What is Data Driven Marketing and what is it for?
Data Driven Marketing – We could say that Data Driven Marketing is the strategy of strategies and we would not be falling into a simple pun, because this concept places the customer at the center of companies’ marketing efforts .
Today, consumers have access to a wealth of information, where and when they need it. In addition, consumer expectations of brands are greater and changing. Therefore, having a broad knowledge of their consumption habits , their reactions to brands, their aspirations, purchasing power and other details puts companies at an advantage.
In this context, the data obtained in the on and offline interactions with users are the raw material to reach such a level of knowledge. The marketing decisions that will drive new conversions and strengthen the engagement of already acquired customers depend on its processing and analysis .
Towards a definition of Data Driven Marketing
Data Driven Marketing ( DDM ) or data-based marketing is a strategy that uses various tactics and tools to take advantage of large amounts of data, with the purpose of developing more effective marketing processes . In fact, such data provides a broader view of consumer behavior . Therefore, the insights obtained from this information may be relevant for decision making. Some of these decisions may be to target personalized marketing strategies to specific user and demographic groups.
It is precisely the users themselves who provide the data, with their interactions through multiple and different channels. For example, when they make purchases online and in physical stores, or when doing an Internet search. Also when they comment on their experiences with brands on social networks or react to shared content. As in every transaction they carry out through digital banking . Thanks to technologies such as big data, advanced analytics, artificial intelligence and machine learning, it is possible to quantify and evaluate customer behavior based on this data. In the same way, the analyzed data can be applied to technologies such as the Internet of Things( IoT ), which some retail and fashion chains use to send offers or reminders to customers near their branches.
CRM, an essential tool
In the collection and analysis of data for marketing purposes, CRM ( Customer Relationship Management ) have been essential tools for many companies. CRM ‘s capabilities in these areas have expanded with its move to software-as-a-service ( SaaS ) status in the cloud . Thus they were able to evolve from their initial function as an information repository to include various integrated technologies and applications. With them, it was possible to further automate communication actions with customers and manage marketing with greater agility for each stage of the conversion funnel.. Even these resources make it possible to assess the effectiveness of these efforts.
Advantages of Data Driven Marketing
Thanks to Data Driven Marketing , the marketing departments of companies can determine the aspects of the strategy that help to meet the goals. Likewise, this concept facilitates the identification and discarding of what does not work. At the same time, data-based marketing makes it possible to optimize efforts in this regard, motivating creativity and the implementation of more effective tactics.
The collection of data and the speed of its processing allow us to know in advance what the consumer wants from the brand. Therefore, the decision-making process is lightened, becoming more relevant and timely.
On the other hand, Data Driven Marketing provides other important advantages:
By having a large amount of data, marketers filter the relevant information based on which they will implement their strategies.
The strategy in question facilitates the segmentation of target audiences and buyer personas . In this way, you increase the likelihood of targeting personalized marketing communication to the right customers.
Brands can better communicate and interact with their target audiences through marketing personalization . This approach helps brands connect with the right markets and send more relevant messages.
Data -driven marketing also helps improve the customer experience through the use of feedback forms or consumer surveys. So user feedback through these instruments provides even more information on which areas to improve.
Launch of new products
Data Driven Marketing greatly increases the chances of success in launching new products. Likewise, the concept we are analyzing provides companies with a more precise vision of those added values that the consumer expects to see associated with the offer.
The exchange of content/messages and data that characterizes data- driven marketing is continually developing across multiple channels.
What is Data Driven Marketing for?
Data Driven Marketing results in a series of processes focused on promoting the brand and its products and services . Next, we will explain some of them.
Data Driven Marketing improves Email Marketing
Email marketing continues to be one of the most effective channels for brand and product positioning and recall. As we said, Data Driven Marketing helps to segment target audiences and buyer personas . From there, we can create personalized communications for each group. To a large extent, this procedure is automated, but the optimization of these messages is such that they can drive a one-on-one interaction with customers.
Retargeting or reorientation of clients.
Data management under the DDM concept makes it possible to reorient customers or retargeting . That is, when a customer makes a purchase on an ecommerce portal , it generates the necessary information to send similar or related offers. In the same way, this applies to the attraction of customers who have stopped buying on the site.
social media marketing
With data-based marketing it is possible to take advantage of the high rate of interaction on social networks . In this case, creative marketing campaigns on platforms like Facebook or Instagram or Twitter tend to go viral. This allows to increase the positioning of the brand. Apart from that, it is possible to obtain more relevant data from the followers, inviting them to register for said promotions.
Organic or paid SEO positioning
When we manage the data effectively, we can identify the keywords linked to the needs of our target audience or buyer personas . In this way, we can position our website organically through an SEO strategy or by using a paid alternative such as SEM ( Search Engine Marketing ). Remember that data is critical to attract the traffic that really interests us at the right time.
In short, the effectiveness of Data Driven Marketing is based on decanting relevant data and implementing a creative approach to communicate with customers. Today, marketers need to know more and more about consumer behavior. This will determine the success of your strategies and the ability to anticipate any trend.
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