by Ronnie Cheung | Dec 6, 2018 | Big Data, CRM
Facebook live is a new addition to the social networks. It allows users to record videos and broadcast live to friends and followers. Although the live broadcast is not a brand-new thing, it receives huge success in Facebook. The database of Facebook is enormous and outstanding, which brings valuable big data insights.
Facebook, Big Data Algorithm
There are over 2.27 billion monthly active Facebook users for Q3 2018. (Source: Facebook 10/30/18). Facebook is the world’s most popular social media with more than two billion monthly active users worldwide. Facebook stores large amounts of data. It’s predicted that there will be more than 170 million Facebook users in the United States by 2018. Facebook is too big to ignore.
There are thousands of posts that might be displayed in the user’s News Feed. The algorithm analysis these posts and arranges their order according to the preference and relevance of users. The Facebook algorithm is constantly improving, in order to provide a good experience for users. Facebook prioritizes posts from family and friends over public because they treasure the connection of person to person.
Facebook, Big Data Insights
Every activities and engagement such as clicking, browsing, like, sharing, follow and etc. They are being collected and monitored by Facebook. Those data became valuable assets of the big database. The big data analysis produces insights. Insights can accurately foresee the user’s interests. Therefore, we can always see the most related post up front. Facebook live apply the same mechanism. In the News Feed, those videos we interest the most will be prioritized.
The emergence of Facebook Live has made the “personal TV station” no longer an obstacle. Everyone with a Smartphone can manage their personal TV channel. Facebook tracks its users by cookies. If a user is logged into Facebook, Facebook can track every site they visited. Facebook grasp the technology of facial recognition which presents its skills in photo tagging and image management.
TVmost and Facebook
TVmost anniversary award broadcasted live on the free TV network ViuTV, which announced the cooperation between online media and traditional media in content and distribution. The TV online station owns over 7 hundred thousand followers on Facebook. It is a big asset to TVmost. All it has to do is a one-time authorization from fans. It allows TVmost to access fans’ Facebook profile and personal information such as gender, age, location, and ETC. The insights it brings assist TVmost to understand the interests and the characteristics of fans. It benefits TVmost to strengthen their digital marketing services.
The success of Facebook live and TVmost emphasizes the importance of Big Data insights. It helps to improve the customer experience and customer loyalty. Adopting of Big Data solutions helps analyze customer interests and consumption behaviors across multiple channels to determine when, where and how customers are most likely to buy.
Other articles:
Social CRM: Game Changer
Big Data Analysis-CRM Big Data
Big Data Analysis- Collection
Extended reading:
Understand your customers better with big data
Will Big Data Finally Turn CRM Into Something Truly Valuable?
What Is Social Marketing? And How Does It Work?
by jeff | Nov 27, 2018 | Big Data, CRM
Customer Relationship Management System (CRM) is a system to manage current and potential customers. It usually makes use of the incentive program and membership program to attract customers, thereby enhancing revisit rate and customer loyalty. The system collects data from members and customers to conduct big data analysis. Today it isn’t enough! You have to collect the ‘’Fans’ ‘data as well. We call it Social CRM.
Social CRM-Fans to Customers
‘’Fans’’ is a new keyword which emerges in recent years. Fans are potential customers who have interest in the products or services. The keyword “fans” is closely related to social media. Many merchants start running their own Facebook, Twitter, YouTube, We Chat and etc. Social media allows footprint collection and interaction with fans. You can engage with fans and ‘get likes’ to increase loyal customers.
Social CRM: Low Conversion Rate?
Just recently, I was invited to ’like’ and ‘follow’ a Facebook page by a restaurant. As a return, it offered a cocktail for free. I believe everyone shares the same experience right? Shops offer discounts to induce fans on Facebook, and most people will do that. However how many of you un-follow the Facebook page afterward? The promotion is effective but only work for a while. Only a few fans will keep following the Facebook page. Therefore, the conversion rate is low while the cost can be quite expensive.
’Content’ and ‘engagement’ is the foundation of Social CRM. Fans may leave you once they found your content not interesting. Continued engagement is more important than discounts. Instead of spending money to offer discounts, it is more effective to spend resources to enrich your content.
Social CRM-Big Data
Social Marketing is the trend of the times. Many enterprises reduce traditional media advertising and spend more resources on Social Media. They made videos, info-graphic, text to interact with fans. Fans and visitors response and sometimes even engage with you.
Those engagements from fans are valuable data, which represents the consumption behavior and preference. Don’t waste them! What you need is an automatic CRM system which allows data analysis, data collection, continued monitoring and prediction. Like Google Ads, they collect your footprint and cookies on internet, analysis and then deliver related advertisements. If you search shoes on the internet then you will most likely see a shoe advertisement on Facebook.
