Every day your company's marketing, digital opportunities and marketplace are transforming. If you feel you're drifting a bit, or if you want to learn more about what can benefit your business, here's how you can make better strategic decisions with Data Driven Marketing in mind.
What is Data Driven Marketing?
As its name suggests, it is data-driven marketing. It is getting to know a customer or prospect better through the information they generate on the web. In this way, you can communicate with them in a personalized way, with the right message and, thus, meet the needs of that group.
Large amounts of data are generated every day. These data are decisions that potential consumers generate by interacting with content coming from different channels. The correct reading of this data generates the possibility of reaching that target customer with the content that will generate the action we want.
Data is knowledge, and knowledge of your customer generates new sales opportunities and greater profitability.
Why use Data Driven Marketing?
Not so long ago, marketing decisions were made based on what seemed to work best based on the experience of marketing professionals; however, with Data Driven Marketing, every decision made is based on user data and the results of previous content or sales strategies.
But Data Driven Marketing does not take data without context or need: before you start using this powerful tool, you must:
1. Have a clear objective.
You need to know what you will use the data for. For example: To know what your potential customers are looking for the most.
2. Stop believing that more is better.
What use do you expect to get out of a huge database if you don't know what to do with it? Having data without analyzing it is useless. It is important to have tools that help you understand what your customers do and use the information that is useful to your company.
3. Think strategically.
Complement the previous point: all the information that is collected serves a specific function (age, place of residence, consumption or movement habits) with which you can generate you can generate insightsand valuable content, publication parameters and content of value..
Advantages of using Data Driven Marketing
Your company will benefit from using Data Driven Marketing thanks to:
1. Greater clarity in the data.
With a specific objective, your company will be able to have a greater amount and clarity in the data it can use. In this way, the amount of information to be examined will provide better results.
2. Better approach to customers.
By knowing the right data to reach your audience in the right way, you will be able to more expertly use certain channels to reach your customers (the social networks that are most beneficial to your company).
3. Better understanding of your customers.
You know their data, you know what they need, what they like and how they usually communicate. In this way, thanks to Data Driven Marketing, you can have a better digital communication with your customers.
Facts about Data Driven Marketing that may interest you
Adweek is an advertising seminar that has been working on trends and needs in the field since 1978.
In 2020, in the middle of the pandemic and with the social and economic movement that it implied, Adweek asked about the use of data. On this occasion, considering the new ways of working and distancing, it asked about the difficulties when using big data:
- 33% said they still find it difficult to take full advantage of them.
- 26% cannot identify precisely which are the points of contact with the customer.
- 26% are not fully aware of how the customer moves on social networks.
- 25% believe they lack a coherent digital marketing strategy.
- Here's one more!
We know the use, we know the difficulties, now, let's know what are the obstacles to work successfully with Data Driven Marketing.
- 27 % Customer data inaccessible
- 27 % Incomplete data
- 26 % Lack of experience in the use of data
- 24 % Lack of integration in marketing and sales
- 21 % Lack of internal resources for data analysis
As you may realize, the use of Data Driven Marketing can be more complicated than it seems. This is because, although at first glance it may seem that you just have to get and use information, you really have to know what to record, why to record it, why to use it, how to use it and when to use it. you need to know what to record, why record it, why use it, how to use it and when to use it. Answers that not everyone will know how to give.
What do you need to start implementing Data Driven Marketing in your company?
It may not be clear to you at first, however, as you work, you will realize what you need to reach your potential customers. This way, when you have a clear objective for using Data Driven Marketing (e.g. create a sales campaign based on their language and virtual needs), you can start operating.
Having your objectives clear, the next thing to do is to have a data model that covers a large amount of data.
So, with all the information in one place, you will be able to analyze it: what networks do they use? What are their usual schedules? What do they visit the most? What is the advertising they see the most?
Having objectives and material to work with, the next thing you need is a prepared and specialized team to transform data into opportunities for your company.
Having big data analysts, a creative team like no other and digital transformers will be a great move for you.
You already know your prospects, you already have the right team, what's missing? The strategy with which you will reach your customers. And, as you can imagine, this strategy will be based on all the data and elements that Data Driven Marketing provides.
With a good Data Driven strategy you will have a solid and well-founded base to give life to creativity also focused on data(Data Driven Creativity); thus, you will impact your target audience with the content they need.