DATA-DRIVEN MARKETING- AN OVERVIEW
Digital marketing keeps evolving, having strong direct relationships with customers is becoming more difficult as the online landscape is now even more cluttered with a lot of brands trying to reach digital consumers. Data-driven marketing gives businesses the opportunity to reach the right people at the right time with the right message.
DEFINITION
Data-driven marketing is the process of using consumer data for optimum and targeted advertising and creative messaging. This type of marketing uses data acquired through customer interactions, and from third parties to gain a better view into customers’ motivations, preferences, and behaviors. It is now a fundamental part of advertising and business strategy, Applying data-driven marketing means both understanding the data you already have and being aware of the data you can gather, also, to examine and follow this information to enhance your advertising efforts.
KEY BENEFITS:
1. Data helps to gain more understanding of the target audience: Your database can help you identify the niche groups such as their age, gender, income, interest, the purpose of buying, geographical location, e.t.c that might be interested in your product, it helps you focus your data-driven marketing efforts on those who are likely to buy.
2. Make More Sales: Proper application and implementation will allow you to target the right individuals in the right way which will help increase customer
loyalty, sales, and referrals because you are able to reach people who have an
interest in your product.
3. Improve Business Performance: Data enables businesses to foretell the demand and plan deployment of people and resources to meet the demand on time and budget.
4. Improve Customer Experience: With Data-driven marketing businesses can
improve their customer experience by implementing customer satisfaction
surveys which will help them gain an understanding of where improvement is
required and what is important to their customers.
HOW TO COLLATE DATA FOR DATA-DRIVEN MARKETING
1. Facebook: the tools provided within Facebook Ad Campaign such as
Custom / Look Alike Audiences, Advert Set, Audience Insights, and
Facebook Pixel is highly beneficial in collecting effective Data.
2. Google search console: This tool gives businesses an integrated
overview on the audience insights and their behaviour as well as how
their product/services are searched for/discovered, With information
gotten from here, businesses can intuitively and intelligently make
informed decisions for their data-driven marketing campaigns.
3. Google Analytics: By Connecting Analytics with Display & Video 360,
Google Ads, AdSense, AdMob, and Ad Manager, you can use the insights gained from analytics to reach the right customers and also discover which users are likely to convert or which customers have high revenue potential.
4. Instagram: Instagram insight is another tool that can help gather quality
data for data-driven marketing, the Instagram users activity will help you
analyze the Instagram users and their behavior, user group interests,
popular trends and much more.
Data-driven marketing enables a business to boost its sales and ROI through the vast amount of information businesses can get about prospective customers and leads. More and more companies expect their marketing teams to be driven by data, and this trend will continue in the future and stay for a long time.
“Data isn’t a barrier and it’s not just another initiative to add to the team’s plate. Data helps teams get smarter, more efficient, and more effective. Data itself isn’t difficult, but finding ways to utilize it can be challenging.” source www.marketingland.com
This article is brought to you by Baynet Fuse Limited — An Online Media and Digital Advertising Company.
