Big Data, Big Hype? How To Harness It

You need a full-blown process, team, partner to do it right. All aspects are critical.

 

Interest in “Big Data” is exploding. According to Google Insights, relative search volume for the term big data has increased steadily over the past year (see chart below). The high point was last Thursday when President Obama made his proclamation about big data.

 

There are lots of players in the mix, from storage and processing to boutique analytics firms and automation partners like Marketo.

Data analytics has been democratized. The access to and ability to process Big Data has opened up a big opportunity for commerce and industry. Naturally, the source of this ever-growing Big Data is the increasing volume of activity happening online.

However, my 15 years at The Nielsen Company taught me a profound respect for the quality of data and the rigorous methodology needed to make informed decisions. You need the right partners across the entire spectrum of this process.

Each player has a unique approach to apply to each part of the process; however, business owners need to keep in mind that it’s the results that matter—profitable revenue.

Below is a quick overview of what you need in place to execute a Big-Data business strategy well.

  1. First, a big driver of Big Data for business is a dynamic and consistently thoughtful inbound marketing strategy. Businesses must have great content, be optimized for search, and engage in a social media strategy to communicate with potential customers and generate leads. This process emits digital signals which are the critical inputs for the big-data movement. With this data you can then supercharge RPM (revenue performance management) platforms, e.g. by protecting organic search-engine rankings from drops associated with over-optimization.
  2. Next, one has to collect all the signals—digital and even analog—to analyze and synthesize the data to develop insights leading to action.
  3. Segmentation is next. Your insights must go beyond a binary measure of who’s hot and who’s not. Knowing your personas and identifying the state of buyer consideration leads you to step 4.
  4. Targeting. You must develop custom messaging and enhanced treatment to continue nurturing or send buyers into a sales process for conversion. This output should also be continuously kicked back to refine #1.

The result
Following this process end-to-end with the right partners creates leads that convert and profitable revenue for marketing that even a CFO would love.

If you want more information, ping us to hear more about our new messaging and analytics solution.

About Jeff Leo Herrmann

With a commitment to constant learning, leadership development, and teaching, I am fortunate to have a live laboratory to experiment in every day as the Chief Strategy Officer of Fathom and Show Runner for our content platform, Creating Your Unfair Advantage.Living at the intersection of Content Marketing and Social Selling enables me to be a resource to both Sales Executives and CMOs alike because I understand the dynamics of their relationship.You won't find a bigger content marketing zealot with an intense belief that brands are better off engaging their audiences with educational and entertaining content instead of blasting them with massive traditional advertising campaigns. This perspective is well informed after a 15-year career at The Nielsen Company spent in audience measurement and advertising effectiveness.As a Boomerang back to NE Ohio after 15 years split between Chicago and New York, and my time on the speaker-circut presenting in San Francisco, Los Angeles, Tokyo, London, Barcelona, Munich and Milan, I have an intense appreciation for work-life synergy and the power of virtual work environments. I am also thankful for the analytical rigor of my MBA program at the University of Chicago, Booth School of Business.

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