Big data, especially collected and analyzed in real-time, has leveled the playing field for small and large businesses vis-a-vis marketing. Real-time data done right provides business intelligence which you can apply to solve problems quickly. This article explores four ways that real-time data can affect your marketing strategy.
Artificial intelligence chat bots and social media provide two options for problem-solving on the fly. Customers can contact your company directly via chatbot, social media posts, or instant messaging. These options enable you to respond immediately and solve their problems. You can quickly ingratiate yourself to customers with fast problem-solving. Many types of issues lend themselves to these communication forms including billing, payments, software access, login problems, and more.
Big data from point-of-sales receipts, social media, surveys, and consumer reviews let you know whether you’re meeting customer expectations. Meeting and exceeding customer expectations is one of the central markers of a succeeding business. Studying that data to make better marketing decisions can increase your bottom line. The customer data you collect provides you with the feedback necessary to improve your product and your marketing. For example, it can tell you whether you should use the word “pop” or “soda” to refer to your cola drink in regional ads.
Your real-time data helps you present yourself on social media at the right time with the right words. The first step in social media marketing is choosing which social media to use. Your data tells you whether your customers prefer Facebook, Pinterest, Twitter, or another platform. That’s the platform you should use. Your data also tells you when the majority of your customers actively use the social media platform. That tells you when you should post.
It can enhance your ability to find and target new customers. By tracking social media filters and hashtags, you can discover potential customers. Tracking information related to your products or services, you learn who buys what you produce. This provides you an opportunity to court them as customers. The same information lets you know what problems your competitor’s customers have with their products.
Real-time marketing data helps you determine whether you’re meeting customer expectations and helps you identify new customers. It also enables you to address problems in real-time and market yourself on the right social media at the right times.