Data-driven Marketing Guide
What is data-driven marketing?
Introduction
Data-driven marketing can help businesses drive engagement, maximize ROI and get the most out of their resources. After all, data-driven marketing insights can help you target the right audience at the right time.
While data can be a business’s most valuable resource, today’s customer is becoming more and more unpredictable. They’re switching between channels. They’re dropping in and out of sales funnels. They’re using more and more sources to research products and share opinions. In other words, it’s becoming increasingly challenging for businesses to truly know their customers.
Data-driven marketing is a way to use customer information to craft personal messaging and deliver better customer experiences. By having the right insights, businesses can anticipate the needs of their customer and deliver the right messaging and offerings at the right time.
Benefits of data-driven marketing
Targeting
It’s important to let go of hunches and gut feelings when it comes to marketing today. By letting your data lead you to your customer, you’ll discover a range of benefits. Some of these benefits include:
Targeting well-defined audience segments and offering tailored communications means a higher conversion rate.
In fact, 72% of customers only engage with brands that offer personalized communications. Customers are happy to share data, but what you do with that data will define your relationship.
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Lower and more impactful ad spend, enabling you to deliver personalized 1-to-1- experiences at a massive scale.
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Improve the customer experience and build trust by only offering relevant content, rather than intrusive, one-size-fits-all ads. Over 90% of consumers say they are more likely to shop with businesses that provide relevant offers and recommendations.
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Increased ROI. A lower marketing spend and more personal engagement means that you can expect a better return on your investment and increased lifetime customer value.
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Step up the data cycle and gain new insights to tweak processes and perfect your marketing campaigns. Real-time campaign data to continuously keep up with customers’ expectations.
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Discover the best channels for promotion, so that you can optimize those channels and provide experiences that stand out from the crowd.
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Increase customer satisfaction and drive long-term loyalty by using data to deliver what your customers need, when they need it.
Leverage AI
AI is here!
Leverage artificial intelligence to create frictionless journeys and personalise individual channel experiences. AI is not just the future – it’s already here. In fact, the State of Sales report shows that high-performing marketing teams average seven use cases for AI. Additionally, 70% of high-performing marketing teams have a clearly defined AI strategy, versus just 35% of underperforming teams. If you’re not already using AI, you may be asking your marketing team to do some unnecessary heavy lifting. You may also be using valuable marketing resources creating impressions that are unlikely to convert.