Marketing should be grounded in a data-driven foundation. A requirement of today’s modern advertising is delivering a hyper-personalized consumer experience. If data-driven is not a familiar term for you – you had better read on.
Our world is filled to the brim with explosive, attention-seeking, consumer-driven, capitalism – and it is beautiful. Spoken from a highly experienced marketing perspective, there will never be a better time to get into the industry. With the endlessly exciting times ahead, don’t let this term intimidate you. Put simply – data-driven marketing is making marketing decisions based on data and analytical reports.
Using data-driven marketing is beneficial in multiple ways, one of which is being better able to create content and make marketing decisions based on facts and not guesswork.
Below are five reasons why data-driven marketing is vital for any new business:
Higher ROI
Highly targeted data-driven marketing helps to create unique, personalized messaging for each customer – giving you a greater insight into their interests, online behavior, lifestyle, and even their moods.
This insight translates into a significantly higher ROI for each campaign. All you need is to use that data to guide your content marketing strategies and post the best information at the right place, at the perfect time.
Improved Customer Retention
If you use data to better understand your customers, your retention levels will skyrocket. Keep your customers loyal and attentive by tracking and implementing strategies that play into their preferences and purchasing behaviors.
An improved retention rate will always lead to a healthier bottom line for any business, especially online businesses. The right data-driven strategies can help identify when customers are at risk of leaving, allowing your Customer Experience Department to intervene before it’s too late.
Better Customer Insights
Support full-funnel marketing and gain better customer insights with a customer data platform like Adobe CDP. Consumer insight trends are everything when it comes to the customer experience and anything CX related.
Use this piece of valuable software to deliver the right engagement, at the right time, to the right person through interactive and predictive analytics. The result can transform your business and marketing strategy, helping you deliver better experiences to your customers.
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Efficient Spending
Consistent messaging can be used across multiple channels, allowing you to leverage data and extend your reach further than you ever imagined possible. Data is wildly useful for measuring results and determining which strategies lead to the most efficient spending of your marketing budget.
Track data points such as web traffic, conversion rates, engagement, and sales response to get a crystal-clear picture and what works and what doesn’t. That information is crucial for planning your next successful campaign.
Segmented Audience
Any experienced marketer knows that you can’t send the same message to every potential customer. People are different, which means marketing tactics need to be diverse. Every prospective customer is on a different stage of their buying journey, and they appreciate and respond to specific marketing material that will help them move to the next stage.
Use data insights to segment your targeted customer’s buying behavior, demographics, and habits to help tailor your advertising and marketing efforts. Knowing your targeted customers before they buy from you is one of the single most valuable data sets in the modern world.
