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SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Data Science to boost your Brand

By definition, Data Science is a multi-disciplinary field that uses scientific methods, algorithms and systems to extract knowledge from structured and unstructured data. It processes enormous volume of information to draw meaningful conclusion and help businesses grow and expand.

Some of the biggest advantages analyzing data can give to your brand include improving efficiency, cut costs, boost sales, better recruitment, identifying opportunities and targeting the right set of audience to name a few.

Focusing on the practical ideas, four ways you can use big data to raise brand awareness include:

1.      Personalization: Analyzing consumer related information helps in understanding their preferences on an individual level. You can customize offers so as to fit each user individually.

2.      Choose the most relevant marketing channels: Brand awareness largely depends on marketing strategy and the channels you choose to promote business. For instance, Instagram marketing may help you attract younger users while marketing on LinkedIn gathers business professionals.

3.      Create better content: Data analytics enables you to learn about the buying persona such as education, relationship status, professional status, personal interests, demographics, leisure time activities, etc.

4.      Quality reporting: Using data science you can figure out the strengths and weaknesses of the brand, website traffic, social media performance and many other features.

 

Have you ever thought about incorporating data science into your business strategy?

Details at: https://www.business.com/articles/drive-business-growth-with-analytics/

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Knowledge of insights with social listening

Social listening is all about searching the web for mentions and conversations that are of specific interest and analysing those to gain meaningful insights. Campuses use this marketing tool to create new programs, measure brand awareness etc. Data can be easily assessable and analysts with right sets of tools can analyse the trends. Research analysts at Brandwatch analysed conversations about college search to scrutinize the behaviour of students and parents on their concerns about colleges. They were able to get most frequent words used and also a word cloud showcasing sentiments. Social listening can be used in other areas of campus as well such as selecting academic programs and alumni relations. Read more at: http://www.carnegiecomm.com/blog/the-next-wave-of-market-intelligence-social-listening/

 

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Most Frequently Asked Questions On Content Marketing

The most important aspect of content fundamentals is really defining and understanding the importance of content marketing. There's a lot of noise about content marketing today. Content marketing is the process of creating valuable, relevant content to acquire, attract and engage the audience. It helps to induce interest in the business with the creation of new ideas. It also builds relationships and fosters conversations.

John W Hayes in his article on business2community.com presented the most frequently asked questions on content marketing and they are:

  1. How do you balance thought leadership with giving too much information away for free?
  2.  How do you persuade, cajole or bribe colleagues into providing the content you need?
  3. What, and how, do you measure the success of content marketing?

 To know more about this study, please follow the link:  http://www.business2community.com/content-marketing/top-content-marketing-faqs-01283052

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Flexible Customer Relationship Management

Consumers provide their opinion about their experience to various sources based on a single transaction. Business organizations can take steps to ensure their customer relationships accommodate consumer preferences, opinions, and requests without any hesitation. So, Flexible customer relationship management is a must for increasing business revenue, preserving brand awareness, and managing business reputations.  It must involve automated marketing and advertising campaigns, premium customer service practices, and comprehensive accountability for all customer interactions. Read more at: http://it.toolbox.com/blogs/insidecrm/customize-your-crm-system-for-flexible-customer-relationships-64581

 

 

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Soccer World Cup 2014: Social Media strategies and war among the brands!

The ongoing World Cup is expected to see most Social Media mentions of any sporting event. Since June 2013, there have been 19 million social mentions including the phrase “World Cup”! Soccer is the most popular sport in earth and social media is the creamiest option for fan & follower interaction and debate. However, for business houses, it is also the right time to explore this hype to turn the tides in their favour. With proper social media strategy, this world cup fever can help you reach 230 countries! According to FIFA secretary general Jerome Valcke, FIFA will earn $4bn (£2.3bn) in revenue from this tournament – ten per cent more than last time. About $1.4bn (£837m) will come from sponsorship deals, the balance from TV rights. Much of that increased investment will go into content and social media. "They will certainly continue to use conventional paid-for media, but owned and earned media are occupying a larger share of the communications mix as brands increasingly become publishers in their own right during major cultural moments," says Martin. The brands are at war! Brands like Nike, pepsi, Adidas all are trying to bank on this social media interaction Tsunami and beat competitors. While brands have long been publishers in one way or another, the latest iteration of brand publishing using social media to engage and magnify the content is really only now coming to maturity. There is even a tenuous strain of thought that suggests the 2014 World Cup could mark the high tide of this approach. Nancy Smith, President and CEO of New York-based marketing consultancy Analytic Partners, says her company has examined billions of dollars of marketing spend and has come to very different conclusions. She said that “Budgets are increasingly stretched and social media are a very good way to extend those dollars. It is clear that owned and earned media are a must. We have found that owned and earned engagement has boosted incremental sales from paid marketing by two to six per cent. The average is about five per cent, although we have seen effects from social media for smaller niche companies as high as four hundred per cent”. The question remains open: Brands are going full throttle on their online channels for this footy frenzy but could the 20th World Cup be the high watermark for social media? To read more, visit the following link:

http://www.prweek.com/article/1297965/20th-world-cup-social-media-strategies-brand-war-rooms

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