The Importance of Consumer Insights for Precision Marketing in the Era of Big Data

Abstract

E-commerce developed so far has gradually changed from a crude incremental dividend to a refined operation, which examines the operation, marketing, technology, and serviceability of enterprises due to the highly intense competition. To maintain an advantage in the competition and achieve business growth, enterprises need to improve their influence continuously and seize opportunities to attract consumers attention. Precision marketing has become one of the critical factors. The prerequisite for precision marketing is to have precise insights into consumers. The arrival of the big data era provides new ways and means for enterprises to gain insight into consumers. This article mainly emphasizes that enterprises can make use of all kinds of data, from collecting and organizing consumer data to final formulating marketing strategies and improving the marketing strategy through consumer insight research, rather than using the traditional method of depicting consumer profiles and one-sided formulation of marketing strategy. The article introduces the big data era, explains the necessity of consumer insight, and states the relationship between big data and precision marketing. Additionally, it describes consumer insight, mainly from utilizing big data to analyze the consumers and understand the advantages and potential loopholes of big data-driven consumer insight. With the popularization of the Internet and mobile devices, the traces left by users are becoming more comprehensive and wealthier. It is crucial for enterprises to conduct data analysis to dig and analyze consumer habits, experiences, and values to tightly link consumer insights and marketing communications to carry out precision marketing.