Beginners Guide to Data-Driven Marketing 2021-22[Quick Tips]
Over the past decade, one of the biggest shifts in the marketing field has been how marketers now have access to massive amounts of data from their customers, third-party tools, and social networks.
While this abundance of data provides many opportunities to deepen customer relationships and drive business success, it also brings unique challenges. Meanwhile, making sense of the massive amount of information available and determining how to best use all this data to improve marketing performance.
According to the market research, the importance of customer loyalty, conversion rates, and optimizing their journey in order to make a sale has been highlighted by 46%, 43% & 42 percent, respectively.
What is Data-Driven Marketing?
Data-driven marketing is all about improving marketing efforts based on observed customer behaviors—when customers interact with your company or product, specific actions are observed through tools like Adobe Analytics or Customer Data Platforms like Adobe Experience Platform, Tealium, or Amperity. These interactions can then help you adjust future marketing strategies based on these behaviors, including advertising investments or pricing structure.
Data-driven marketing approach is a component of B2B and B2C marketing that focuses on quantifying and applying actionable data instead of relying on gut instinct. The big benefit of employing a data-driven marketing strategy is that you can focus on metrics that bring value to your business—and ignore those that don’t matter.
Benefits of Using Data Driven Marketing Solutions:
Data Driven Marketing technology consulting is one of those terms that gets thrown around, but what does it actually mean? At its core, data driven marketing technology is simply anything that can help make marketing more efficient or improve results. Moreover, it’s is loaded with other amazing features:
- Marketers who use data driven solutions can better pinpoint their target audience by using advanced data collection methods.
- With accurate information about your customers, you’ll be able to create targeted marketing campaigns that will attract new customers.
- Marketers who use these services say they can expect an increase in profits of up to 25%.
If you haven’t already implemented data driven marketing technology into your strategy, use our tips to begin down this path today!
3 Tips for Successful Marketing Technology Implementations:
If you have a marketing technology stack in place, it is time to take a step back and look at how your current tools are working for you. Here are three tips that will help you implement better marketing technology that will help grow your business.
-Plan Before You Start: Creating a plan before you even start implementing marketing technology can be a massive benefit in avoiding mistakes and expediting planning tasks. Having a detailed list of what you need to accomplish before, during, and after implementation can save months of work when executed properly.
Alignment-Make Sure Everyone’s on Board: All departments should know exactly what marketing technology does and doesn’t do before you begin. Most importantly, everyone must agree on which features they want in their marketing technologies prior to launch, so there aren’t any surprises down the road.
-Set Up Measurement Frameworks: Marketing technology needs to be monitored and measured to ensure that it gives you a return on investment. Measuring ROI takes time and resources, but some key areas can be identified for measurement from day one with careful planning beforehand.
Putting all your data together in one place makes it possible to get an overview of how you’re doing across different channels, industries, geographies, and customer segments. Once you have that big picture in front of you, you can start developing specific insights into what’s working and what isn’t—and then putting that information into action. Hopefully, by now, I’ve done my job in helping you realize just how important data is when it comes to running a successful business.
With so many different marketing technologies, it can be overwhelming for marketers to know which tools they need and how best to implement them. By partnering with a marketing technology consulting firm like Muse Platforms, you can get all of your questions answered quickly and efficiently. If you’re Muse Platforms can help your brand succeed in today’s digital world, schedule a free consultation today!