The power of data-driven marketing
The 3 best tools of 2019 and how to use them
In the last 10 years, big data has become one of the most respected resources to make marketing decisions. The best marketers are already tracking their customers and their campaigns collecting relevant data. According to eMarketer, over 40% of brands are expanding their data-driven marketing budgets. This shows that data-driven marketing is one of the biggest trends and focus points at the moment.
In order to create relevant content and increase your sales leads you need the right information. Individualization of the consumer population makes segmentation for mass communication more difficult and hence the need for personalisation and direct marketing communication more important. So, collecting data from your customer behaviour, sales, orders and all the variety of sources is one thing. However, in most firms, these are separate systems and not every marketer has the tools and know-how to integrate these systems into one data warehouse. A recent study showed that only 8% of companies store all their data in one place. Do you want to improve your database and combine your data with data-driven marketing? We will tell you below!
Data-driven marketing, what is it?
Data-driven marketing is a strategy that is based on collecting and analysing secondary and primary data from online behaviour, interactions and data collected directly by surveying consumers.
Implementing data-driven marketing means using data about customers to drive marketing-related decisions. A data-driven marketer should have a good understanding of database technology, be statistical strong and have an appreciation of knowledge of the consumer.
In other words, data-driven marketing means registering consumer behaviour via several media and making predictions of future customer behaviour, using existing data of current customers.
The power of data-driven marketing
We know now what data-driven marketing is and that it helps marketers make better decisions. However, it has also proven to radically improve lead generation, maximize customer lifetime value, better match people to deals and being able to get the right price.
The following mind-blowing statistics show and prove the power of data-driven marketing:
- Data-driven marketing leads to increased conversion and customer acquisition according to 78% organisations;
- By improving the ad copy to target price-sensitive customers, conversions have been found to increase by as much as 200%;
- 74% of customers feel frustrated by seeing irrelevant content from;
- According to a Forbes study, 66% of marketing leaders have noticed an increase in customer acquisition by using data;
- 3 out of 4 of companies confirm an increase in customer engagement as a result of data-driven strategies;
- 33% of the best marketers admit that having the right technologies for collecting and analysing data is crucial in understanding customers;
- Companies implying data-driven marketing are 6 times more likely to be profitable year-over-year;
- Adobe did a survey about what adds value for marketers. The result was clear and mentioned that the top 3 ways of adding value for marketers were:
↳ The use of CRM data
↳ Real-time data from analytics
↳ Integrating analytics across channels
What tools should you use to get data-insights?
Now that you are convinced of the power of data-driven marketing, here are a few tools to help implement it. Each tool has a link to a whitepaper with all the information about the tool or systems and the whitepapers will show you the many advantages of the specific tool.
Data-driven marketing: Who’s done it right?
Now you know what data-driven marketing is, what the advantages of it are and which tools to use. But to really understand data-driven marketing we will look at a few successful customer cases. There are thousands of examples of data-driven marketing out there. As a matter of fact, the majority of the marketing messages are driven by data-derived insights. However, some brands stand out with their incredible success. Here are some of them: