Mining for profits? Get Ready to Dig Deep into Data

By Kyle Reeves

According to Forbes.com, the story goes something like this; a young teen girl believes she is pregnant so she goes to her neighborhood Target to buy a pregnancy test. The test confirms that she is pregnant. Later on she returns to the same Target to buy supplements associated with a pregnancy and foods a mother-to-be would eat. The following week the father of this young lady took a trip to the mailbox. Here he discovered a coupon booklet addressed to his daughter from Target with baby products. The father then stormed down to the local Target to pitch his case. “My daughter got this in the mail!” he said. “She’s still in high school, and you’re sending her coupons for baby clothes and cribs? Are you trying to encourage her to get pregnant?” the father roared to a Target employee. Then, a few weeks later, the same Target employee received a voicemail. On the phone, though, the father was somewhat abashed. “I had a talk with my daughter. It turns out there’s been some activities in my house I haven’t been completely aware of. She’s due in August. I owe you an apology,” he said.

So, how did Target know a teenager was pregnant before her father? The answer, big data. Mystical and ambiguous, big data is the new bonanza for businesses and organizations operating in today’s market. The term is used daily by massive media outlets, tech blogs and business magazines. Few understand its meaning and even fewer understand how it works. Tunneling into big data is the newest gold mine for your business. Let’s explore what big data is, how it is used and why your business needs to utilize big data in your next marketing campaign.

What in the H-E-Double-Hockey-Sticks is Big Data?

Every time you swipe your credit card at the grocery store, search something online, open an email, interact with a social media post or even spend time at certain stores in the mall your information and consumer habits are tracked and converted into data. This data is then stored in massive warehouses spanning acres upon acres all across our big, beautiful, green and blue planet. Big data is used every day to persuade your vote in elections. It is used to convince you to buy a new home. It is used to supply the content you read online and even track your trip to and from work. Terrifying, I know, but it is the world we live in.

What Does My Grocery List Have to Do with Marketing?

Everything we do, whether we are shopping, researching, or wasting time on Facebook, our information is stored. All of this information is then sifted through by complex computer programs and algorithms to generate a digital make-up of our consumer behaviors. These algorithms then use our behaviors, interests, and spending habits to develop and predict people’s consumer traits. Fr instance, we as marketers are able to use big data to effectively and affordably micro target to unique consumers based off their daily patterns, behaviors and unique characteristics. All a click away from buying your product.

So, What Does this Have to Do for My Business?

It doesn’t matter if you run a mom and pop shop or a nationwide organization with hundreds of employees, big data is the place to start for your next marketing campaign. When done right, you can tap into any market you wish, effectively and affordably. When your business can advertise to the perfect target audience, whether you know it or not, your marketing campaign has struck gold. The key lies in access and interpretation of this data. Using the right digital marketer, your business is not only able to market to your perfect target audience down to a city block, but service unique ads targeted to their income levels, job titles, geographical location, interests and behaviors all across America.

If you’d like to read more or learn how your business can benefit from big data feel free to visit our website www.RevolutionReno.com

Kyle Reeves is the Founder and CEO of Revolution Online Marketing.

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