How Brands Switch To Datadriven Marketing Strategies?

There is more data around us these days than there are people. From your fitness bracelet to your phone, everything is transmitting data. The exact things that happen in your digital space are entirely based on this data transfer. In this area where people prefer something online, everything is tightly connected and supported by the data itself. So why is there no data in your marketing campaigns? Big question!

Whether you are a small business, business, sole trader, or startup, all you need is a data-driven marketing strategy. Don't worry if you don't have a data-driven marketing strategy, but you still have data in your business. Now you need a reliable method to put this data to work for optimal results in your online business or growth.

Digital marketing has taken off in many companies and many of them have taken it to a more advanced level with the help of data. Can't you see how tech giants are using data analytics to better reach their customers and dramatically increase revenue? Some companies have already predicted that data-driven marketing companies will dominate the business world in the digital age with data-driven marketing strategies .

So let's see what it takes to create a data-driven marketing strategy and never run out of data.

Three important things to know

When we think about big data, we all imagine a picture of endless lists of data and analysts working on those long datasets. However, to make things easier for everyone, we've broken it down into three main elements.

1. Data type
2. Data management
3. data settings

1. Data types

It is important to start with a clear image in your mind. Let's start with data types. The number of data types you can have depends on the type of business and the size of the market you are targeting. However, there are some basic datasets that are required to validate just about any business with a digital marketing arm. These data types are:

market data

Take the example of a data-driven marketing strategy for perfume brand XYZ Perfumes. Before XYZ Perfumes starts their marketing campaign, you need to get some facts about the online perfume marketplace. What are the trends? What is the mood of the market? It is important to collect all these datasets.

client

You have to get money out of their pockets, so you should know them better than anyone. These are your customers, and you need to get deeper into them with data, analytics, and research. Track customer data and signals from different channels and create classified datasets. Get detailed reports on what kind of people like to buy perfume online. Create a customer profile and then convert it into a buyer persona.

product

Using the example above, when your product is in the center, you need to further analyze your market data. Collect all data reports related to your product and niche, making them an integral part of your data-driven marketing campaigns.

channels

Data about your customers, market and products/niches is available on different platforms. You have to track many channels to get every drop of large datasets.

2. Data processing

Collecting data from different sources is part of the story, the hardest part is data management. There are some well-functioning data collection tools such as data visualization and data management. However, to be more advanced, you need data visualization tools and professionals to manage it. Here are the main steps in data management:

Centralization

Build a centralized platform to bring your data together. Here you can also remove duplicate datasets. Choose a centralized platform to store all your data so your team can work together.

look

To make complex data understandable to all business groups, it must be visualized. Tools like Tableau help with this task. Seeing this, non-tech companies can make data-driven decisions.

3. Implementation of data

Now is the time to implement data collection, centralization and visualization. You've done data analysis for your marketing strategy, and now it's time to take in the data and create data-driven marketing decisions. Do the following:

making decisions

Data driven marketing companies do one thing based on data and get all the results. Decision making is all they do. Have you ever thought about the success of Google? For the ability to make decisions based on data. Giant companies do the same. Prepare reports with data for decision making.

Campaign optimization

It's time to act. Create a data-driven marketing campaign for yourself. If your dataset asks you to change the target audience for your campaign, go ahead. If you think A/B testing would be a good option between two different campaigns, go ahead.

move

Data-driven marketing solutions are in demand and many data-driven marketing companies offer support. However, with the steps mentioned above, you can easily transform your company's regular marketing strategy into a data-driven one.

Responsibility

The opinions expressed above are those of the author.

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submerged | New Marketing Strategy: Data-Driven Hyper-Targeted Marketing