Data-Driven Marketing strategies to achieve a successful approach

March 2020 Jesper Reinholdt

The digital era, among the several advancements it has brought, has granted companies, and particularly marketers, with more and more quantities of information about their customers. Consumer-based data are nowadays one of the most valuable resources marketers can benefit from, especially when it comes to processes implementation, scalability, repeatability, and actionability. As a matter of fact, holding more nuanced and increasingly detailed information about your customers secures your marketing initiatives to be more relevant, tailored, consistent, and to resonate more with your audiences. Moreover, data analysis and insights conjugated with the right technology mix would support processes and campaigns through marketing automation.

As a strategic approach, data-driven marketing is increasingly considered as a must-have asset for most businesses, regardless of the industry they operate in. Given the current hypercompetitive landscape, adopting data-driven marketing tactics and relying on data and insights represent a sustainable source of competitive advantages. Data-driven marketing consists in reshaping and orienting all your marketing efforts on insights retrieved from customers. Those data include both direct and indirect data, from demographics to individual interactions. Aiming to craft more timely, consistent, and appropriate campaigns, data-driven marketing seems to be the most profitable option, given that it heavily relies on customers’ data, attitudes, habits, online behaviours. Hence, data’s potential is unique, and it supports businesses in providing significantly more relevant marketing efforts, allowing them to track performance and react accordingly, besides abandoning the traditional guessing decision-making process in favour of a set of more actionable decisions grounded on data. This, in turn, optimizes marketing efforts since your business will be able to answer the individual needs, demands, expectations of its customer, engaging with them in a trustworthy, long-lasting relationship, boosting their interests by delivering what they need. Intuitively, it goes without saying, that data-driven marketing enhances the effectiveness and efficiency not only of your marketing initiatives but of your organization itself. It is demonstrated to positively impact over ROI, maximizing personalization, crafting successful customer experiences, supporting funnel and sales efficiency, improving conversion rates, and securing your business with an enduring competitive advantage within a fast-changing marketplace.  Lastly, the availability of several tools, platforms, and technology, and the possibility of accessing a wide range of data sources make data-driven marketing a simple to adopt the approach.


Data-driven marketing successful strategies to implement

By adopting data-driven marketing strategies, built on data and insights which are, in turn, grounded on the analysis of customer interactions with your company, your company would achieve superior results, optimizing personalization and customer experience, and transforming itself in a more customer-centric organization. Hence, customer retention and loyalty would be significantly fostered, allowing your business to sustain and survive the hypercompetitive market landscape. Among a variety of data-driven marketing strategies that could be implemented, retargeting, dynamic advertising, optimized paid search, and targeted email campaigns stand out.

Retargeting consists of crafting data-driven advertising in order to target potential customers, which have already been exposed to your marketing initiatives and have not proceeded further in the sales funnel. Considering the consistent and constant bouncing from different devices, platforms, customers might sometimes need a sort of nudge to remind them about your offering, based on their online behaviours or past purchase histories. Retargeting allows your company to provide customers with relevant advertising on products they already showed interest in, boosting potential leads, regardless of where they are in their customer journey. Dynamic advertising, on the other hand, provides your customer with highly-tailored, relevant, and consistent offerings that are demonstrated to foster retention, reach, and ultimately ROI. Dynamic advertising also grants your company to provide content and campaigns to customers that have a greater potential to convert into actual buyers. Moreover, this strategic approach allows your company in starting dialogues with your audience, through different channels and touchpoints, nurturing long-lasting relationships with your consumers. When it comes to optimized paid search, data represent a sustainable and feasible source for optimizing search, creating tailored content, and drive high-quality traffic to your website. Knowing what your audience searches for, through detailed insights such as keywords analysis, would allow your marketing efforts to be significantly more consistent and based on your customers’ point of view, needs, and expectations. Lastly, targeted email campaigns result to be extremely valuable in increasing and maximizing personalization, establishing direct conversations with your individual customers. Providing your customers with timely and relevant content, based on their attitudes and preferences, nourish a trustworthy relationship with your audience, and impact over your customer-centricity and customer experiences. In today’s hyper-connected digital panorama, it is crucial to delivering the right message, to the right audience, at the right time, through the right channel, and targeted email marketing grants your company to.

Such strategies, which are just a broad outline of data-driven marketing’s opportunities, would not only yield improved results and outstanding competitive advantages, both in the short and in the long run, but they would also concede your business to become more and more customer-centric, staying connected with your audience and perfectly mirroring their needs and expectations.