If we go back in years, marketers were facing a constant challange of creating creative advertisments that they just had to know everybody would have to fall in love with and result in buying the product. In addition, even those creative marketing campaigns were mostly based on as in those days called the “spray-and-pray” method and what it basically means is that businesses would spread their marketing communications very broadly and then hope and pray that it reaches the right audience. In fact, a few decades ago we knew very little about our customers, we did not have information about their preferences, their decision making process, their engagements and interactions with brands at different touchpoints and we did not know what made them purchase or not purchase from us.
Nowadays, marketing has become more scientific and decisions that are made are mostly being driven by data.
The meaning of the term is really in the name itself. It basically means collecting and using information to drive your marketing decisions. This means that nowadays we are building massive information of data about the people who might want our products or services and the marketers task is to make decisions on solid numbers, by extracting detailed analysis of data monitored on daily basis and take action on modifications where it is necessary. The goal is to reduce the time it takes to reduce leads into customers while data works as a map to see where the customer is on the user journey.
We have been able to move from very a macro-level to a very granular level where we can even talk about the preferences of specific people and do personilized marketing. For example, 20 years ago we could only talk about our audiences in very broad categories such as – gender, age groups and location. Nowadays, on the other hand, we are able to talk about preferences, decision-making behaviour, specific interests, hobbies, household information, information with our brand different touchpoints if we are doing multi-channel marketing.
These days every platform is there to do and allow some segmentations to start tracking your results.
In today’s world we would say that the brands, businesses are actually very blessed because we know a lot of information about our audiences and it is all up to us to use this information to the best of our abilities. We are able to adjust marketing campaigns and communication so we are able to optimize the budget that we are spending on marketing campaigns and reach the right audience and increase our sales. We can be very scientific about our hypotheses and the campaigns that we run as a marketers and meet the consumers demand and really create personlized experiences for them.
1. Identify your most valueable segments
2. Be relevant to your customers with personilized messages
3. Run better performing campaigns at a lower cost
4. Analyse your data to find new opportunities
5. Increase the value of your database
6. Get marketing sales and IT on the same page
7. Introduce efficiences and automations to scale your business
The one of the marketing main rules is to get the right message to the right person at the right time in the right place. Sounds simple enough but it is really hard to do when people are interacting with your business accross so many different channels. Businesses have opportunities to communicate with their customers through social media, mobile, web, call centers, etc. The implementation costs can be significant especially for businesses that are only starting to integrate information techologies in their operation. However, once everything is set and the team has already adjusted, the transition will allow the company to make huge long-term savings. For this reason, it is important to understand the basic order of the steps that need to be made.
The aim is to understand what kind of sources or tools are used in your business in order to collect data about your customer. What tools are used to collect data for your business?
Once the data is collected you need to evaluate it’s relevance and create hypotheses around it. Adjust your marketing campaigns to do continous testing and experimenting until you meet your goals.
Use collected data in your benefit. Focus on not only driving traffic to a website, but stay „data-driven” and focus on the full customer journey. Marketers should use hard data and soft data – to track customers along the journey and to start experimenting on how to improve conversions along the way. Knowing how to use this all data now available for business and companies in most industries is a necessity to keep up with competition in marketing.
Create a campaign based on collected data
Check if your customer signed up at the first engagement
Will the user feel great user expereince and understand the core value of your product
Will customers come back and use your product again, becoming daily, weekly, monthly or yearly active users?)
What pricing strategies you can experiment with? What we can up-sell, what can we cross sale
Can your product reach positive virality?
With this article we want to encourage you to find your ideal client and make data-driven decisions. So you can keep up with the competetive global market as your business gains momentum.