Traditional marketing methods are no longer in a position to deliver the best possible results for business owners and marketers who are looking to compete in a world where Digital Marketing is expected to surpass traditional marketing in 2019. Therefore, you need to look at the marketing methods, which are proven to deliver positive results in today’s world. That’s where data driven marketing comes into play.
WHAT IS DATA DRIVEN MARKETING?
First and foremost, let’s get a clear understanding of what data driven marketing is. Then you will be able to have a clear understanding about all the benefits that come along with it. Data driven marketing can simply be defined as the process, where the online marketing strategy extracts all the important information from big data, collected via customer engagements and interactions, to predict the future behaviors that can be expected to take place. In other words, you will be focusing more on understanding the data that you have now and building something greater with it. Then you generate meaningful information out of data and align your marketing campaigns accordingly. Therefore, you will be able to receive positive results out of the time and effort that you spend on each marketing campaign.
Businesses and organizations use data driven marketing for a variety of purposes. The primary objective of all those entities is to personalize and enhance the overall customer experience in an effective manner to ultimately lead to a conversion of some sort.
WHY DATA DRIVEN MARKETING MATTERS
In order to make the most rational and educated decisions in a competitive market place, both business owners and marketers need to position themselves in the trenches of each campaign that they are launching. So, if you’re asking yourself if business owners or marketers truly dive deep into data driven marketing strategies the answer is Yes, a considerable percentage of business owners and marketers have already learned to embrace it. Here are some stats, which will help you to get a better understanding about just how invested people are in data driven marketing strategies.
- 51% marketers focus on data driven strategies based on a Digital Marketing survey released earlier this year.
- 45% of marketers do it to acquire new customers.
- 43% of them do it to integrate data across multiple platforms.
- 37% do it to enrich data quality and completeness.
- 34% of marketers do it to segment their specific target markets
WHAT BENEFITS CAN YOU OBTAIN FROM DATA DRIVEN MARKETING?
Now you know what data driven marketing is. Let’s look at the most prominent benefits that data driven marketing can provide to you. Then you will be convinced to make appropriate adjustments in your current digital marketing campaigns to get the most out of the available data.
1) Personalizing your Campaigns for Conversions of Interaction, Investment and Engagement
As a business owner or a marketer, now that you are aware that traditional marketing methods are no longer in a position to deliver the best possible results. It’s time that you start looking into personalized digital marketing campaigns. A Data driven marketing strategy will be able to help you with that. With the data that you have, you will find it as an easy task to send the right message to the right audience. You can learn and see what your core audience engages with the most and you can also observe when your audience engages most so that you can do it at the perfect time as well. Therefore, you can experience guaranteed results at the end of the day through consistent optimization.
Data driven marketing can provide tremendous assistance to your brand to customize the marketing campaigns. Then there is a possibility to convert all the business leads via a better understanding of complete customer profile. You may have heard of the term “Imaginary Customer Profile” You can identify your perfect lead through optimizing for the right KPI’s (Key Performing Indicators) within these personalized campaigns. When you run such a marketing campaigns, you will be able to experience the maximum return out of your investment. Hence, you don’t need to worry about anything when you are spending your time, effort and money on a marketing campaign that has a purpose in mind, with hard data to understand it.
- 87% of the marketers believe that data is one of the most underutilized assets in their organizations.
2) Clarity is Key for performing campaigns
Another prominent benefit that you can get from a data driven marketing campaign is that it can ensure the clarity in your promotional campaigns. If you look at your business’ database today, you will notice that there is a wealth of information contained within that you may already be aware about, but you have not actually utilized it to its full potential just yet. With the help of data, you will be able to understand the most actionable and accurate information about your current and past prospects as well as your list of customers. That’s why it has become essential for you to go ahead with a data driven approach. Then you will be able to identify and group the target audiences in an effective manner, remember we were just talking about segmenting your audience? By doing so you will end up with highly effective results through capitalizing on the information provided and segmented for each campaign that you are running.
3) Omni-Channel Marketing, learn it, experience it
The data driven marketing campaigns that you design can run across multiple networks, such as Social Media channels like Facebook, Instagram, TikTok, Twitter, Snapchat, and LinkedIn as well as Search Engines to maximize visibility such as Google, Bing, Yahoo. As of now, you might only be focusing on the email’s campaigns or one of the mentioned channels. However, there are plenty of other aspects as mentioned, which you need to be focused on as well. While you are running your marketing campaigns you should be able to automate the marketing campaigns that you run on these multiple channels. Therefore, you can ensure that your message is delivered to the target audiences in a consistent manner. You will be able to improve the reach in an effective manner as well and it will help you to make your business visible to a higher number of potential customers, each platform has its core users and you will be able to address every single one of them while growing your brands awareness.
4) Give your customers an experience to learn about your brand
The marketing campaigns of today’s world are all about customer experience, interaction and engagement. If you can deliver a better customer experience, you will find it as an easy task to attract them towards your business on a more consistent basis. Data Driven marketing strategies are meant to enable optimal awareness, visibility and conversions by contributing towards the betterment of your business. For example, when you give out a customer satisfaction survey, they will tend to go ahead and fill that for you. This will help you to understand the specific areas, in which your business is performing and areas in which your business needs to be better.
5) Implement and Deploy a Better Digital Marketing Strategy for Your Product/Service Development
Finally, you need to keep in mind that data driven marketing has the ability to provide great assistance to the improvement of your product development process. Many businesses that used data driven marketing in the past have been able to reduce the product failure rates. The results can be applied across businesses that fall under all industries. With the help of data driven marketing, you will be able to get a better understanding about your perfect target audience. Hence, you can create better products and services, which would fit perfectly well into the market
Now you have a clear understanding about what data driven marketing is and what benefits you can experience out of it. Now it is up to you to go ahead and get the most out of data driven marketing. The time and effort you spend on it can provide you with outstanding results in the long run. If you’re curious to learn more about data driven marketing strategies or would like to look over some of your current campaigns and define KPIs that matter don’t hesitate to get in contact with us.
TopshotPro - Branding & Digital Marketing
Director of Branding