Using Big Data Marketing to Improve Your Value Proposition
You simply can’t define your value proposition like companies used to. It doesn’t work. Customers are too smart. They’re indifferent to advertising and too many popups, banners, text ads and opt-in subscriptions forms have made customers blind to it all. Another strategy is needed, one that relies upon big data marketing and leverages that marketing data to come up with a customer-centric value proposition.
The Value Propositions of the Past are Dead
You will never get anywhere trying to force feed today’s customers. They are more aware and up-to-date than audiences of the past. It’s not a question of education. Today’s audiences just have more tools at their disposal.
Customers now have more online resources to call upon and more time to investigate alternative options. Most importantly, they rely upon the insight of friends more than a nondescript company pushing a widget with a value proposition they can’t identify with or appreciate. So, what’s needed?
• Understand How Customers See You Now
Understanding how customers see your value proposition today is the first step to improving value in your customers’ eyes. Start by reviewing your search engine result pages (SERP) for your most important keywords, products, and landing pages. What is the prevailing theme amongst your customers online? Are they happy, indifferent or upset? Identify that mood because it’s critical to improving your value in the future.
Understanding what your customers currently think is essential to moving forward. Again, you can’t force customers to buy into your value proposition but you can use what they’re saying to better define that value in the future. It means using what you learn to improve content marketing and all your digital approaches so that customers unknowingly become brand champions. It becomes natural for them.
• Taking Big Data Marketing to the Next Step
Your big data marketing team has several data sources to call upon. Social media is one. Other sources include blogs, forums, online publications, online magazines, Twitter and other websites.
Your internal sources include your own customer relationship management (CRM) software or marketing database software. Your software tells you what customers order, when they order, what they return, what they like, and don’t like, what they see as your strengths, and finally, what they complain about. Can you cross-reference the data emerging online with that of your internal resources? Yes, you can, and getting better at it means you’re pinpointing problem areas and identifying ways to remove them as on-going concerns.
• Leverage Big Data Marketing to Improve Your Value
You now know what customers think of your business, its products, and your brand. You have online data and internal data. Changing perceptions comes down to addressing customer issues through your digital strategies. Your content marketing can be used to provide solutions to existing customers problems. Your social media channel can be used to begin a new discussion, one that confronts issues and works alongside customers to find a solution. Your search engine optimization (SEO) strategies can be used to addressed bad search engine results. Ultimately, you’re using your marketing data to guide customers towards a better opinion of your company and its offering.
• Coming Up with a Customer-Centric Value Proposition
Now it’s time to come up with a customer-centric value proposition, one that is constantly monitored, analyzed and improved upon. Those old strategies of the past must remain in the past. This won’t change overnight.
A consistent effort is required to turn this around. Over time you’ll see that your new content pieces are making an impact. Your email marketing campaigns are generating higher conversion rates. You’ll notice that customers on social media are starting to buy into your value proposition. You’ll see more targeted traffic to the landing pages that matter and you’ll have higher conversion rates from all the positive feedback and buzz created online.
A new value proposition will start to take hold with your customers. They are now active participants in growing your brand and you’ll continue to grow that brand and define that value alongside your customers.
It would be great if you could come up with a simple catch phrase, a memorable limerick or new logo. Unfortunately, it’s not as easy as starting over or just rebranding yourself. You must work with your customers and take their real-time feedback. If you do that, then you’ll have a partner willing to define a new value within your market.