Assessing and managing big data is no longer just for big companies. An increasing number of smaller, local businesses are finding impressive ways to put analytics to work on a small scale – and cheaply. Just look at localized online video advertising company, Slightly, which has recently raised $1.7 million in seed money.
With Slightly’s platform, small to midsize businesses can create video ad campaigns for multiple networks, including YouTube, and then tailor them to specific regions – without breaking the bank. The company’s technology “allows for scalable creation of videos with elements like maps, addresses, contact information, and promotional offers for specific areas.”
If you’re running your own local business and you’re interested in putting big data to work for you, there are a few ways you can go about it. Each of these approaches will ensure that your business gets the best return on your investment, whether that’s with the professionals on your team, the tools you use, or the resources you have available.
Locate and Identify Your Customers
Whether your business is big or small, information about your target audience is highly valuable. Analyzing big data is one of the easiest methods to find out about your customers. Understanding more information about your customers including their locations, age ranges, and even their genders is a way to determine the best campaigns to launch as well as the right direction for your company.
Identify and Track Trends
You can use this customer location and identification information to track ongoing trends over time in any market or industry, whether you’re providing local services or selling products online. Identifying and tracking trends in your industry will help you gain insight into the latest up-and-coming products and give you an edge in your local market.
Create Relevant and Appealing Marketing Campaigns
Once you’ve identified your consumer base and the demographic you’re currently reaching, all this data enables you to create more relevant and appealing marketing campaigns. The more you understand the consumers you’re trying to target, the easier it becomes to craft marketing campaigns that are well-received and effective, regardless of the products or services you plan to promote.
Big data gives you additional insight into the interests and hobbies of your customers to enable marketing teams to craft more creative campaigns.
The opportunities that big data present your local business are shortcuts to understanding where your business is headed. Analyzing and making educated choices based on this data will give your business an edge over the local competition and help you reach the audience that matters: the one local to you.