Want to keep up with the constantly evolving marketing? Read, talk, listen, network, and collect data! And when you combine them with intuition, those collected data will give you the power. The power to create game-changing products/services and drive users to engage. That’s the power data-driven marketing has.
Data-driven marketing has now become an important part of business strategy and advertising.
What started as an innovative approach is now a must-have in marketing strategies.
Data-driven marketing: What it means?
Data-driven marketing can be defined as strategies that are designed based on insights.
These insights are extracted from analyzing data that are generated from consumer engagements and interactions.
Further, these insights help marketers to predict future behaviors of customers.
Now here’s a simpler definition:
Data-driven marketing is the marketing insights that are generated by analyzing data from or about consumers.
Data-driven marketing involves a sound understanding of the data that you already have, and the data you can get.
Furthermore, data-driven marketing also refers to organizing, analyzing, and applying that data for making your marketing efforts better.
What does the future hold?
The year 2018 is going to be the year for data-driven marketing.
Companies are already thinking of improving their customer engagement campaigns using location data and analytics.
In 2018, “State of Digital Marketing” of Social Impact ranked big data as the second on marketing activities’ list. The big data mentioned here includes consumer and market insight as well as predictive analysis.
The importance of data-driven approach and management is apparent. It is safe to assume that in the coming years the focus will be on data-driven campaigns.
Here’s what we can predict as the future of data-driven marketing:
- Advertisements will be tailored based on the customers’ current location, and where they prefer socializing, shopping, and eating.
- Location-driven data will make offline media formats, such as TV or outdoor banner ads, more localized.
- The brick-and-mortar stores will take advantage of the location-driven data to lure more customers.
Therefore, data-driven marketing will increase engagement by helping marketers all over in understanding their customers better.
What can data-driven marketing get you?
Data-driven marketing can get you better results through customer engagement.
Data is useful, especially when you want to understand your customers and tailor something that will suit their need.
Let’s see how data-driven marketing, can get you maximum customer engagement.
1. Email marketing with data
Email marketing has found its rightful place in the majority of renowned brands’ marketing strategies.
To make the most of email marketing, you can design strategies, which will ensure a very high level of personalization.
When you create and deliver content based on the specific preferences of a customer, it can work for your brand.
Further, it will also nurture the relationship between you and your customers.
Now, when you create data-driven email marketing campaigns, it’ll address your customers’ needs. They will get their solution or preferred products/services in their inboxes.
With data-driven marketing, you can ensure that the right person gets the right message, at the right time.
With proper implementation, customer data management can be the key to email marketing. It will ensure that your emails add more value to your brand’s relevance.
2. Advertising with data
When you include data-driven advertising with your overarching strategy, you can reach users online, wherever they are!
Furthermore, you can use marketing automation solution and data insights and create hyper-targeted smart ads. As a result, you can boost your reach, retention, and of course ROI.
With data-driven marketing, you can achieve better precision; by selecting and identifying contact details and get more specific content. This specific content will be potent enough to encourage more conversions.
A great example can be seen on social media.
Social media platforms like Facebook can help in collecting first-party information about users and advertising.
With the help of dynamic ads, you can design one two-way communication channel tapping into the database.
3. Retargeting with data
Users tend to shift from one device to another, and platform to platform.
When you get a purchaser or browser on your website, you can continue to target them! Regardless of where they are.
Retargeting is a term used when a brand/service uses data-driven advertising and targets potential customers who moved to other pages.
With retargeting, you will give them a nudge and remind them what they were looking for the first time.
Retargeting can be used on social media sites or websites using ads. It can be helpful when a user abandons his/her cart, as the retargeted ad will remind him of what he/she left.
Retargeting is an important component of a data-driven marketing strategy.
Here’s an example:
Suppose someone purchases a pair of jeans from a website. The seller can use this purchasing data and offer them related products like t-shirts and belts.
Data-driven marketing: Why you need it?
Take a look at some prominent benefits of a data-driven marketing strategy.
When you have accurate information, you can use it to modify or design campaigns for your prospects.
It’s important that you convey the relevant message to the relevant audience at a relevant time. Data-driven marketing lets you customize campaigns, which can help in conversion.
Better development of product
Data-driven marketing discourages failure rate of products. Businesses can understand their targeted customers better, which helps in developing a better-suited brand for a particular market.
Better customer experience
When you send out personalized promotional emails or SMS, your customers won’t be annoyed.
With data-driven marketing, your customer data will be analyzed and filtered out based on preferences and demographics.
When you leverage customer data, you can expand your reach across multiple networks and communicate beyond emails or SMS.
When you distribute data-driven ads across multiple channels, they will reach each user at the perfect time and in perfect places!
Looking at the benefits of data-driven marketing it’s safe to assume that for better customer engagement you need it!
A proper customer data management can get you better results. With a better understanding of your customer data, you will be able to design your marketing campaigns in the best possible way.
The future seems promising for data-driven marketing.
Especially, now that artificial intelligence and predictive marketing are almost here, the data-driven approach will become essential!
Data-driven solutions are fast gaining its well-deserved place as a part of marketing campaigns.
Customers’ progressive needs and expectations for better and personalized experiences are signs that you NEED a data-driven approach!
Tell us what you think of data-driven marketing.