Revenue Optimization of Big Data: You Don’t Need a Shrink to Optimize Your Revenue
July 22, 2013
Bloomberg Businessweek put up a great article that underlined the lack of personalization in Big Data. I could not agree more wholeheartedly. But I can’t say the same about the need to supplant data technology with social sciences. Yes, understanding human behavior is a vital task for marketers, but brands don’t need to hire a sociologist or psychologist to tell them how to sell. That simply won’t work at scale. What brands need is to invest in better analytics tools and automation technology to realize the full revenue optimization opportunities of Big Data.
By itself, Big Data is stagnant and holds no real strategic value. However, Big Data does have the information to “get” people; marketers are simply being stopped before they get to the point where that data is made actionable. Marketers are overloaded with information and need a way to organize their data into results-driving communications. I’ll say it again: invest in marketing automation technology.
Forget antiquated segmentation. Forget irrelevant demographic slices and disorganized audience categories. Forget all of that and simply listen. The information is laid out in front of all marketers; just pay attention. Understand that online behaviors translate to offline personalities. Because our lives are increasingly entwined with the online web, virtual and reality have become one. And advanced technology like revenue performance management can be enhanced by listening to the story behind each click.
With automation provided by our Smart Data technology, Marigold Engage by Sailthru, able to trace a unique sketch of each consumer based on his or her digital behaviors. We create tangible results by creating individual user profiles out of raw data. This technology is changing the way brands communicate with their customers by using large data sets as the starting point and fusing automated interpretative skills for personalized engagement across all digital channels.
For additional tips on revenue optimization opportunities of Big Data or for expert advice on your marketing strategies, contact us today!
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