As marketers, we understand that it is important to be extremely savvy online. Everything is happening in the digital sphere and it is where we can gather feedback, ideas, connection, and so much more. But as marketing evolves, we are also seeing more new ways to develop, even within the digital space.
Striving to reach consumers and turn them into engaged customers takes a collection of different methods, but one of the most current and vital is developing marketing strategies that are driven by data.
You may not be overly familiar with the concept of data-driven marketing, so read on to discover more.
What is meant by data-driven marketing?
So, what exactly is data-driven marketing? This refers to when you use the data gathered from your customers in order to make better and more accurate predictions about what their behaviour may be in the coming months and years. It is a good way to remain competitive in your field.
What data-driven marketing can offer
In simple terms, exploring data and adapting based on what you learn can give you a greater insight into your customer habits than simple feedback forms ever could. This raw data can give you a better framework for how to best appeal to and serve your customers in the online space, allowing you to develop in line with their evolving needs, wants and behaviours. Data can show you things that customers might not even be aware of themselves regarding their habits and what they respond to – as well as telling you how they might alter their habits and interactions in the future.
Finding the right information
Before you begin creating a strategy around data, it is vital that you know which data to gather, so you do not become overwhelmed. Look at which channels are most commonly used and start there. Don’t forget to look at your competition for information, too. While you might not be able to achieve the same in-depth analysis as you can with your own data, being familiar with their campaigns can help you to understand what works and what doesn’t.
If your direct competitor has had a campaign that you considered particularly effective, think about why. Your customer bases will likely be fairly similar, so how can you adapt to achieve similarly impactful results?
Getting to know your customers
It can be easy to begin to see your customers as a group rather than as individuals. With tools like Google Analytics and other data gathering systems, you can track them on a less broad level. This can actually help you to understand how best to tailor your campaigns in the future.
You may be surprised at what the data shows you – sometimes the demographic you are marketing to can be starkly different from your actual consumer base, meaning you could be trying to appeal to the wrong group altogether.
Reading data
Being a data-driven marketer in the digital world is a fantastic way to stay one step ahead of both your customer and the competition – but it can also feel like a whole new universe to explore. If you are not skilled in reading data, you may end up gathering incorrect information, or creating content that isn’t effective due to being too heavily entrenched in the data that has been gathered.
You can always find someone who is more experienced in reading data to gather it for you and together draw conclusions and create a strategy around this. An expert touch is necessary in order to make the most of data.
Remember the human element
While it is important to be driven by data in order to get high quality quantifiable results, as well as predicting potential trends, it is equally vital to remember that behind every data point is a person. The data you gather cannot tell you everything you need to know about your customers, but should rather be used to create a more whole and holistic picture of them to work with. Maintain your empathy and understand that campaigns with an emotional core are often the most successful.
With all of this in mind, it is clear why knowing your data and understanding how to use it is imperative to creating marketing strategies that work. While you may have experience in one area of marketing, there is no telling whether the tactics used with one demographic will translate and work for another – having a firm grasp of the right data can help you to always hit your goals.