We are in the Golden age of Marketing where technology is what has driven our ability to collect data in better and most effective way. And a collection of significant data is only the ways to the success of any business. Processing all the collected data and its analysis, support decisions makers by providing the relevant facts that will allow them to make a better decision for any marketing campaign; be it online marketing, offline marketing, TV or Radio ads and what not.
we have some really cool applications of Advanced Marketing Management Science which help us to actually make business decisions that influence the products and services. The beauty of such tools is the ability to collect real-time data. Let me give an example of Kohl's Department Store It's a very large national chain department store and kind of the low to the medium end department store in the United States. They're doing what's called Smartphone Targeting same as Google, Amazon or Facebook. They have data on visitors geospatial location. The minute visitor walks into the store and picks up the Wi-Fi network in that store. They know visitors geospatial location. Everyone's cell phone has a fixed IP address, so they can identify each particular visitor. Also, they can now link that to what you've done if you've gone on to their website kohls.com. Let's say they know that Eric Bradlow was standing in front of the shoe aisle. They can now actually send him a real-time discount for shoes, whether through text or it could even be a phone call.
Similarly, if a user is browsing through a website, they could be tracked through cookie which is distributed, shared, and read across two or more unrelated Web sites to gather information about what exact page you are browsing through, on which button you have clicked, the time stamp on any particular page your overall activities are being tracked through website heatmap.
Kohl's Department Store has the data that it's Eric Brandlow through his phone and the Wi-Fi network. And now it could be sync with his behavior online and possibly through their data network and online and offline in the store. They know physically where he standing. And now, the action they are taking is to send a targeted or contextual discount given my physical location. This is extremely valuable data.
This is how we can use the latest technology to our marketing campaigns to cater potential/prospect and convert them to the real customer.
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