There's only so much you can talk about big data and customer analytics until you start to ask yourself "what's in it for me?" We know what big data can do if used effectively, but it may not be entirely clear how incorporating appropriate marketing analytics can improve the bottom line. Until now.
Learn from Top Performers
There’s a lot we can learn about the future of marketing analytics by looking at what top performers are doing. Companies that employ big data strategies to make smarter decisions have a few things in common - they put big data in the middle of their marketing decisions, and by doing such, improve their ROI by 15 to 20 percent. Additionally, they improve productivity by 5 to 6 percent.
How to Get From Here to There
We'd all like to be a top performer. We'd all like to improve productivity and boost our ROI, but we're not going to make that happen unless we make some key changes to the way we work. Best practices dictate that by adding automated engagement and actionable analytics into your marketing mix, you’re better prepared to meet the demands of the customer and predict future behavior. However, success also requires a new organizational mindset in which using big data to make marketing decisions is a priority and not an afterthought.
But it's more than just going through the motions, it's about putting data into action. If you are able to build stronger relationships with your customers, create better messaging, and access real-time information, you can improve the customer experience, as well as build a brighter future. Big data can be scary and overwhelming, but if you're able to change your company mindset to embrace its potential, it can improve more than your bottom line.