The following statements are based on research done by McKinsey. It is interesting to read and helps to understand the future of marketing. As the client you will appreciate the insight that these researchers provide. However, as a marketer it is important to have accurate information and select the data sets carefully.
The first statement in the set “Is Big Data Wrong?” is “Yes”. That’s because most of the social media and customer insights are not captured by using traditional methods. Some of the information is useful but often too general to be of real benefit. For example the information about brand impressions and loyalty is very useful but how do you know if a person has a positive impression of your brand or business because they are on social media.
The second set “Is Big Data Wrong?” is also “No”. This is because the consumer privacy and other social media practices have evolved. The old practices of buying targeted traffic from search engines and Bum marketing campaigns from small businesses were not good enough. Today, social media and other clever techniques are being employed to gain more insight into customer behavior.
The third statement in the set “Is Big Data Wrong?” is “Yes”. Again, this is because many of the traditional marketing research methodologies have not been updated for many years and even if they have been they are no longer capable of giving insights into consumer behavior.
The fourth set “Is Big Data Wrong?” is “No”. Not only is it not outdated, it is also because there is currently a plethora of advanced and effective ways to use all of the available glut of information in order to gain rich and effective tap into consumer behavior.
What about the last set “Is Big Data Wrong?” This one can be answered with another question. “What has been your experience using such strategies?” If you have had a good experience with a Bum marketing strategy or another form of competitive marketing intelligence, this is an important part of your big data success. However, if you have not had success with any of these strategies and would like to use them for your own gain, then it might be time to update your marketing intelligence to include all of the available glut of information that truly work.
The fifth and final set of questions we will pose to our audience is “Which of the following statements regarding big data is true?” Only your unique online marketing research plan and ability to identify the right information will enable you to take advantage of the wealth of available online research data to benefit your company. This means you must ask yourself “How important is it to my key customers or target market?” In today’s tough economy, it is very important to your bottom line.
You may even want to take the opportunity to update your marketing Chapter 4 review. When it comes to online research tools such as Google Analytics, Market Samurai, Influx Insights, or any other available glut of information, it is important to make sure your plan includes an update to stay up-to-date. If you miss out on the new information, you could lose a lot of money with your marketing efforts. With any of this information, you are ready for the five Which of the Following statements discussing big data is not true?
The first Which of the Following statements discussing big data is not true? Marketers need to think about the future. In today’s world, the market has changed dramatically. There are so many more options available online. It is much harder than ever before to gain rich leads and make a profit.
The second Which of the Following statements is not true? Marketers must consider the social impact media has on their business. Studies have shown that when a consumer searches for a product or service on a social media platform, they often search specifically for brands that use social media in their marketing research. Brands that do not use social media have lost a tremendous amount of potential customers. Social media has the power to change everything.
Finally, the third that of the Following statements is not true? Online marketers should no longer focus only on paid advertising. A majority of consumers to search online for the product or service they need. Paid online marketing campaigns are not reaching the targeted key customers. Many of these people simply find the best pay-per-click option.