Using Technology To Collect Marketing Data

Question 1

What do businesses use technology for in marketing?

Answer 1

-rather than just using existing info, businesses now use various forms of technology to find info that will help them to make decisions

Question 2

What technology is used?

Answer 2

• internet
• competitors website
• loyalty cards
• social media

Question 3

How does a business use the internet for marketing?

Answer 3

• can gauge customer interest, can see what customers look at online, similar products and what their purchase history is
• feedback, customers can provide feedback helping a business with future decisions
• research competition, go directly on to their website out use comparison sites

Question 4

How can a business use competitors websites and data for marketing?

Answer 4

• technology puts info in the public domain, makes it easier to see competitors actions
• companies provide a competitor tracking service to a business
• global traffic rank can compare how much a website is viewed compared to others
• copy successful strategies
• be aware of differences in prices
• compare products offered

Question 5

How can a business use loyalty cards for marketing?

Answer 5

• see when and where they’re shopping

- provides tailored special offers to suit specific customer needs

Question 6

How can a business use social media with marketing?

Answer 6

• can use social media for two way communication with many stakeholders
• 93% of shoppers buying decisions are bc of social media
• 90% of consumers then recommend to peers
• a report on e commerce in 2015 shows:
  
  • 34% of people follow fave brands
  • 28% discovered new brands and liked them
  • 27% researched brands and other feedback
  • most provide positive/negative fomented about the experience

Question 7

In summary how and why does a business use technology?

Answer 7

• allows businesses to analyse and distribute a wealth of data quickly and cost effectively
• computer software can calculate quantitative data
• time saved - compare quickly
• businesses can link sales records to other databases
• loyalty card data can tailor specific services
• can store data cheaply and access quickly
• can link promotional campaigns, special offers

Question 8

How did businesses traditionally use technology to gain data from customers and why was it not good?

Answer 8

• business usually tracked customers from advert to purchase
• what happens after purchase, what are the chances of them returning and buying? or going to other brands
• so some businesses send vouchers tailored to specific customer needs so they keep returning

Question 9

Examples of technology in marketing

Answer 9

• a lingerie and swimwear company linked a weather data feed into its google ads so when temperature is high, they’re sites appear
• when it rains they can pause the ad so they save money
• individual retailers analyse sales using EPOS terminals and use loyalty cards to track habits
• office of national statistics produced regular data on retail sales
• TNS (market researchers) track sales in great detail at checkout
• British retail consortium produce weekly and monthly data for its members