How Analyzing Big Data Can Lead To A Big Payoff For B2B Companies
Sharability. Reshare. Retweet. Likes. Inbound links. Page views. Social CRM. All of these digital metrics, and many more, when combined, can be described as “Big Data.” Big Data is more than the latest tech meme. When mined and measured by marketing specialists and then translated into meaningful information that can be used to move a business forward, Big Data can be a goldmine.
But first we have to knock big data down from its scary overlord perch in order to avoid analytics overload. Then we can view Big Data as a delicate gemstone, a collaborative tool to give business access to the most accurate information about its customers and to develop a targeted, data-driven, marketing strategy.
So let’s break down Big Data shall we.
An Engaged Community Can Drive Re/Branding
The best way for your brand to avoid stagnation is to ask yourself these questions:
- Does my brand generate organic buzz?
- Where can I reach my customers?
- What compelling messages are we delivering to our buyers?
- Are we giving them reasons to come back?
Finding out what brand characteristics resonate with consumers can diagnose your brand health and prescribe ways to strengthen the relationship with consumers therefore increasing brand loyalty and making customers less vulnerable to competitive marketing.
Example: Samsung Galaxy S4
When Samsung launched their Galaxy S4 smartphone, their keynote was all about services and hardware specs were left on the sideline. This strategy was a direct reflection of the data gathered from their consumers’ use of the previous model: S3 adopters cared more about the Samsung’s software prowess than the number of cores their devices had. To become what some are calling “the hottest smartphone company on the planet,” Samsung had to rethink their brand and evolve to become what their consumers expected it to be.
Content Marketing Builds Brand Equity
Word of mouse is the new word of mouth. Producing valued content is the best way to get consumer attention. By monitoring real time social media conversation it is possible to target affluent brand advocates and learn what will reinforce the brand image and make the public remember it. Creating a water cooler moment is a science, not a lottery.
Example: House of Cards only on Netflix
When Netflix produced the 13 episodes of House of Cards, the company delved into the information it gathers from its users in order to identify what type of content as well as who would be the lead actor its consumers would pick. Investing millions on the show was not a gamble, but a sound investment. Since its release February 1st 2013, House of Cards has become the most watched piece of content on the streaming service and has been the first show watched amongst the vast majority of new subscribers.
Engaging The Next Generation of Consumers/Brand Advocates Starts Now
In a world where social media is driven by consumers, not businesses, coping with change isn’t the problem. It’s our behavior. Online strategy needs to be tailored to our customers. The strategies to engage baby boomers are not efficient when it comes to engaging millennials. Building trust with customers is fundamental to business success. Observing trends and their evolution is key in optimizing the reach and success of a social marketing campaign among the target.
Example: NASA’S Curiosity
To gather public support in order to keep its government funding, NASA decided to learn about the online behavior of its future brand advocates and turn the launch of the Mars-bound probe Curiosity into an event engaging audiences across all platforms. From hyping and then live streaming the “7 minutes of terror” to posting tweets and broadcasting the new tune from Will.i.am from the surface of the red planet, Curiosity has had the same impact on the public perception of NASA as the Moon landing.
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