Marketing technology companies continue to provide reliable evidence that the analytical insights gained through big data will become an important factor for organizations in the near future.
What’s wrong with this statistic: the amount of data collected by companies is expected to increase by 650% in the next five years. Such statistics make us unable to ignore what profit “big data marketing” can bring to the enterprise. This is the key to long-term sales growth.
In the coming years, the ever-increasing technical and analytical capabilities to manage and use this unprecedented amount of enterprise data will continue to reach all new levels. As the name implies, big data will transform enterprises from managing and observing “data transactions” to also managing and observing “data interactions.”
What does it mean? This means that companies will be able to assess the data points needed, which are critical to understanding when and why consumers buy. Due to the rapid development of processing power, data storage and tracking analysis, and integration with updates, powerful distribution and communication channels, this extraordinary change in technology continues to develop at a rapid rate.
In order for the company to truly embrace big data and do what the sales team can do around this concept, a multi-channel distributed marketing platform is needed to centralize all brand promotional materials, content, and marketing efforts into the organization. More importantly, due to the continuous development of communication and distribution channels, distributed marketing technology helps optimize the distribution of content on various forms of media, including email, mobile, microsites, and social media. Organizations that have not implemented such technologies will have difficulty collecting the data points necessary to achieve successful profitability and will be at a competitive disadvantage in the near future.
These facts are hardly controversial. The industry has witnessed an annual growth of 40% in marketing technology spending, and leading analysts also predict that by the end of 2017, CMO spending on technology will exceed CIO.
Big data is still regarded as a buzzword. It is still not fully defined and accepted by all marketers or industry experts. However, there is continued evidence that big data is not going everywhere. I recently read an article about other research that Lattice Engines published on this topic this summer. Their survey showed that 89% of executives believed that sales representatives would miss opportunities because they could not keep up with information about customers and potential customers, and also pointed out that 90% of executives believed that if insights were automated and passed through a system Delivery will have huge benefits for sales.
This brings me back to my belief that the secret of future marketers ’success will be very simple: larger, richer data sets + real-time analysis + personalized multi-channel marketing = higher return on investment.