How to implement a Data-Driven Approach to Marketing?

august 2018 Sebastian Gullak

With the growing accessibility, availability, and amount of information about customers and their buying behaviours and preferences, most businesses are starting to embrace and profit from the significant impact data yields in achieving better results, based marketing initiatives rooted on informed decisions. This approach is defined as data-driven marketing, which involves resting upon data in order to make informed decisions when it comes to marketing efforts. Rooted in customer data, analysis, and insights, data-driven marketing provides your company with delivering improved and more personalized experiences to its customers. Furthermore, such an approach secures your business in increasing lead quantity and quality, since it grants you to identify specific buyer personas, reaching them through higher personalized initiatives, which would generate better response rates, and support your business with lead scoring and lead nurturing. Ultimately, data-driven approach results to be the most efficient and effective methods to create and deliver customer experiences that will resonate with your customers, allowing your business to build a long-lasting relationship with its most desirable audience.

However, several businesses are still facing hurdles to successfully implement such a conventional approach, and integrate it within their marketing strategies. The main issue revolves around the amount of available data, and how to organize and manage it in an advantageous way. Not only businesses may dispose of a vast amount of data, which could be overwhelming, but they can also access them from a variety of sources, and customer data are also extremely time-sensitive. Nevertheless, by implementing the right strategies, adopting a few adjustments, organizational, and operational processes, your business would conveniently overcome the minor challenges data-driven approach entails. Moreover, marketing automation solutions and tools would provide your company with profitable tactics that would smooth the adoption of data-driven marketing approaches. They would also allow your company to rapidly process information and make data-driven decisions that would successfully impact all your marketing initiatives.

Crucial steps towards data-driven approach improvements

In order to adopt a data-driven approach, whether your company is considering implementing it, or seeking to improve the current data-driven strategy, there are some steps and recommendations your business needs to consider. The main takeaway, however, is that your company should be entirely committed to adapt and model its strategy on data-driven tactics, from top to bottom, dedicating its assets and capabilities towards the achievement of this goal, and start with:

1. Automating and integrating

As the imperative is to design a unified customer view. Therefore, all data collected, integrated, analyzed, and translated into valuable insights to achieve higher personalized marketing efforts. Automation tools would support your business in allocating resources to this task in a most effective and feasible way.

2. Collaborating across teams

Since data need to be accessible and shareable across the organization, and every team needs to have a general overview of the main insights, tasks, and goals. Being aligned, while maintaining high-quality data which are horizontally integrated, urge your business into creating teams working cross-functionally.

3. Monitoring industry’s changes

In today’s fast-changing and hypercompetitive market landscape, it is crucial to be constantly updated and to identify and anticipate trends and opportunities to grow. Hence, focusing on improvements internally, while monitoring markets’, industries’, and competitors’ transformations represent the foundation for developing strategies to become the agent of those changes.

4. Measuring constantly

Given the opportunity data-driven approach provides in settling tools and practices for data collection and analysis, another benefit is that marketing efforts may be constantly measured and proved against sought results. This grants your company the opportunity to highlight in real-time its marketing initiatives’ impacts, and rooms for improvements and to experiment accordingly.

By following these crucial steps, while implementing your data-driven strategies, your business would avoid incurring in organizational challenges and would achieve sustainable results, besides improving your customers’ journeys.