BigData and Customer Experience: Happy Together
By Isabel F. Peñuelas on Sep 12, 2012
The two big buzzes of the year may lay closer than it appears. Both concepts intersect at various points:
BigData and Return of Investment of Marketing Campaigns
On a recent post Big Data Is The Future Of Marketing Jeff Dachis explains very clearly how “Big data analytics finally allows marketers to identify, measure, and manage what is positively impacting their Brand”. Regression analysis applied to big data volumes coming from social media will substitute the failed attempts to justify marketing investments on social media in terms of followers and likes, he continues, “the measurement models applied by marketers on TV Campaigns don´t work on social”, we need to study the data with fresh eyes and maybe then we will start understanding and measuring brand engagemet.
Social CRM and BigData
The real value of Social CRM start by analyzing mass of big data from social media in order of applying social intelligence techniques that allow us to classify new customer niches and communities and define appropriated strategies to contact potential customers.
Gartner Says that the Market for Social CRM is on pace to surpass $1 Billion in Revenue by Year-End 2012 but in words of Zach Hofer-Shall, Analyst at Forrester Research “Social customer relationship management is hard” (The Social CRM Arms Race Heats ). To succeed brands need three things: Investing in new social tools, investing in consultancy and investing in infrastructure for massive data storage and analysis. Neither CeX or BigData are easy and cheap wins. But what are the customer benefits of such investments?
Big Data and Brand Engagement
Time is the most valuable asset of todays consumers: tired of information overload, exhausted by the terabytes of offering, anxious because of not having the same fast multichannel experience with their services’ marketers or preferred goods providers than the one they found on their social media. Yes, I know you have read this before- me too. But is real. The motto of the Customer Experience philosophy of providing a consistent experience through multiple touchpoints that makes the relationship customer/brand easier and valuable finds it basis on understanding customer/s preferences and context for which BigData analysis is another imperative.
In summary, I believe that using BigData Analysis in combination with appropriated CeX strategies and technologies is a promising direction for achieving: efficiency and marketing cost-savings; growing the customer base; and increasing customer conversion and retention. In a world: The Direction of Future Marketing.