Marketing once was a mysterious art form that had no measurements attached to its successes and failures. As we know now, you can’t separate marketing from analytics. The real question is what do you do with all of this information?
The simple answer is to use it! By using your company’s data this will help properly inform your marketing and advertising decisions.
Definition of data-driven marketing
Data-driven marketing is the strategy of pulling insights from the analysis of company information like customer interactions, information, engagements etc. By understanding the information you have about your company, you can properly pick the best marketing efforts.
The reason why it’s important to use the data-driven marketing approach is to give your customers the best experiences with your company. By looking at your data, you’ll get a picture of what resonates with your audience.
Why you should use data-driven marketing
Data-driven marketing has a lot of benefits for your advertising and marketing plans. With more knowledge about your audience, your business will be able to have better media buying tactics, target the right people, and provide the most relevant messages.
Get more efficient media buying
If you could take the guesswork out of media buying would you? It would be crazy not to take the answers and run. With data-driven marketing, you are able to get a clearer picture of where you should buy your ads. This is why advertisers e
Advertising costs get expensive if they are not targeting the right customers. When you don’t target your customers well you end up spending money talking to people who aren’t going to listen to your message. On the other hand, when you speak to people who need or want your product they are more likely to pay attention to your message. This is the audience you want to talk to.
Talk to the right audience
However, in order to target your audience correctly, you need to know your target market inside and out. Data-driven marketing will help reveal more information about your target audience.
The spray and pray approach is a quick way to go through a lot of marketing dollars. Some companies can afford this method, but it’s always best to be effective and efficient regardless of your budget.
Have messages that will resonate with your customers
Your message will not resonate with everyone, it’s an unfortunate fact. However, by knowing what past messages grabbed your audience’s attention will help you will be more likely to create a message that resonates with your audience.
In fact, the more you know about your target market the more granular and relevant your messaging can become. Customers react well to personalization. Use the data you have to craft messages that show you understand and know what your target audience is looking for.
Don’t suffer from paralysis by data analysis
Don’t get overwhelmed by the data. It’s easy to see all of the numbers and not know what to do next. The information you are looking at should help dictate your next marketing moves.
Make sure to take it step by step. Before you jump right into analyzing the numbers, clean up your data. Also, consider what data is truly useful by narrowing down your data to important metrics. This will help you draw important conclusions. In addition, think of your information as important pieces of telling your company’s story. In fact, your data should tell a story about your customers and their past behaviors.
Overall, what you have found from your data should inform your future actions. If your customers reacted well to your past messaging don’t change the style and tone. On the other hand, if you got very few reactions from your past advertising, you can learn from your data what your customers are looking for. Data-driven marketing is a great tool for marketers because it allows us to make informed smart decisions.