytics tools to mine information about them and tailor your marketing strategies to improve your customer retention strategy.
Invest in social media ads and use AI to get more value out of them
With over 244 million active daily users in the USA & Canada, there’s no doubt that Facebook is the most popular social media platform, with no signs that use is diminishing. Of course, it makes sense to target your ad spend towards the platform which most appeals to the demographic you’re targeting. PPC (pay per click), is extremely flexible and cost-effective, but if you’re unsure of the most effective strategy, it’s worth partnering with one of the many expert PPC agencies who will carry out awesome analyses so you’ll generate maximum return on your investment.
There are a lot of ways that you can get a higher ROI from social media with big data technology. A growing number of marketers are investing in AI solutions to get laser targeted traffic from Facebook and other social media platforms.
Improve engagement online with data analytics
Given the fundamental shift in people’s shopping habits, there’s never been a better time to move every part of your business online. There are a wealth of powerful marketing tools available, most well within the reach of small business owners. Investing in good CRM (customer relationship management) software could really make you stand out from your competitors. For example, even something as basic as automating your email newsletters could free up your time for more creative activities.
Platforms such as LinkedIn and YouTube to host informative courses and webinars are an effective way to engage with your existing base and reach new potential customers at a time when they may still be reluctant to interact face-to-face.
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Unfortunately, too many companies struggle to realize a decent ROI with their online engagement strategies, because they don’t use data-driven approaches. Companies that use big data to learn more about their customers and other stakeholders can improve their models and bolster their branding.
Create exciting offers and deals
While email marketing and social media postings are effective, if you notice that the response to your efforts is diminishing, you’ll need to freshen up your approach. Creating exciting special deals for your loyal customers, as well as new ones, can help to maintain brand loyalty. Light, fun competitions that move away from a direct-sell, capture interest and provide a welcome distraction for customers tired of the relentless doom and gloom. Don’t be half-hearted with these initiatives. When you’re creating an offer – make it unmissable, and if you run a competition, make the prize something really attractive. The aim is to create an unmistakable buzz.
Data analytics is also proving to be very useful for new product development. Companies can use data analytics to learn more about trends and tailor products and deals to them.
The post-pandemic era is going to require a fresh approach from businesses. The winners will be those with a greater online presence and the savviest use of digital platforms as a way to stay connected with their customers.