Data-driven Marketing: Why do numbers matter in brand campaigns?
Posted by Excollective on Sep 21, 2015
Data-driven marketing is a current ‘buzzterm’ in marketing strategies and campaigns. With data analytics raking in the numbers and interpreting them, companies and businesses are now better placed than ever to plan, plot and execute marketing campaigns. Get to know the answers to common questions on data-driven marketing, as part of digital solutions for your marketing strategies, and why data matters when it comes to making your brand campaigns work:
What is data-driven marketing?
The term is used to describe the acquisition, analysis and application of consumer data that reflects the needs, preferences, behaviours and motivations of consumers to buy. Data gathering may be categorised as primary (surveys and direct consumer feedback) or secondary (trends in browsing and social media interactions).
What can be done with this data?
Data on customer service, satisfaction and behaviours1 enable actionable insights into customers and prospective customers, which become a tool for crafting and targeting messages, offers and content for delivery to a select audience through a wide variety of channels.
A simple example is a customised campaign based on the survey responses of Australian men aged 20-35 regarding their grooming preferences.
How can I customise my marketing campaigns based on data?
Here are some benefits of using data analyses in customising campaigns:
- More accurate profiling of target consumers
- Predicting target consumers’ reaction to your brand messaging, product offers and experiential activations
- Acquiring and retaining consumers cost efficiently through targeted campaigns
- Foreseeing loopholes and drawbacks in campaigns during planning stages
- Ultimately creating the perfect product/experience for consumers
Data is all about numbers and percentages – can it bring human aspects to my campaigns?
While survey data is utilised to quantify, analyse and extrapolate responses, survey comments can also give you important qualitative insights.
Extending the above example, qualitative outcomes from the grooming survey might identify demand for an experiential event combining free grooming sessions and sample giveaways, which you can design according to what target consumers want and enjoy.
What are some of its long-term effects?
Through data-driven marketing, you create better knowledge that enables more relevant customer interaction. Your business can strategically pursue a multi-faceted and integrated customer-centric approach to communicating your brand and product.
Data-driven marketing not only means caring for your numbers, it also means that you are listening to your customers. By employing data-driven marketing and leveraging a wide range of delivery channels and promotional platforms (including website, social media and mobile), with creative content and offers appropriate to each (including e-commerce content and online display ads), you can establish and grow relationships that benefit your business and your customers and consumers.
Data matters! Communicate your brand and offerings through data-driven marketing! Check out exco’s Digital Solutions service and message us for more information!
1. Infographic: What Data-Driven Marketing Looks Like in 2015”. Adweek. Web. Accessed 10 September 2015. http://www.adweek.com/news/technology/infographic-what-data-driven-marketing-looks-2015-163607