Social CRM allows enterprises to engage with fans and customers across multiple channels. This is precious because it understands of customer needs more effectively than more marketing research ever could. Social CRM is redefining customer relationships management and also reshaping long-standing business processes.
Other articles:
Big Data Analysis-CRM Big Data
Big Data Analysis- Collection
Extended reading:
Understand your customers better with big data
Will Big Data Finally Turn CRM Into Something Truly Valuable?
What Is Social Marketing? And How Does It Work?
by jeff | Nov 22, 2018 | Big Data, CRM
The importance of big data analysis cannot over-emphasize nowadays. “Customer Relationship Management (CRM)” is the most well-known and introductory application of big data analysis in the business. CRM system is actually an old vocabulary, which highlighted on increasing customer loyalty. Today CRM means something more.
Why is the Incentive Program ineffective?
The incentive program was the mainstream in the marketing industry. Marketers spent most of their time working on the program. They used different discounts to recruit members and increase the revisit rate. However, the effect was unsatisfied. The initial revisit rate increased for a while but not long lasting.
Why is it ineffective? This is because human estimation is unreliable. The marketing staffs designed the program schemes according to their own experience and assumptions. It is more like guessing. Sure they can rely on marketing research, but the marketing change can be rapid. The results can only reflect the preference of the majority. What we need is something more accurate and efficient, a tool that can achieve precision marketing while catching the speed of the changes.
Data analysis is the booster to CRM System
Big data analysis understands the preferences and interests of each member. It can dig in and find out what incentives can motivate customers the most. The focus should now shift from “member incentive plan” to “big data analysis.” Know your each customer. A customized, unique promotion and discount to each customer was once impossible but now become doable with the help of big data analysis.
Collect Data and Draw Customer Portrait
What is customer portrait? It is to draw a portrait for each of your clients. The more detailed the lines, the better the data will be used to shape the customer’s tastes. What data should we collect?
First, we need to focus on customers’ attributes, their lifestyles and consumption behaviors.
- Fixed features: gender, age, region, education level, birthday, occupation, constellation
- Interest: hobbies, APP, website, browsing/collection/comment content, brand preferences, product preferences
- Social characteristics: living habits, marriage, social/message channel preferences, religious beliefs, family composition
- Consumption characteristics: income status, purchasing power, product type, purchase channel preference, purchase frequency
- Dynamic characteristics: current activities, demand, location, surrounding businesses, surrounding people
How to collect the above data to build a CRM system? Some are already in your CRM database (customer database), and some can be collected through their “footprint.” Every their activities on the internet such as clicking and browsing can be monitored. For example, visitors’ browsing cookies remain in the browser. The server can identify and record their browsing behavior from various actions, clicks, paths and etc. We can further analyze their long-term and short-term needs and interests.
You can create tailor-made incentive plans for each customer. Not just different, but also dynamically adjusted according to the customer’s consumption behavior and feedback on the incentive plan. What you need is to find a company to build and design a “CRM System” for you, so the above program can function automatically.
Other articles:
Big Data Analysis-CRM Big Data
Big Data Analysis- Collection
Extended reading:
Understand your customers better with big data
Will Big Data Finally Turn CRM Into Something Truly Valuable?
What Is Social Marketing? And How Does It Work?
by jeff | Nov 16, 2018 | Big Data, CRM
Some may see Big Data as something distant and complicated therefore not applicable to small and medium enterprises. The truth is Big Data can be practical and profitable. We can use the CRM (customer relationship management) system to practice big data analysis. Let’s see an example of CRM Big Data.
Akindo Sushiro is one of Japan’s number one chain sushi restaurants with more than 440 stores nationwide. It takes the lead in implanting wafers under sushi plates to calculate the distance travel by sushi on the slewing belt. Each dish of sushi walking at a predetermined distance will be withdrawn to maintain the freshness of the food to guarantee the quality.
In June 2015, Merchant Sushi Lang launched a Smartphone app (App), allowing guests to book a table through the app. Guests enter the telephone number, region and schedule time. The app will display the waiting time of all the stores in the area. The app will then issue a reservation number. Once the customers arrive at the store at the preserved time, they key in the reservation number on the electronic board outside the store. The electronic board receives the message and the seat will be arranged.
CRM Big Data-Collecting Effectively
This app solves the problem of long waiting time, also making the booking much easier. It benefits customers and most importantly, customers are giving out their information willingly.
Some guests may provide false information in phone or paper during the registration and booking, which affects the accuracy of big data analysis.
By using the Smartphone app’s online booking system, guests can learn the availability of the table, obtain the reservation number and compare the waiting time between different restaurants. The popup notification function is also available. The app notifies users once the table is ready. These user-friendly and convenient functions successfully motivate lots of guests to download the app. They are now happy to leave their true information like phone number, GPS location, age in order to place the booking, which guarantees the validity of the data.
