More than ever companies use data collected by different methods to constantly improve their activity and services. This is understandable given that organizations using this strategy are 23 times more likely to win customers. At the same time, they have six times more chances to keep their customers, compared to less informed businesses. Therefore, this article will explain why Data Driven Marketing helps companies to be 19 times more profitable than their competitors.
What does it mean to be Data Driven?
To put it in the simplest words, it is an approach based on using customer information to create more efficient sales and marketing campaigns. Data are collected from online presence using mobile phones and other methods. These are then analyzed so you can
1. Determine future trends.
One of the biggest advantages of adopting a data driven approach is to have a lot of information in the database. Afterwards, you can use it to learn useful aspects about potential or current customers. You can see patterns and identify trends before they explode. With this powerful information at hand, you will know what to expect from the market segment you are operating in, and how to use your expertise to adjust your strategies accordingly.
2. Making decisions based on facts, not assumptions.
Organizations that use data-driven strategies don’t have to make many assumptions. This approach allows you to make decisions based on solid facts and eliminate the countless human prejudices that are usually involved in decision-making.
3. Improve the development of products and services.
Companies that collect and analyze data know their target market better, learning things like what consumers use more, who they are, what they like and what they don’t.
With such information at hand, it is easier to increase the features and services that your customers love and need. This makes it easy to identify areas with the greatest potential. In addition, you can come up with new products or services specifically tailored to market requirements.
4. Consolidate customer engagement.
The era of a single marketing for everyone has long been over. With so much data available online, consumers expect brands to deliver personal and relevant content. Having so much data at hand is a competitive advantage. It allows employees to create messages that consumers resonate with. On the other hand, it should significantly increase the customers involvement and increase their brand loyalty.
5. Develop experiences across multiple channels.
Data help you in more ways than you would think. For instance, you can share ads built on data collected across different channels, such as social networks and Google, using automated marketing campaigns. This way you can ensure that your message is relevant, valuable, and consistent. You can also make sure, based on the information you get, that your message reaches the right people at the right time and place.
6. Support longevity.
Companies that are larger and older often have firmly rooted internal processes, mentalities and cultural customs. For this reason, they can see change as challenging and avoidable. In such cases, the data collected can be used to motivate employees. They, instead of being overwhelmed with information, will begin to see it as a useful tool. Over time, this will help you create a data-driven culture within your organization.
What are the simplest ways to collect data?
1. Google Analytics
Google Analytics is a powerful tool that allows you to evaluate information called big data and turn it into action strategies. It is also a highly customizable tool and is available online at no cost. With it you can identify keywords, check the responsiveness of mobile devices, learn more about your audience and improve the website speed.
2. Google Ads
Google Ads is a pay-per-click advertising system run by Google where advertisers bid certain keywords so that their ads appear in the platform search results. You can read more about pay-per-click advertising here.
3. Spreadsheet
There are many analysis tools and user data management systems that share their personal information. These can be organized into forms called spreadsheets. After organizing the information, you will be able to identify trends, conduct analyses, calculate return on investment and much more.
Ways to implement data driven marketing
1. Customize user experiences
Using data analysis tools allows you to collect the data you need to know your audience, their preferences and dislikes. This means you can create personalized user experiences, more than just include people’s names in a simple email or a Facebook message.
2. Target customers using dynamic advertising
Social media platforms are imperative to build connections with the target audience. You should take advantage of major platforms such as Facebook and Instagram to share ads.
3. Optimize paid search
O abordare din perspectiva data driven marketing îți permite să optimizezi campaniile online, să îmbunătățești clasarea în motorul de căutare și să conduci trafic relevant către site-ul web adoptând strategii bazate pe date.
A data driven marketing approach allows you to optimize online campaigns, improve search engine ranking, and drive relevant traffic to the website by adopting data-driven strategies. Data driven marketing is not a whim or something you could easily ignore and your performance won’t be affected. Rather, it is a powerful tool that can guarantee the success of a company even in the most competitive environment. On another note, data can also be collected via SMS. Join the SMSO platform and learn how to communicate quickly and efficiently with your customers.