Earlier marketers used to gather data to create enticing ads. And, that were targeted to wide range of demographics. But nowadays, personalization has become a core strategy for marketers and publishers. And, Big Data platforms are flawlessly helping companies figure out, analyze and manage enormous amount of information in new and exciting ways. In turn, this is allowing the marketers to create personalized ads for successfully targeting individuals.
According to a series of studies -When marketers effectively utilize the vast amount of data they can be collectively used to create personalized messages. And, these data-driven strategies can create substantial increase in conversion and engagement rate. Even marketers and media buyers are seeing tremendous opportunities, results and improvements in the performance of their ad campaigns, when they are compared with traditional display ads. In a recent study, which was conducted by the digital marketing software provider Signal – approx 92 percent of the media buyers showed that their clients are planning to accelerate their media buys, and 66 percent are planning to increase their investment in “addressable media,” which will be a much more targeted approach than programmatic branding and marketing.
Additionally, the study found that around 83 percent of marketers, who are currently using addressable media reported top-notch performance across their clients when compared with simple and easy display ads. Apart from that approx 60 percent experienced higher conversion rates, and 63 percent advertisers experienced higher click-through rates.
Big Data Challenges and Solutions
Despite of having a few challenges to the implementation of Big Data platforms, it has emerged as one of the leading platforms. According to the recent study done by Monetate – many marketers are already overwhelmed by the sheer volume of the data collected, while few of them know what to do with it. So, basically 94% of the marketers know how the valuable personalization is. And, when data gets real, 95% of them get stuck in the analysis paralysis.
Big Data, Big Challenges? – But solutions for marketers are being rapidly developed
This is where leading Big Data software vendors as Parangat Technologies comes into the picture. With the cost-effective and viable solutions, Parangat’s proven methodologies and solutions make it possible for companies to execute Big Data projects aptly that were previously considered too lengthy, intricate, complex and costly to work on. Parangat’s big data solutions help in simplifying the intricate and complex data sets into highly compelling Big Data analytics solutions, thus enabling marketing and advertising tech industries.
Wrapping it up
Nowadays, marketers are consistently and constantly looking for newer ways to increase customer loyalty and enhance user experience, especially in this fiercely competitive world. And, Big Data has emerged as the most important ways to create the best user experience that deals with customers in the way that they need to be treated – just like individuals.
In the world where an e-commerce experience is targeted by immediate signals of context like geo-location, site-searches, cookies, campaign referrals, true personalization. All these rely on the data that will drive the experience. And, that’s why for many e-businesses, Big Data has become a critical part of their equation.