Big data is transforming marketing


Big data is transforming marketing

It’s expensive to acquire customers

Increasing print and media costs, shifting customer behavior, the rise of social media and growing privacy concerns are all making it more difficult and expensive to target, acquire and retain customers.
 

Savvy firms that want to grow profitably need to look beyond traditional marketing efforts.
 

The roles of the CIO and CMO are converging

Firms increasingly demand a real-time, 360-degree view of their prospects and customers. In support of this, CIOs are increasingly looking for greater insights and CMOs are increasingly in search of greater analytical grounding.
 

Firms serious about growth encourage and support the partnership between these two roles.
 

Big data is accelerating the pace of change

Big data is real, and it is here to stay. Companies that are able to harness the power of big data outperform those who fail to take action.
 

Big data is transforming data analysis from a backward-looking statistical analysis to understand what happened into a forward-looking predictive analysis to forecast what will occur.
 

A more holistic approach to marketing is required

Marketing is transforming from a service group into a strategic function that offers a high-ROI investment opportunity for savvy players.
 

In order to exploit these opportunities, firms need to ensure that every marketing effort is designed and implemented with the appropriate metrics and with input across the organization.
 

About the Kabardian Group: We help clients achieve profitable growth. Short, simple and to the point. Our clients include companies large and small and at every stage of their development, including start-ups. www.kabardian.com