There’s just something about the two terms: big data and small business. They seem like they’re inherently unrelated to one another, but that couldn’t be farther from reality in today’s tech world. Small businesses no long have to sit on the sidelines and watch the big guys reap the benefits of big data.
Increasingly even very small businesses are jumping into data management, and they’re gaining valuable insights as a result. Thanks to the proliferation of big data and analytics technology, it’s possible for small businesses to look at key data points and turn them into action. This work is guiding smarter, more honed business decisions, particularly when it comes to marketing.
Below are four realistic ways almost any small business can make big data work for them in terms of their marketing strategy.
Expanding Your Database
Before the expansion of big data and relatively accessible tools to harness it, small businesses were left struggling to create their marketing databases in the most inefficient ways possible. It could take years to have even a somewhat decent database, so it didn’t matter how great the marketing if there was no one there to receive it. Apps are being put into place so you can not only add to your database but also quickly and efficiently monitor your social media channels.
Hearing Your Customers
Something that gave bigger businesses a leg up over the smaller guys in the past was their ability to “listen” to their customers. They could get a jumpstart on what customers were wanting or needing in their niche as a result, but with big data, small businesses are seeing they have that same ability to get into the conversation and guide not just their marketing, but their products and services accordingly. That’s one of the big reasons a lot of small businesses are even investing in more in-depth training for their marketing team, including certifications like Hadoop training.
Fostering Loyalty
Loyal customers are essential for almost any business to be successful, but that’s particularly true of small businesses. So how can you cultivate and nurture those deep customer relationships that are going to lead to long-term business? Through data-driven marketing. In the past, small businesses didn’t have the resources to create customized marketing plans for each step of the customer’s journey. That would have been inexpensive and unrealistic, but now with the implementation of big data tools and technology, it’s something that’s entirely attainable for even very small businesses.
Monitoring the Competition
To be able to maximize your success in your industry or niche, it’s important to be able to see what’s going on outside of your own organization. Monitoring the competition is an incredibly value component of strong marketing, but much like the tasks above, without the use of big data, it can seem like a nearly impossible undertaking for small businesses.
Undoubtedly as technology continues to advance, so will the opportunities for small businesses, and they’ll find themselves realistically able to compete with much larger organizations in ways that just a few years ago would have been unheard of or completely unavailable to them.
