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How to use data-driven marketing in your work
Data-driven marketing implies that the decision-making process should be guided by the analysis of a large amount of information. Data sources in this case are various tools, such as project management systems or social networks. This strategy takes into account all the information that can be tracked for a specific task. And the analysis of data for past periods is used as a basis for building future campaigns.
This approach is considered more personalized, meaning it meets the needs of the target audience. Data-driven marketing provides clear facts that characterize a particular category of consumers. With this strategy, a professional saves time on research while gaining the necessary knowledge to improve performance.
The traditional approach is designed for a large audience – it delivers a generalized message to a large category of consumers. In the case of data-driven marketing, there is an opportunity to reach a narrow circle of people, but to do so with a message that is sure to be perceived by the group.
The main advantage of this strategy can be considered optimal adaptation to the specific area of the business. There is little chance of hitting the needs of the audience – thanks to the data being processed, marketers clearly know what people need.
The effectiveness of this method is confirmed by many experts. The experts at Think With Google conducted a survey of a large number of companies. It turned out that more than 60% of respondents prefer to use data analysis and see the effectiveness of this approach. The strategy provides an opportunity to see the information coming from various channels and to compare it. This way you can quickly respond to changes in customer needs and adjust the points of influence.
Customer information is divided into four types: personal information, behavioral information, interaction information, and attitude information. By studying one or another category, marketers identify the triggers to which the audience will respond. For example, through personal data analysis, experts identify similarities in the interests of members of the same consumer category. Interaction information demonstrates the effectiveness of various marketing actions, the reaction of people to them. Behavioral information includes the history of purchases, and on the basis of this information marketers make offers.
Information about attitudes shows the loyalty of the audience to the company and its products, the level of satisfaction with service and quality. The tools for collecting such information are sites with reviews and testimonials, as well as hashtags in social networks.
The most informative indicators are data on refusals, conversion rates, analysis of traffic sources, cost of customer attraction and others. They are the basis for understanding the effectiveness of the marketing approach and compiling strategies for future promotions.