Data Driven Marketing Part 3

We'll wrap up our discussion on Data-Driven Marketing (though there's still much more to explore) by briefly addressing the steps to formulate a Data-Driven Marketing Strategy. Without a defined strategy or process, your resource allocation may not be as efficient.

How to Create a Data-driven Marketing Strategy

Step 1. Establish your goals and use cases.

The first step in creating a data-driven marketing strategy is to set the goals you want to achieve. Create clear objectives and data use cases, creating a clear goal for the data. Examples of objectives could be basing more decisions on data analysis or creating customer segments for targeted marketing campaigns based on different characteristics. These decisions will guide you in the next step, gathering the data requirements.

Step 2. Gather requirements & data

Analyze your objectives and data use cases, and identify the required information to employ your data-driven strategies. Think about what form the data will take and the points you need. Involve stakeholders from different teams to ensure the data you want to access is available.

Step 3. Create a data roadmap.

Create a data roadmap by deciding on an architecture for collecting, storing, and processing the data. Whether you choose a solution that streams your data in real-time for real-time insights or uses a Modern Data Stack that offers rapid development, create an architecture that will handle your current and future needs.

Step 4. Collect and organize the data.

Build out the data architecture and platform, collecting and organizing the data.

Step 5. Introduce a data-driven culture and set up reports.

Essential to successfully creating a data-driven strategy is to create a culture where everyone is up to date on the data and working with it daily. Crucial is to have tailor-made dashboards with actionable insights. Introduce KPIs and weekly reviews of the dashboards with your teams to ensure everyone is making decisions based on data.

Step 6. Measure and Improve. Given that you have established a data-driven approach leverage your new resources and gradually improve your outcomes by relying on data.

Best of luck on your journey, and feel free to reach out.