The impact of Big Data on the Customer Journey
22 January 2020Need, research, purchase, evaluation, loyalty: these are the phases of the traditional purchasing process, which has undergone a profound change in recent years. Among the trends detected, the role of big data has an increasingly predominant weight in the digital strategy.
“A datum is a number, but also a text, an image, a video – tells Sara Valentini, Associate Dean and Associate Professor of Marketing – This kind of information allows to develop predictive and targeting models that have a huge impact on the study of the customer journey. A few years ago it was difficult, if not impossible, to trace the decision-making process in the pre-purchase phase, while today it is possible for companies to develop strategies aimed at increasing the probability of conversion of potential customers into customers, the probability of repurchase, volumes spent, and retention, therefore – in fact – the value generated by each customer”.
Indeed, it is proven that the investment in Analytics is associated with a better performance of marketing strategies and an increase in the profitability of the customer base. Greater access to data places restrictions to consider to avoid missteps “The real issue is privacy – continues Sara Valentini, in the Faculty of the Executive Master in Sales & Marketing – The GDPR sets more stringent rules relating to the use and storage of personal data, however, it is not just a legal aspect. The real question is what we should expect from customers in the future. Will there be greater prudence in the provision of personal information, as a result of the known scandals? Or will it favor the phenomenon defined in the literature ‘privacy paradox’, that is customers who say they are attentive and concerned about their privacy but are willing to give personal information against various types of incentives? Certainly, the management of privacy, transparency and the guarantees provided by companies relating to the processing of personal data could become a strong point for companies that will be able to exploit them positively within the customer journey”.
