Leverage analytics for stronger retail customer intelligence
The volume, velocity and variety of information coming through modern big data strategies have forever transformed the meaning of retail customer intelligence, as businesses work to harness the power of analytics to drive decision-making across operations. Firms that have yet to embrace these technologies are likely to find themselves at a competitive disadvantage before long, as stronger availability of insights tends to translate to more prolific financial performances.
When customer intelligence reaches a pinnacle of functionality, utilization and integration, the business will be far more likely to enjoy speed and agility when trying to adjust to forthcoming and current trends in consumer preferences and beyond. This is why marketing departments in retail are becoming some of the most avid adopters and users of big data technology, reshaping what it means to put forth an intelligent, relevant brand image.
Revolutionizing retail advertising
Forbes recently listed several ways in which the use of big data will likely impact marketing strategies in 2015, beginning with the prospect of agile retargeting when certain advertising efforts have not come back with the expected returns. Essentially, businesses will be able to leverage the insights garnered from big data solutions to quickly and accurately retarget various marketing and branding efforts to work to the best advantage of the firm.
According to the news provider, personas will also likely become a more important matter in the realm of online marketing, as companies are now more capable of identifying certain types of shoppers and tailoring the content to them in a more effective fashion. This can lead to a greater level of loyalty, as well as enhanced visibility when current customers are happy enough to spread the word about their positive experiences with the firm.
Finally, the source noted that personalization and the consistent integration of online and offline marketing efforts will further reshape the advertising arena, driven by big data's availability.
More intelligence to come
When retailers take a comprehensive approach to customer intelligence strategies, marketing programs are far from being the only processes that can be improved. Rather, the types of information entering will often indicate which areas of the business are in need of improvement, as well as how the business can progress in such a way that most closely conforms to the demands of current and future clientele.