Healthy data powers healthy marketing
Updated: Jun 8, 2022
The global big data market powered by big data analytics trends attained US$208 billion in 2022. It's no secret that in the era of data and information, data powers almost everything we do, and it's crucial for marketing.
“Without big data analytics, companies are blind and deaf, wandering out onto the Web like deer on a freeway.”
Author Geoffrey Moore tweeted that back in 2012 and well, he wasn't wrong. 10 years later and we're 3 years into a global pandemic, successful companies have found their eyes and ears and claiming their place in the big world wide web, more like a sharks in the ocean that deer on a freeway.
But what does it take to climb the food chain? Hunting out the smaller fish and making it known you're here to stay is harder than it seems. Now that big data is universally accepted in almost every area, not least of all in marketing, it's crucial to not only hunt out the smaller fish but the right, hungry fish.
A lead is only valuable if you have the right bait on the hook.
The successful marketers behind these companies know how to hunt out the schools of smaller fish, shrimp, and krill, whatever their liking is, and manipulate these schools of fish to become their most prized possessions: customers.
However, in the era of data and information overload, the hunt is not as easy as it seems.
Whether you are trying to improve customer loyalty and engagement, optimise your performance, or make important business decisions, it's important to find customers who are already searching for you. Healthy marketing knows this, but data alone won’t effectively meet this fundamental business goals. The only way to achieve this and make daily decisions is by using high-quality, trusted data - healthy data.
"Leveraging cloud technology with filters and processes to sift through vast amounts of data is certainly right up there with innovative solutions, but first, you need to go searching in the right place to start with."
The rapid development of technology comes with many different boats and nets to cast out wide in the hunt for healthy data. It can be a tough challenge to tackle, especially for sole traders and small businesses. Fortunately, there are innovative solutions out there to get your teeth into clean, reliable, and compliant data. Leveraging cloud technology with filters and processes to sift through vast amounts of data is certainly right up there with innovative solutions, but first, you need to go searching in the right place to start with.
Where do I find healthy data?
Look at data suppliers’ expertise, policies, and reputation. Healthy data exists where the experts are. They’ve been in the industry for years, they know data, and they know what businesses need. They’ve evolved with the digital transformation and most importantly - they’re passionate. Those who are passionate about data only want to provide clean, compliant and useful data.
How do I know if my data is healthy?
Other than being clean, compliant, and regulatory, healthy data provides you with information to make business decisions. Data that is useless will only compromise your business and delay innovative solutions. You need data that you can utilise immediately and effectively and that generates healthy leads to provide a return on your investment.
Three types of data to look for:
Customer data helps marketers understand their target audience. The obvious data of this type are facts like names, email addresses, purchase histories, and web searches. Just as important, if not more so, are indications of your audience’s attitudes that may be gathered from social media activity, surveys, and online communities.
Financial data helps you measure performance and operate more efficiently. Your organization’s sales and marketing statistics, costs, and margins fall into this category. Competitors’ financial data such as pricing can also be included in this category.
Operational data relates to business processes. It may relate to shipping and logistics, customer relationship management systems, or feedback from hardware sensors and other sources. Analysis of this data can lead to improved performance and reduced costs