Most businesses today are failing to turn big data into valuable customer insights and new value. That’s because most businesses have no clear idea of who owns the customer, and who’s in charge. In business, here’s the bottom line value of big data: to figure out why someone is willing to take their limited amount of money and purchase your products or services, and what will prompt them do it more in the future.
Want your company to be the leader in your industry? I’ll tell you how. For clues, look at business information leaders such as Oracle, Teradata and SAP, the dominant industry leaders specializing in business information. They’re investing a lot of time and money in developing and promoting products focusing on marketing data.
Ancient alchemists sought to turn ordinary metals into precious gold. Today, marketers on the leading edge of data-driven strategies are doing almost exactly that – turning data into gold and unprecedented business growth. Data is “the new gold of our economy,” according to the Direct Marketing Association. Indeed your data assets – and the secrets within – are virtually a license to print money.
Business today is changing so rapidly, that before companies even begin to become proficient at a new facet of business, industry leaders have already moved on. For marketers stuck on data-driven marketing, it’s essential that you shift your focus now to the next waves of marketing: insight-driven marketing and innovation-driven marketing. Each is progressively more valuable than the last.
The marketing industry is on fire – and not in a good way. The industry is in ever-accelerating flux. With every passing day, it’s seems increasingly difficult to reach customers – and indeed customers have taken over control of marketing. 2015-2016 will see wild, unprecedented changes in data-driven marketing. You can, however, survive and thrive when you heed these top eight 2015 trends in data-driven marketing.
In the information age, the most valuable asset for business is information. And in your business, data is your diamond mine. This data can be everywhere, from real-time customer interactions, to underutilized dark data waiting to see the light of day.