There was a time when marketing firms had to treat everyone like generic off-brand mac & cheese. Sure, they could make certain assumptions based upon average consumers, but real, personalized customer offers and promotions just weren't possible. That time, however, has passed. These days, brands are able to gather data about individual customers from before any sort of interaction even begins to take place. Through information sources such as web browsers, social media, surveys, customer reward programs, transaction data, etc., it is possible to gather massive amounts of data regarding the personal preferences of millions of potential customers.
Technologies like Apache Hadoop are enabling companies to more effectively manage and utilize this data to market to their target audiences.This, combined with basic demographic data, provides a wealth of information that can be used to reach and influence potential purchasers and clients. But despite these amazing new inroads, few companies are taking proper advantage of analytics to increase their business prospects. This may be because many marketers have trouble distilling actual, usable information from the maelstrom of raw numbers that are gathered during analysis. Four steps that can help: Comprehend, Act, Record and Repeat. Click to read more about each of these steps.