CRM Big Data-Analysis and Insights
The app includes membership program, promotions, and coupons. This package offers not only discounts but also a more convenient and easier way which saves time for guests. All they need to do is to download and register. When the app became more mature and smooth, they further released the take-out service function. This required customer to provide more detailed personal information like the delivery address. Address of your customers can be very useful because it can tell whether it is a business or residential. It indicates the income level of your customers which suggest which groups you should target on.
The merchant’s CRM System integrates the guest’s data and carries out an analysis. The system tracks customers all activities like which store he went to, how many people visited, when did he enter, when did he left, what did he eat, how much he spent, did he use any coupons, did he click the promotions/advertisements through the app and etc.
Once the guest books through the app again, the data management systems will analysis the previous consumption data and conduct preliminary data mining and analysis. The app will offer custom, unique and attractive member discounts which base on the customer’s preference. In other words, every guest may receive different member discounts. If the CRM system detects a customer prefer salmon than tonguefish, the app delivers promotions on salmon more often. This is so-called Precision Marketing or Targeting Marketing, which significantly increases marketing successful rate.
Know Yourself, Know Your Customers. CRM Big Data assists you to draw up successful marketing strategies and giving you insights on managing existing customers. Small, medium and big enterprises can utilize the advantages of CRM system through big data analysis.
Other articles:
Big Data Analysis- Collection
Extended reading:
Understand your customers better with big data
Will Big Data Finally Turn CRM Into Something Truly Valuable?
What Is Social Marketing? And How Does It Work?
by jeff | Nov 15, 2018 | Big Data, CRM
The Membership Management System achieves a new level in CRM because of the Big Data Era. Nowadays the business industries and the political parties are trying everything to participate in Big Data Analysis. The use and influence of big data can be promising. In this article we will focus on how to collect the big data.
A startup company called Synapbox has developed a facial recognition system. It combined with the big data database, in order to assist companies to conduct large-scale marketing research.
They used desktops, tablets, and Smartphone to catch the facial expressions, eye movements and changes while the consumers browsing an advertisement. Then they conducted a big data analysis to calculate the conversion rate, i.e. turning viewers into potential customers. With that accurate data, they can assist companies to carry a more effective marketing campaign to increase customer loyalty.
So here is the question, how do we collect the data effectively and efficiently?
Big Data Analysis – Membership Management System
The first step is Collection. What is the right way? The ideal way is that the customers give you their data willingly. First, you must meet the needs of your guests. Offering discounts through the membership management system is one of the efficient ways to motivate customers. Their registration of membership leave lots of personal information such as age, gender, occupation and etc. It is the foundation of a member database. Once they are registered members, their further consumption activities also provide large amount consuming behavior data, which helps us to draw the customer profile.
Big Data Analysis – How to collect the data ‘quietly’?
Sure you don’t want to alarm the customers. Most people are quite sensitive and protective referring their personal information. Moreover, you do not want to annoy the customers and affect their shopping experience. So how do you collect the data without interfering the customers?
Both Google and Facebook are fully committed to Big Data Analytics. Their data analysis software is free and public. You can use the Analytics Software to track the visitor’s all activities such as clicking, login, registration, browse history, region and etc.
Even the visitor is a non-member, you can use the “cookies” function to learn the visiting rate and the devices that the visitors are using. Most importantly, visitors are not aware that their browsing behavior is being closely monitored, recorded, and analyzed.
Japanese Toys “R” Us combines their membership management system with the mobile app to motivate visitors to watch their advisements. The apps also set up a ‘’Kazasu Camera’’, which allows visitors to visit AR content and watch 3D videos. While their visitors browsing the apps, those AR contents introduce and promote their hero products in a more fun way. It successfully attracted customers to leave more data willingly.
Big Data Analysis – Connecting Social Media Account
The past registration procedure was not effective enough which the visitors were required to fill in a long registration form. Visitors may give up in the middle during the complicated procedure. Now you can shorten the procedure by inviting them to log in with their social media account such as Facebook, Google, Twitter and etc. It saves time and troublesome for visitors and they don’t need to remember one more password. This allows you to give them each a unique identity. You can access their personal data from the social platform to strengthen the quality and number of the customer database. The easier they become a member the more data you collect.
To sum up, it is the best policy to attract customers to participate actively in the process of collecting consumer behavior data. If you finish this article, congregations! You know the key concepts of collecting data. Big Data Analysis is unstoppable, and it is a train we all need to catch up with.
In the next article, we will further discuss a real case.
Extended reading:
Understand your customers better with big data
Will Big Data Finally Turn CRM Into Something Truly Valuable?
What Is Social Marketing? And How Does It Work?
