Data-Driven Digital Marketing: Boost your Marketing Strategy

According to a recent survey by the world-renowned Forbes magazine, about 88% of all businessmen use third-party big data or databases to achieve their business goals.

Therefore, data or information is a valuable business tool for any businessman in this era of information technology. Let’s Learn What is data-driven marketing

What is Data Driven Marketing?

Data-driven marketing is a data-driven marketing strategy that collects large amounts of information using customer interactions and customer motivations, preferences, behaviors, etc. obtained through third parties to gain better insights about customers. is

This type of marketing is completely different from the normal marketing system. Through this, traders gain the ability to appear in front of customers at the right time, at the right place, with the right offer. Where as in the general marketing method due to lack of sufficient data or information and proper market analysis many mistakes have to be faced in the beginning.

Using strategic and tested methods like Data Driven can easily overcome such problems. Moreover, this method helps traders to achieve well-defined goals and develop trading strategies over time.

Why is data driven marketing important?

There is no doubt that the likes and dislikes of people depend a lot on their thinking and behavior.

In data driven marketing, this opportunity is used to collect various data. By using this data, a potential buyer is converted into a real buyer.

For example; If we consider an energy drinks company, which mainly deals in providing drinks for adults. They get response from very few (only 5%) people even after running their ad. But this number of buyers can be easily increased by using data driven marketing techniques.

Following a data-driven strategy, data on individuals consuming different types of energy drinks were first analyzed using a large database. Now you can use this information to show ads to people who consume energy drinks regularly or a lot.

As a result, your ad will only reach drinkers rather than thousands of ordinary people. Which will help you get the expected buyers of your product within a short period of time.

Data-driven marketing basically gives companies specific information about customers’ buying habits. Data driven marketing uses personal information like age, income, marital status, children, birthdays, etc. to get to know customers better.

How to use data or information to reach your goals?

Generally all businessmen aim to create customers and earn profit by selling products or services to them.

Regardless, every marketing campaign or promotion must have some sort of goal. It could be profit making, product sales, a specific goal of adding new customers or anything else.

Businesses use data-driven marketing insights to achieve their goals. In the case of B2C (Business to Consumer) business, businessmen collect huge amount of data from social media and other media. For example, CES (Customer effort scores), NPS (Net promoter scores) etc.

By analyzing this huge database using data driven techniques, it is possible to find a suitable segment for your business out of a large population with similar preferences, behaviors and habits.

Now you can easily create your business plan (targeting the right customer, advertising, campaign etc.) by targeting the right segment for your business. Which leads you to business goals.

Implementing data-driven marketing strategies

data-driven marketing strategies

1. First, determine the goals you want to achieve from data-driven marketing. Many people recommend using the S.M.A.R.T method to achieve your specific goals.

• Specific (Specific) – Keep a specific goal of increasing your income by 10% or 15% instead of randomly increasing your income.

• Measurable – These must be reducible.

• Achivable – Goals must be achievable. Otherwise you will not serve any purpose.

• Relevant – Goals should be relevant and potentially profitable for your company.

• Timely – You need to set a reasonable time frame to achieve each goal.

2.  Adding new customers, increasing profits, revenue, customer experience, etc. Decide on the goal you want to achieve

3. In this case, you have to recruit employees from various departments like sales, IT, marketing, customer service etc. in your team. Build a team that has the necessary skills to analyze your data or information.

4. Create a list of your buyers. What Will be your targated clients

5.Depending on your campaign, you can look at their browsing data, social media interactions, CRM data and survey results, etc. Determine what type of data/information you need.

6. Choose automated tools that work with your collected data. Automate your workflow With tools to make everything smooth

7. Now from this analysis decide on which media you will run your campaign. You can choose any medium that suits you apart from e-mail marketing, content marketing, PPC advertising.

8, Finally, start your campaign now. Review your results, calculate return on investment, and apply what you’ve learned to your next campaign.

Video Guide On: Data Driven Marketing Strategies

Video Source: YT Channel – Funnel

Conclusion: 

According to Forbes, 88% of business professionals are currently using third-party big-data providers in order to meet their objectives. This lessens the typical mistakes made by older marketing techniques while at the same time making campaigns more effective; moreover it aids in converting possible purchasers into definite clients.

In today’s data-centric world, businesses can achieve significant growth, and customer satisfaction if the set clear objectives and make use of skilled teams and automated tools, continuously refining strategies that are based on insights that are accurate.

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