How Big Data Transforms Marketing’s Impact on Sales Growth. Popular Today in Business: All Popular Articles Embarking on a Journey to Excellence Using Big Data for Sales Guided by analytical insights about their customers, sales reps make superior decisions on which accounts to target and how to engage with purchase decision-makers.
Www.accenture.com/SiteCollectionDocuments/PDF/Accenture_Customer_Analytics_Cutting_a_New_Path_to_Growth_and_High_Performance.pdf. How Do You Use Analytics Tools To Enhance Sales/Marketing? - Insight Community Case. Working in telco I have found the most effective uses for analytics have been: Lifetime value; and Product maintenance; and Workforce management.
Lifetime value Using analytics we have been able to assign a lifetime value to each customer. The value is created from 30 separate data points that identify how much each customer means to the business in terms of inbound revenue and maintenance costs. Each product a member has across the enterprise, their usage pattern, credit history and potential to take up new products are all positive points towards their score. The number of touch points are also calculated for example how many times a customer phones in, number of outbound calls, number of billing enquiries (all channels including IVR).
The full picture of revenue in and spend out is then balanced to give the customer a score. By example: A customer is 1 month from completing their 24 month contract. Product Maintenance The revenue generated is a key performance indicator. 2013 Marketing Budgets Rising Again for High-Tech Providers. Richard Fouts Research Vice President 2 years at Gartner 23 years IT industry Richard Fouts guides digital marketers on best practices for evaluating and deploying emerging digital marketing techniques to ensure marketers make fully informed decisions about their marketing investments.
With extensive experience in brand management and marketing communications ... Read Full Bio Coverage Areas: by Richard Fouts | September 10, 2012 | 6 Comments Gartner’s annual marketing budget research with high-tech providers found increased budgets in every type of provider, in every geography, and every size of provider. Conducted in August, 2012 with 383 providers (hardware, software, IT professional services, communications services and semiconductor companies) in the U.S., Europe and Asia Pacific, highlights of the research include: Big Data: An Introduction for Search Marketers. Multi-channel marketing & big data with Experian. Big Data and the Marketing Organization. Stephanie Miller | October 1, 2012 | 2 Comments inShare22 How to make sure you're using all the data available to make meaningful connections with customers when they are in market to receive the message.
How would you like to increase operating margins by 60 percent? Or add millions in new value from existing and new customers? Yes, me too. Unfortunately, we are drowning in data. Marketing automation vendors are adding a lot of functionality to help marketers address this data explosion. Helpful automation technology will condense the data into actionable "views" so that you can use it to make decisions about future messaging.
However, this data management challenge is not just a technology challenge. To this column's opening question, McKinsey believes these data experts could capture more than $300 billion in new value annually for the U.S. healthcare industry; and they could increase retailers' operating margins by up to 60 percent with better analysis of large data sets. Is 'Big Data' Marketing's Next Frontier? Big data is everywhere, both literally and figuratively.
On the figurative side, it’s hard to escape the hype about big data, the term appearing in headlines of major national newspapers and business publications (most recently the cover of the "Harvard Business Review"). But the hype is happening for a reason, and that’s the amount of data we’re all collectively generating in our off- and on-line worlds. Every two days we generate as much data as 350,000 times the entire printed catalogue in the U.S. Library of Congress. That includes data generated by 4.8 trillion online ad impressions in 2011 alone, and the 294 billion emails sent every day. Marketers Flunk the Big Data Test - Patrick Spenner and Anna Bird. By Patrick Spenner and Anna Bird | 8:00 AM August 16, 2012 The big-data explosion is driving a shift away from gut-based decision making.
Marketing in particular is feeling the pressure to embrace new data-driven customer intelligence capabilities. No wonder a strong appetite for data is one of the most sought-after qualities in new marketers. And yet, a recent CEB study of nearly 800 marketers at Fortune 1000 companies found the vast majority of marketers still rely too much on intuition — while the few who do use data aggressively for the most part do it badly. Here are our key findings: Big Data Is The Future Of Marketing. Why This Big Data Company May Be The Next Omniture. Big Data Can Make a Big Difference in Marketing. Here’s a number you don’t hear every day: a quintillion.
That’s a 1 followed by 18 zeros; a billion billion; a million trillion. As immense as a quintillion is, IBM (IBM)estimates that each day—every day—the world creates 2.5 quintillion bytes of new data. By comparison, all of the earth’s oceans contain 352 quintillion gallons of water; if bytes were buckets, it would only take about 20 weeks of information gathering to fill the seas. For businesses, managing the ocean of data is frustrating. An Oracle (ORCL)study released in July of more than 300 executives in the U.S. and Canada indicated 93 percent believe they’re losing revenue opportunities by not being able to leverage the information available to them. Www.iab.net/media/file/2012-BRITE-NYAMA-Marketing-ROI-Study.pdf. Big data: Embracing the elephant in the room. The sheer mass of information available about consumers on the web is enough to scare marketers into ignoring it.
But for those brave enough to confront and harness big data, there are large rewards. Big data can be a big problem for brands. Information from large, complex data sets - weblogs, social media, smartphone analytics and even medical records - is difficult for brands to capture, manage and process within traditional database systems.
But big data is also the next frontier for innovation, competitive advantage and productivity, according to a research report from the McKinsey Global Institute. It warns that too many companies are missing the opportunities because of a lack of data management expertise.