Digital Marketing has become one of the most strategic areas within companies. As they are responsible for profiling Buyer Personas and creating content to win them over,
Marketing professionals can have trouble
separating reality from their own perception and experience.And in a scenario where, according to this IBM taiwan phone number data report , 80% of marketers make decisions based on traditional methods such as their instinct, a new methodology emerges that has more accurate and grounded results: we are talking about Data Driven Marketing .
What is Data Driven Marketing and why is it an essential strategy for any company? Read on to find out!
What is Data Driven Marketing?
To get straight to the point, Data Driven Marketing is the set of decisions and strategies created after analyzing Big Data from consumers. This data can be taken from first-party sources (own customers) and third-party sources (market and industry reports).
In other words, Data Driven Marketing is a strategy that organizes, processes and uses the massive amount of information you have about your customers (current and potential) to obtain valuable insights about them.
Therefore, its objective is to understand even the smallest detail of consumer behavior in order to design more precise and results-oriented Digital Marketing actions.
What is not Data Driven Marketing?
Ahh, so can we say that Data Driven Marketing find out why you should specialize gathers as much information as possible about users? The answer is: no. Specifically, Data Driven Marketing:
- It is not doing Data Mining ,
- It is not the same as Data Science ,
- It does not intend to follow each and every Digital Marketing metric .
What differentiates Data Driven Marketing from these actions is its strategic nature : all the data that a company collects serves a purpose, and that is to obtain real-time insights about consumers automatically.
Data Driven Marketing therefore only stores data that is relevant to a business in an organized manner. This is done with the aim of guiding Digital Marketing actions to meet the increasingly complex needs of customers and build customer loyalty .
Why is being Data Driven essential for 21st Century Marketing?
Today, more than ever, it is a fact that data is the most valuable resource in Marketing . Yet, 87% of marketers think that data is the least used asset in their organizations.
However, the information age is here to stay.
And the use of data will certainly increase given the growing quantity and quality of data. Thus, businesses that implement Data Driven Marketing strategies avoid:
- making decisions based on assumptions, not realities;
- offer a user experience with low levels of customization;
- investing in marketing actions that do not bring the expected results;
- miss growth opportunities;
- build low-value relationships with customers.
Instead of relying on “I think,” data provides bjb directory objective instructions , which is incredibly valuable in the decision-making process. That’s why Data Driven Marketing appears to be the new compass for digital strategists.
5 advantages of Data Driven Marketing for companies
We have already seen that today it is possible to quantify and analyse consumer behaviour using Big Data. But what does this mean for business?
Below we list 5 great benefits of data-driven marketing.
1. Maximize return on investment
By understanding the needs and pains of your Buyer Persona , you can plan and execute more focused marketing actions. This will prevent you from wasting your resources on actions that do not have a strategic foundation.
Consequently, by making efficient use of your resources, you optimize your results and earn a higher ROI .
Having a solid foundation to objectively identify the strengths and weaknesses of your strategy allows