INNOVATING IN THE MOBILE AGE
Big Data & Beacons: Best Practices for Marketers
© 2014 PHUNWARE, INC. ALL RIGHTS RESERVED.
Retailers and marketers have not yet begun to take total advantage of the newest technologies available through mobile technology. The “big two” are namely Big Data and Beacons.
Big Data, a relatively new term in the marketing world, can be a rich source of information for retailers that utilize mobile marketing. By allowing marketers to tap into the social and economic habits of consumers, Big Data offers retailer’s details about their customers like never before. And those employing traditional marketing techniques have been feeling the sting: when marketing budgets invest in un-targeted advertisements, these days both consumers and retailers lose.
Beacon technology takes a different tack in catering to the consumer. In providing retail guests with up-to-the-minute relevant ads, coupons, and information based on their location, marketers can interact with consumers on a personal level in order to create a seamless, holistic shopping experience. Location intelligence allows retailers to meet customers’ wants and needs in real-time.
These technologies, in their nascent states, have yet to realize their full potential, though. Here are some key best practices that will allow mobile marketers to utilize these technologies, and capture a larger market share:
1) OBTAINING CONSENT
With both Beacons and Big Data, retailers can streamline their ads to reach the right kind of audience. Much of this information, however, is locked away – until a consumer provides consent. The key is to provide the consumer with the opportunity to receive deals and information about the goods and services, whilst assuring them that their privacy is of the utmost concern. (Remind them that they can benefit from the service, too!) In order to establish trust with the consumer, users need to know how the data is being used and have the ability to opt out if they so choose.
2) USER DATA
Once consent is obtained, the sky’s the limit. Big Data allows retailers to collect more accurate target marketing profiles of their consumers, while Beacon technology gives retailers the opportunity to target those consumers at just the right times. By tracking which websites (mobile and desktop) are most popular with a given target audience, what apps they use, and how much time they spend socially networking, mobile marketers can get a better idea of exactly how to advertise to these customers. It’s all in the details: marketers can know when and where to deploy banner ads, which apps to sponsor, and when exactly to reach their potential customers on their mobile devices.
Once marketers have a good-sized sample of operator data, they can begin to alter their content to provide individually tailored ads to their customers. For example, businesses have started to use “surprise and delay push notifications” when a customer is in a retail store. These notifications are reaching specific customers directly, offering them the deals that they are most interested in, all because of the specificity of the data collected.
Eventually, marketers will be able to track every point of contact and compare the effectiveness of each. They will know the demographic of the user, as well their purchase history, which allows them to direct their ad budgets toward successful campaigns that generate sales.
3) DIRECT COMMUNICATION
Beacons allow marketers to communicate directly with their customers and promote personalized experiences at low cost to the retailer. When a beacon recognizes a nearby consumer, the user can be guided through her or his own purchase process: they can examine reviews, new offers, look up information, or access an associate for help. All the while, retailers are continuing to collect this relevant data for use in future notifications and purchasing experiences. Because they are providing valuable information to companies, those retailers need to be weary and respectful of the kind of information they provide back. Most importantly, assure that all communication adds value to the user experience.
Most importantly, make communication personalized and easy-to-understand. The more that businesses open up communication with customers through knowledge of consumer data, the more those customers will value the dialogue. Brand trust and loyalty will increase, augmenting sales from both the loyal customer and referrals.
In short, marketers need to get on board with new technology as it manifests, and retailers must begin to create an effective marketing strategy with the “big two” or be left behind. Live data from Beacons, coupled with the massive statistical information of Big Data will produce a more comprehensive profile of the modern consumer – an invaluable asset to today’s mobile marketer and a truly enhanced experience for the consumer.
Big Data allows retailers to collect more accurate target marketing profiles of their consumers, while Beacon technology gives retailers the opportunity to target those consumers at just the right times.
© 2014 PHUNWARE, INC. ALL RIGHTS RESERVED.