If your big data application is in need of a new market for BI lead generation, consider online businesses. In this age of digitized retail, more and more stores are moving from street shops to web domains. Though as a result, one can argue that it has only widened the size of their potential customer base which in turn increases the demand for big data tools to help analyze behavior.
Ebay Shows Where Your Lead Generation Can Go Next
One real example of this is popular auction site Ebay. From a recent report on ZDNet, the company’s vice president of experience, search, and platforms explains how big data has played a role in helping such a large retail site analyze and predict buyer behavior:
“One of the ways it does this is through optimising its search engine and the results that come up by making tweaks based on customer behaviour patterns deciphered through the collected data.”
You might think that targeting Ebay might come off as too ambitious but here is the catch: Ebay is not the only online shop out there. Remember, as more businesses go online, so might the need for similar tools which makes them a potential source of your IT leads.
Now when your lead generation venture is exploring a possible market, here are some facts you need to determine first:
- Needs and awareness – Needs and awareness of a problem are intertwined. It is easy to make the mistake that just because they are not aware, it means they are not interested. Use your lead generation tools to not only test the needs of prospects but make them aware of issues when it comes to analyzing large amounts of customer data.
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- Niches areas – Some retail sites are not always as general as Ebay. There are specialty online stores too so be ready to decide whether you should opt a general approach or focus on a particular niche yourself.
- Privacy issues – Customer privacy issues can pop up when technology is being used to monitor their behavior. Arm yourself with a handy bit of legal consulting so you (and your potential clients) can clear things up. Alternatively, you can also consult a lead generation company ask from their experience.
Related Content: Telemarketing – Another Tool For Transparency
Secondly, do not lose vigilance just because you manage to determine a suitable market. In fact, you can outsource your lead generation to quickly get familiar and still that only means you are quick in determining obstacles (like the one Ebay has encountered):
“‘It takes several months of engineering to implement a factor, and it’s very high risk because we don’t know at the time whether its actually going to be useful for our customers in helping them find items,’ he said. Which is why Ebay usually runs a number tests on the website for a sample group of users first to gauge the response.
Another challenge is taking the context of search queries into account. One example is if a user looks up ‘Geelong Cats’, Ebay’s search engine may just take ‘Cat’ as the keyword and run it across the Pets category — not particularly useful when the user is searching for the sports team’s merchandise.
‘There are very subtle problems that can occur at our scale, so we need the likes of data scientists to investigate these issues,’ Williams said.”
Of course, the sooner you know the better. Go online for your BI sales leads today!