TREELOGIC TEAM| 19/07/2019
Promotion and advertising concepts exist because there are products and services to sell. Their essence consists of creating feelings in different people, such as attention, interest and desire, which eventually result in the action of buying.
Perhaps the first advertising experts were the businessmen who tried to convince people to purchase their products hundreds of years ago. How did they do it? By shouting the features of the product out loud. Over time, advertising campaigns have changed with the onset of new means of communication. Undoubtedly, the invention of printing was one of the most important developments in this sense, making it easier and cheaper to reach the target audience. The evolution of advertising as a concept has brought us to the current situation where advertising is an essential part of the global economy. Traditional agencies founded at the end of the 20th century, which based their actions on the design and execution of offline advertising campaigns, have now found themselves in need of adapting to the digital domain.
As we always tend to say, the latest industrial revolution affects all parts of the economy and society, as well as the strategies of companies trying to increase their sales. As technology has developed, so has the appearance of new means of communication and especially an exponential increase in the ability to analyse people’s behaviour: there has never been so much information to be able to attract more customers.
Digital transformation has changed the traditional way of attracting, monitoring and handling customers. The massive use of smartphones, tablets and smart watches linked to the Internet of things, technologies monitoring users via the Internet and new Big Data tools make it possible for optimum management of all customers, including potential ones.
The huge quantity of data we are creating means massive information storage centres can focus on practically all of our day to day information. In other words, companies which dedicate themselves to processing these data and creating value from them, have detailed and reliable information about every aspect of the daily lives of the majority of people.
In business, different sales methodologies and strategies exist which can be strengthened by Big Data to improve their performance techniques, like offering an additional and/or complementary product or service to that being bought has traditionally worked well in many sectors. However, data analysis has made these types of strategies grow exponentially. Now, we can know the exact needs of each customer due to their purchase history, Internet and social media behaviour and their list of favourite products.
These up-selling and cross-selling techniques are closely related to the concept of customer lifetime value, CLV, which determines the value of a customer for a company over time. If checking the occasional needs of every user and satisfying them is being achieved, the relationship will be long-lasting and CLV will be increased. To achieve this, use must be made of all the necessary information acquired from the start of the actual relationship; that is, from the moment of attracting the customer.
THE BUSINESS VALUE OF DATA SCIENCE
Data is a very important source of value for companies. The ability to turn the information gathered into a valuable resource is synonymous with having a competitive advantage.
WHAT DO YOU KNOW ABOUT CLOUD COMPUTING?
The use of the Cloud Computing in the digital age is an advantage when it comes to optimising resources. The current technology opens up the possibility of replacing a server with data centres or your own IT infrastructure; companies can rent space in the cloud and use the services they need, paying only for what they use.
THE TREELOGIC APPROACH: WE DEAL WITH DATA
One of Treelogic’s main objectives, in all of our projects, is to help the client discover how data can add value to their business. Identifying and exploiting the competitive advantage within any sector is fundamental in order to achieve the best market position.