Data-Driven Marketing for Your Business: Why is Time to Adopt This Strategy
Updated: Oct 7, 2019
Data-Driven Marketing has a quite literal translation, because that's exactly your strategy: making decisions based on analysis of data generated or collected from customers and employees, which makes strategic marketing decisions much more objective and reliable.
Data creation is growing exponentially worldwide. Gartner and IDC are forecasting that we will reach 40 trillion gigabytes of global data next year (2020). And this data can be invaluable resources for marketing planning, which is why Data-Driven has become indispensable for many companies.
This data is derived from any interaction with customers, new technology tools give companies the ability to know and understand their consumers deeply. From habits, social movements, shopping, and online searches, the interests of customers have never been so well known.
It is worth to say that the benefits of Data-Driven Marketing lie not only in increased sales but also in the way the customer sees your brand. The better you understand your audience, the more you direct your money to those who are really interested in your business.
The Goals of Data-Driven Marketing
When taking data-driven marketing activities, the audience dictates the heart of the strategy, generating more engagement by delivering relevant messages to the consumer. This is because, this action will be thought through analysis of people, not just users. The moment the brand understands who are they, what they want, where and when the consumers are, it has better access to its data and gets a broader view, which is reflected in the processes and marketing strategies that are optimized to serve the right demand.
Still have questions about the benefits?
The listing of the benefits of a Data-Driven company is numerous. Capturing data from customers, suppliers and partners is effectively a success. Not only for sales efficiency, but also for ease of implementation with easy-to-use tools. With the right data at hand, brands are aware of who interacts with their actions, which channel, and at what time of day they are most active.
This data can be acquired with marketing automation tools such as Google Analytics and social tracking systems. Actions taken through Data-Driven Marketing are fully measurable. The company will easily have ROI, which will show what worked and what didn't and create improvements for the future. From a high bounce rate, or a low conversion can be evaluated what is needed to improve the customer experience.
If your company has not yet adopted data analytics as a way to be closer to customers, it is certainly throwing away a lot of precious data. Learn how to use this feature to your advantage.