Competition is fierce and if you’re running a startup the odds are stacked against you! With over 90 percent of startups failing within the first 2 years, it is important that, in order to succeed, you leverage every technology and advantage you have at your disposal!
Not just for companies like Google or Apple, Big Data can be used effectively by even small businesses in order to get a better view of their market and operate as smoothly and efficiently as possible! For a better idea of what Big Data can offer you and your startup, continue reading for a few ways it can be applied:
Get A Better Understanding Of Your Client-Base
Big Data is used to by business small and large alike in order to better understand their customers and how they behave and can be used to predict what purchases they may make. This info can be used to help draw in the right customers that are most likely to make a purchase!
By using Big Data to find out at what frequency your customers buy your products and what motivates them to do so, you can schedule your marketing attempts more precisely. By offering up discounts and coupons at just the right time, you may tip your customers over the edge, into becoming repeat buyers!
Enhance Your Marketing Efficiency
With budgets typically stretched thin already, it’s important that startups use what funds are left as efficiently as possible! With the help of Big Data, you can determine which potential customers are least likely to purchase your products so that you don’t waste valuable resources advertising to them. With a better view of who you should be focusing your marketing efforts on, you can cut costs and save time by having an accurate view of your true client-base.
Better Understand Market Trends
Being able to identify and glean pertinent information from market trends is invaluable to a startup’s continued success. Staying ahead of the curve as far as trends will allow you to better predict future performance and plan your marketing strategy accordingly. Utilizing Big Data, this all can be accomplished!
A great tool to use in order to accomplish this task is Google Trends; it shows how popular given search terms are in relation to other terms over any period of time. You can find out who is using the given search terms and where they are located, which makes targeting the right people much easier. This all works to further reduce marketing costs while increasing efficiency!
Generate Better Leads
With the help of Big Data, your startup will be able to come up with and generate leads easier. Having good leads is important to any businesses’ success, and you could spend all day searching yourself for them, or you could take advantage of what Big Data has to offer to get it done much more efficiently!
Utilizing a website scraper and Big Data practices, you can pull information from millions of different websites in the blink of an eye to get the information you need immediately! Being able to determine who it is that is most likely to purchase your products using Big Data, you can then scrape the web more accurately to get a better list of potential leads.
Wrapping Things Up
With a better idea of who your client-base is comprised of and a better understanding of the market’s ups and down, your startup will be much better equipped to compete in today’s highly competitive and technologically advanced market!
With better leads, you’ll more accurately target the right kind of customer that is more likely to purchase your products or services, increasing revenues and efficiency! Taking advantage of Big Data as early on as possible will help to secure your businesses’ place as a force in your market!