Big Data, in simple terms, is the practice of analysing extremely large sets of information in order to glean valuable insights into any number of vital business practices; from customer service to logistics and everything in-between. It’s proved to be an invaluable source of information for the world’s largest businesses and now influences key stakeholders decisions on a daily basis.
Due to the complexity of the algorithms organisations need to create in order to determine trends and gain intuition, Big Data is often seen as the exclusive preserve of Blue Chips and multi-nationals. This is, considering the amount of time and money that companies need to invest in order to create said algorithms, an understandable position. That said, there are large organisations whose business models are reliant on allowing businesses of all shapes and sizes the opportunity to use their algorithms in order to achieve their goals.
Google, Bing, Yahoo and all search engines rely on advertising to generate profits and, as a result, provide businesses with the opportunity to leverage the power of arguably the world’s most advanced algorithms.
Essentially, all mainstream search engines afford organisations the opportunity to display a link to their website at the top of their search results when a user searches for a certain term. The terms themselves are determined by the advertiser and, whilst this form of reaching would-be clients can be costly, each engine will provide a variety of data sets relating to the searches that led to your advert being displayed meaning that you can use big data to optimise your efforts and improve your ROI, thus harnessing the power of big data to transform paid search into a highly-profitable route to market.
Just as search advertising allows you to advertise your services to those who are looking to utilise them; social media advertising allows you to advertise to people who are likely to be interested in your services.
When you advertise on social media, you are able to target users who are likely to have an interest in various hobbies, items and activities. If, for example, you’re selling artisan food products, you can ensure that your carefully crafted adverts are shown to food lovers. If you run a company offering excursions, you can reach social media users who enjoy travel.
It’s clear to see why using algorithms that have determine people’s likely interests from the actions they have taken on social media platforms can be highly beneficial, as can targeting search engine users, but to ensure that you’re getting the most out of your advertising budget, you’re going to need to use one extra tool.
When utilising either of the above, you’re certain to be directing users to your website and, in order to maximise performance, you should determine how people are interacting with it and identify where improvements can be made.
In order to do this, you’ll need to utilise analytics software, the most popular version of which is produced by Google. Once this has been installed, you can customise your adverts to provide a granular level of feedback that’ll greatly assist you in determining which elements of your message resonates with your desire audience and which do not.
Additionally, this tool will provide you with valuable data that will help you determine how you can improve your website and ensure more visitors take meaningful actions such as providing their contact details, signing up to a newsletter or making a purchase.
Guest Author Bio
Jay Williams works for the UK’s leading hard drive recovery experts Fields Data Recovery as a Digital Marketing Executive. He has worked in digital marketing for more than a decade and is proficient in search and social marketing and content production.