There is perhaps no industry that has taken to big data like a fish to water as much as marketing. It seems that every marketing tool from social media scheduling to content management solutions to email automation is making use of big data. The reason is very simple: the best advertising has always relied on measured data. Now, big data makes the acquisition and analysis of that data easier and cheaper.
Data-based marketing is not new. This type of marketing is called “direct response marketing” and has existed for over a century. In fact, John Caples’ classic Tested Advertising Methods was first published in 1932! In it, Caples expounded on the virtues of targeting specific buyers, measuring ads for conversions, using free reports as lead magnets, and retargeting previous buyers. All actions that we use today in digital marketing and sales. So it follows that marketing is a natural fit for big data.
Big data enables marketers to make every decision faster, cheaper, and with higher accuracy. Targeting a very specific type of buyer is easier thanks to ad tools inherent on every platform. Gone are the days where the only available information was throughSRDS.Now, marketers can use information available via keywords, competitor site analyses, their own website data, and various platforms to target buyers where they are. And prospects are more likely to cheaply self-identify thanks to lead magnets and email opt-ins that abound on the web.
Before the advent of big data and digital advertising, marketers had to put out an ad or send direct letters offering a report or offer. That initial campaign would cost thousands. Then, marketers would send a follow-up report and possibly call. This would take weeks (if not months) of time and cost tens of thousands of dollars. Data was slow to acquire and even slower to refine.
The internet and big data sped up this data gathering process.