Business Essentials Official Blog


Harnessing the Power of Big Data

Big Data is one of those buzz words that every marketer seems to be talking about these days. We know that Big Data is useful, but the question remains, how can we harness and leverage the power that big data holds? Big Data is a way for businesses of all sizes to use massive amounts of gathered information to gain insights into their customers, employees, and products.

Big Data enables businesses to understand both their current and potential customers much better than in the past. Big Data Analyzing and organizing this data allows a marketer to engage in more meaningful and useful conversations due to this deeper understanding of the customer.

The BIG problem with Big Data is that many marketers and sales professionals do not work together to house and organize this data to make it beneficial for everyone. Data is integral for both the sales and marketing processes, especially when it comes to identifying leads, as well as pertinent to analyzing both current and potential customers’ behaviors and activities.

The first key to making use of the data you collect is organization. Organizing a lot of data about a company's leads and clients can be daunting, if it isn't organized properly.  There need to be ways that sales and marketing management can work together to identify the traits that are most valuable to them.  

Lead scoring, identifying the actions and demographic traits of contacts that are most likely to provide value to the organization, is one key way to accomplish this.  For example, if someone visits a particular website, takes action on an email, or fills out a form, setting up lead scoring rules that identify that contact, as a key, high-value contact will increase the efficiency and likelihood of closing that contact with a sale.  Marketing automation ties directly in to this, as well, so that rules can be set up to automatically take action when a contact triggers certain criteria. This not only streamlines the sales process, but lets the marketers know what channels are effective in pouring leads into the top of the sales funnel.

The name of the game is making it easy to identify those key contacts, so the sales team can take action while the proverbial iron is hot.  Custom lead scoring and marketing automation are the two most powerful tools available today to bring companies to the next level using big data.

So, what are our 5 pieces of advice to grabbing this Big Data by the horns?

1. Do not get overwhelmed with the term Big Data. Data gathering has always existed; we are just able to acquire a lot more of it these days. 

2. Identify the primary goals you would like to accomplish with the data you collect.

3. Organize all data that you collect, including social media engagements, reviews, webinar signups, page views, clicks, etc.

4. Integrate and automate. Integrate the gathered information with your CRM. This way all of the data that you collect is organized efficiently and associated with the contacts in your CRM. Automated processes ensure consistency, as it lightens your load when a contact behaves or acts in a certain way.

5. Only use the data that aligns with your goals. With so much data, there is no way that we, as marketers and small business owners, can take it all in. Use what is going to affect your bottom line.

Ok I lied- there are six. The last and final piece of advice is to never be afraid to experiment. Experimentation is key. Try new methods, change up your automation. Find what works best for YOUR business and what data is useful for growing your business.

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