Today is the data age. Companies should actively develop their data-driven digital strategy frameworks to meet growing consumer expectations. This framework is data-driven and will give you insights into how to serve customers better online. It will also help you create more reliable strategies that can deliver long-lasting results. This is known as data-driven marketing.
What is Data-driven digital marketing?
Data-driven digital marketing refers to the method where companies use customer data to predict future needs and wants. Methods such as predictive analysis can help you anticipate or predict changes in their interactions with your pages and/or website. You will then be able to stay one step ahead.
Companies and marketers have endorsed the systematic approach. Forbes reports that 66% of marketers believe this strategy has increased their customer acquisition rates. Like all marketing strategies, data-driven approaches still face many trials and errors. It takes time to harness the power of data to bill effective frameworks to create campaigns that work.
How to be a more Data-Driven marketer?
1. Identify your ideal markets and audiences for your product using data.
Target the audiences and the markets that are the ideal fit for your company. If you invest all the money into marketing and advertising it won’t amount to anything if it is not reaching the right prospect. Using lending data you may find the type of audience that has used this type of equipment before or you may even find an entire industry that you had never even considered before. If you know exactly who you are marketing to, this allows you to adjust for seasonality, anticipate buying patterns, and segment messaging.
Utilizing data and shaping your marketing around it can give your company an advantage in this very crowded field. Companies should not settle for reading data from customers’ interactions with ads and engagements on the site. This can lead to a fragmented view of your customer and could cause you to miss key pieces of insight development. This is in line with the key digital trends in 2021 which relate to non-linear customer experiences.
They don’t just interact with brands through one or two channels. Their journeys often take them through many twists and turn before reaching their conversion goal. Marketers should not only look at first-party data sources but also consider third-party sources to gain a “holistic understanding” of their audiences. This will allow you to gauge who your audience is, what they want, and the messages that resonate with them. This data will allow you to ensure that your business and marketing strategies are accurate and achieve the best results.
2. Target direct competitors
The old days of brand awareness are gone. People know about your brand and they know about your competitors. Always gather information about your competitors. It is important to realize that your company does not have the right to dominate the digital market. Digital executions can be influenced by your direct competitors as they are likely to target the same customers as you.
It is beneficial if you could find out which parts of those competitors can be adapted into your strategies or executions. Competitors’ data is not for you to copy but rather for you to have an improved understanding of what could be successful and how you can improve that strategy to suit your advantage.
3. Try to know your customers personally.
You can use Google Analytics to get first-hand information about your customers’ likes and dislikes. This information can be used to help you create smooth, personalized campaigns that get attention, and traction and take action from your customers. Customers expect more than personal engagement. They also expect that engagement comes at the right moment on the right device and with the right message.
4. Find out the issues to achieve the trend.
Trends are what users tend to follow. However, for marketers, this could be the key to a better digital strategy. Remember that marketing campaigns are only one way to get people to buy what you are selling. It is crucial to identify the root causes of the problem and then figure out how to fix them. Studying the actions of every customer on the website is a very good method. Try to figure out where visitors lost interest, and what other patterns they are following, and use the data to improve campaigns and achieve better results.
5. High digital maturity is key.
Modern business approaches require digital maturity. Studies have found that organizations with high levels of digital maturity performed better than organizations with medium digital maturity. These organizations were also found to be more effect efficient, as well as more likely to win grant increases and are more optimistic about the future.
It is essential to start with the basics of digital maturity. You can start to search for digital tools your company might require. And then you will need to learn and master these tools. If your company is short on time, it can always turn to a data-driven agency to help.
6. Be channel-specific
You reach the channels your customers are using. This information is easy to gather because of modern technology. You can target your audience using information about consumer device preferences. A majority of people are now on their smartphones. Mobile-friendly strategies can be developed to help you reach your customers. It is also a good idea to optimize your websites for mobile viewing.
Targeting your preferred channels will not only improve your targeting accuracy but also simplifies the buying journey for your customers. This will be a win-win situation for both the company and the customer.
7. Have someone else read it.
Data scientists can help you if you need data to drive your business forward, but you have very little or no knowledge about how to turn data into insights. Get help from experts to save yourself and your team. This is one of the key steps in creating a data-driven environment, so that analytics language can match and complement the whole business. Although it may seem daunting to become a data-driven business, with the right tools, the team and the right people you can make it happen.
Your customers’ data cannot tell you everything about your customers. However, it can only tell so much about your customers. This is why campaigns don’t resonate with people as strongly as they do with other marketing. Experts are required to look at data to gain data insights. So try to make your connections mutually beneficial. With that, we will see you in the next one, catch us on our social media handles below.