Louis FoongThis week’s infographic highlights how big data brings in big revenue. Companies that invest in it outperform competitors by a large margin. Every minute, Amazon generates another $ 80k in sales and Google garners over two million search queries. Those aren’t small numbers. Every day, people create 23 billion gigabytes of new data. So how do we use that information to help identify potential future customers?
Effective lead generation takes both quantity and quality into account. Casting a wide net will take you so far, but sophisticated targeting technologies can give your sales an extra boost. As this infographic from DataMentors explains, Big Data is a key piece of the modern marketing puzzle.
There are three different categories of Big Data: Foundational, Onboarded, and Fast.
- Foundational Data is internal data, combined with demographic, firmographic and speciality data used to identify your customers.
- Onboarded Data are the online identities created by your customers which allow you to target them based on their own self-identified interests, tweets, and statuses.
- Fast Data is their real-time behaviour – they may have recently been looking up reviews for a new smartphone or just had a baby. Combining Foundational Data with the clues contained in Onboarded and Fast Data makes it easier to identify in-market customers who are ready and willing to buy.
Data service companies mine the internet for data that is useful to marketers. A search engine query or status update about a product or service can be a helpful source of data, likewise surveys or polls posted on public community pages. When it comes to this type of research, your company (and bottom line) can benefit from letting a data service company take care of the heavy lifting. The potential gains could be enormous. So how has Big Data impacted your marketing practices?
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