What is Big Data Marketing?

In the ever-evolving world of digital marketing, the term 'big data' has become a buzzword. But what exactly is big data marketing? Simply put, big data marketing involves the use of high-volume, high-velocity, and high-variety information assets to gain customer insights and make business decisions. It combines the vast amounts of data available to businesses with modern marketing techniques to create highly effective, personalised campaigns.

The Role of Big Data in Marketing

Customer Insights

One of the primary uses of big data in marketing is gaining customer insights. By analysing big data, marketers can understand customer behaviour and preferences on a granular level. Westfield Rise can help businesses tailor their products and services to meet customer needs, leading to increased customer satisfaction and loyalty.

For example, by analysing social media data, a business can understand what customers are saying about their brand and products. They can then use this information to improve their offerings and address any issues raised by customers.

Personalisation

Personalisation has become increasingly important in marketing. Customers today expect personalised experiences, and businesses that can deliver these are likely to have a competitive advantage. By analysing big data, businesses can create personalised marketing campaigns that resonate with individual customers.

For instance, by analysing purchase history data, a business can recommend products that a customer is likely to be interested in. This can lead to increased sales and customer engagement.

Challenges of Big Data Marketing

While big data marketing offers numerous benefits, it also presents several challenges. One of the main challenges is data privacy. With the increasing amount of data being collected, businesses must ensure they are complying with data protection regulations. 

Westfield is developing a unique, GDPR-compliant, measurement solution. This platform gathers relevant data metrics and calculates key performance indicators related to experiential campaigns which take place in Westfield’s malls. This measurement solution enables us to provide our clients with the same KPI analysis in the physical world as is expected online.

Conclusion

Big data marketing is a powerful tool that can help businesses gain a deeper understanding of their customers and create personalised marketing campaigns. Marketers can use this big data to help optimise their marketing strategies, reduce costs, and increase overall revenue.

Whether it’s analysing relevant insights about our visitors’ journey into the mall to design your campaign pre-launch, or measuring engagement and effectiveness during and after, we can help you leverage data to elevate your Westfield media campaign. Contact us here to find out more!