Data-driven marketing: A win-win situation

How Data is a Goldmine for You

What is the one thing that is everywhere in today’s world? Whether a big brand or a small startup, that one thing is indispensable for any business in the world.?

It is DATA.?

And we all know why. But what difference does it make in marketing? Read on to find out the answer!

Understanding Data-Driven Marketing?

The data-driven marketing approach is not a new word in marketing. In this marketing technique marketers build strategies as per the analysis of big data. By leveraging effective tools, marketers drive insights from raw data to turn them into actionable insights according to customer interaction.??

But is it necessary for you to invest in this marketing approach??

Well, you need to invest in a Data-driven marketing approach only if you want to serve your customers better and take your business to the top. A data-driven approach is key to spotting the target audience and creating a smooth purchasing journey for them. You can provide tailored services to stand strong in your customer’s hearts with a data-driven approach.?

What Made Data-Driven Marketing Gain Fame

Help Define the Target Audience??

The prime goal of any marketing campaign has to be serving the target audience one step better. But what if you don’t know your precise target audience???

There are 8 billion people on the earth, and your service or product is not for them all. Not knowing the precise target audience is like shooting arrows without the shooting board.??

The insights of data-driven marketing will spot the specific target group for your products/services that benefit the most.??

When you know your target audience you can serve them right at the perfect time with the right communication.???

Create a Seamless Customer Experience??

Many business owners think that marketing is all about lavish advertisements and self-promotion. However, they fail to realize that marketing is all about understanding and meeting the needs of customers in the best possible way.??

Any business can easily exceed customer expectations with data-driven marketing.? This marketing approach is key to delivering great value for your customers.????

Optimizing Communication Channels??

With the help of data coming in from different marketing touchpoints, marketers can identify the best possible communication channel for each product category, target audience, and customer segment.????

The data-driven marketing approach offers you tailored communication according to user behavior, demographics, and psychographics. CRM and ERP systems are the key players in this process.??

Example?

Spotify, the well-known music partner, relies heavily on the data-driven marketing approach. The personalized service of Spotify earned the status and fame that it has today. Spotify wisely uses the huge data gathered from its users and recommends new songs as per the users' wishes. Also, Spotify relies on insights that are drawn from a shocking 1.4 trillion data points processed daily.??

Personalization??

Generic marketing won’t speak volumes before modern expectations of customers. A study revealed that consumers are annoyed with the continuous generic messages. 63% of the respondents said they were irritated with such messages. However, 78% were open to engaging when the brand offers messages that relate to their previous interaction.?

Tailored messages or e-mails are not mere add-ons to good messaging. But it becomes an indispensable element to survive in the competitive world. Users get thousands of brand messages from multiple platforms. The personalization of your messages can only make you stand out of the crowd.??

How Does a Data-Driven Approach Help to Increase ROI

Now it is evident that marketing without data won’t stand strong. The merits of a data-driven marketing approach are massive. It skyrockets customer loyalty, lead generation, and satisfaction of customers.??

Research revealed that 78% of organizations firmly believe that a data-driven approach supports increasing their lead conversion like never before. Also, 66% of marketers trust that data paves the way for increased customer acquisition. Hence the data in the marketing lead to more personalized service. The more personalized service you offer the better the ROI you will get.??

Best Practices for Data-Driven Digital Marketing Campaigns

Have Clear Goals and KPIs?

You must clearly define your objectives and KPIs before deciding to launch a data-driven campaign.??

Having measurable goals allows you to track progress and decide the campaign's success. Examples of KPIs include conversion rates, customer acquisition costs, and customer lifetime value.?

Leveraging Strong Analytics Tools?

To effectively analyze data, invest in advanced analytics tools to collect and process data. These tools guarantee good pieces of insights into customer behavior, campaign performance, and overall marketing ROI. But remember, the tools you choose have to align with your business needs and promise genuine integration.??

Customer Relationship Management Systems?

A robust CRM system is a must for data-driven marketing campaigns. The CRM is responsible for smooth data flow between marketing activities and customer interactions. The cherry on the cake of CRM systems is personalized messaging, automated workflows, and efficient campaign management.??

Stay Up To Date With Industry Trends?

In the field of digital marketing, the only thing that is permanent is change. In such a highly competitive industry, staying updated with industry trends is mandatory to survive. Try to participate in industry-related conferences and webinars. Also, engage yourself in online communities to stay ahead of the curve.

The Ending Note

To wrap up, data is crucial, but in your busy life do you have time for all the research and plan the strategies? Well if your answer is no, then we’ve got you covered. We are here to lessen your burden and shoulder the task. At Eta, we use data-driven strategies that bring you real results and not just metrics!?