Almost everything we do today can leave passive and active digital footprints. Personal online data is of particular concern; that’s why privacy laws are in place to ensure users’ information isn’t taken without consent.
Malicious intents aside, data-driven marketing relies on individual computer use to allow brands to create more strategic marketing techniques that drive sales. Check out the most compelling reasons why your brand needs data-driven marketing to grow and thrive.
The Benefits of Data-Driven Marketing
Before rushing to hire reputable digital marketing firms such as smartboost. This helps to understand the major benefits of data-driven marketing to your business, no matter what your business size is.
- Enhances User Experience
Part of the main aims of modern marketing is to provide the users with a personalized experience. Since users have different preferences, this objective can’t be achieved without finding out how a customer behaves and responds to specific campaigns.
You need to ask consumers to share data with your brand – a data analytics activity that’s become easier these days. Customers are said to be more open to submitting personal information online just to get personalized products and services.
Giving out customized emails and offers makes customers feel they’re being valued by your company.
- Allows Businesses to Invest in Effective Methods
While digital marketing strategies don’t cost much, online sources consider monthly spending of around USD$750 to USD$1,5000 as a good average.
To ensure that brands are disbursing their revenues wisely, it’s important to be able to measure investment returns. Businesses must have access to data allowing them to pinpoint how much return in investment (ROI) that each campaign netted the organization.
With various data analytics tools, businesses can quickly discover which efforts have been working and which campaigns to get rid of.
- Ensures Targeted Campaigns Across All Channels
Part of a successful marketing campaign is being present across all channels where your target market has signed up. It’s common for users these days to have accounts on multiple platforms. Besides sending personalized emails and offers, posting your offers in diverse apps can increase your conversion rates.
Knowing where to upload your brand’s offerings, and how to create compelling messages, on specific platforms, can ultimately make your campaigns better.
- Makes Full-Funnel Marketing Possible
Some marketing strategies draw a line between leads and clients, often leading to missed conversion opportunities.
A full-funnel marketing approach helps increase ROI by treating all potential buyers as if they’re existing customers. This means your brand should impact them as well in ways that you’ll influence your actual clients. In cases of negative results, like your funnel not progressing into the next level, prompts an analysis.
Data derived from prospective customers across allows brands to send specific instead of generic messages, or offer special prices, to make campaigns more effective.
- Predictive Analytics Gets Your One Step Ahead of The Competition
If you think data analytics is the end-all and be-all of modern marketing, consider predictive analytics. The term refers to the science of predicting consumer behavior in advance, as the name implies. The technology utilizes audience profiling to foresee which products and services that the customers want.
This allows brands to become more proactive in creating products that are almost sure to fly off the shelves once released on the market. This helps attract new clients, boost customer retention, and promote brand reputation.
10 Common Data-Driven Marketing Strategies
Brush up your skills on the most common data-driven marketing campaigns that help improve conversion rates.
- A/B testing –involves comparing two versions of an app or a webpage.
- Cart Abandonment Analysis- entails understanding why users clicked specific items but didn’t push through with the purchase.
- Competitor Benchmarking- companies study the sector to find out how they fare in comparison to the other brands.
- Copy Optimization- is the act of maximizing copy to make them appear high in search engine results.
- Customer Journey Analysis- refers to the process of understanding users’ behavior and how they impact businesses.
- Expert Usability Reviews – where expert tests the functionality of a webpage and analyzes it for potential weaknesses based on the end-users’ perspective.
- Market Segmentation- is the process of grouping potential buyers into groups according to their needs and how they respond to specific campaigns.
- Multivariate Testing- a step further versus A/B testing, this involves running tests on several web page versions to find out which brings in the highest conversion.
- Usability Testing- involves asking potential users to rate a product or service after a trial period.
- Website Personalization- it means creating unique and individual experiences for each site visitor.
The Wrap Up
Every time we click on a site, purchase products online, or answer online surveys, we leave important datasets that can be used by diverse industries. Brands need to optimize the use of these data in analyzing how to drive growth and how they can make their products and services better.