According to a Insights Report, which surveyed 162 U.S.-based senior executives, a “ 64% of survey respondents ‘strongly agree’ that data-driven marketing is crucial to success in a hyper-competitive global economy.” While both executives and marketers enjoy the benefits of data-driven marketing, there are still a lot of hurdles in this path.
2. According to a Insights Report, which surveyed 162
U.S.-based senior executives, a “ 64% of survey
respondents ‘strongly agree’ that data-driven
marketing is crucial to success in a hyper-competitive
global economy.” While both executives and
marketers enjoy the benefits of data-driven
marketing, there are still a lot of hurdles in this path.
For example, “data stemming from disparate
providers, disconnected systems, varying internal
teams, incongruous accountabilities can prevent
marketers from reaching the right consumers with
relevant message at the right time.
To resolve these issues, you can create a data-driven
marketing strategy by implementing the following
techniques.
01
INTODUCTION
3. Good marketing strategies start with proper
handling of data. However, it is only possible
when there is a proper sync between the cross-
departmental teams.
Every team has its own importance. However,
there should be a continuous circulation of ideas
to and fro within the team.
Finally, assembling these ideas and information
and sharing the credit for success will motivate
and enhances the spirit of the team.
02
ASSEMBLE YOUR TEAM.
4. DATA GOES BEYOND NUMBERS.
03
“Data and numbers have a deep meaning
beyond just their numeric values. You just need
to understand what your goal is and the KPIs
that will impact those goals. This would make
your data points tangible than just simple
numbers on a spreadsheet.
5. Do you know that “90% of twitter users who see any
tweet of their interest, immediately follow it and
further tweets on it?” Similarly on various other
platforms, users become interactive when they found
right things on right places. Likewise, photogenics
found it more interesting to spend their time on
Instagram rather than any other media.
04
IDENTIFY THE RIGHT CHANNELS
6. Dominic Barton and David Court remind us on
McKinsey & Company that “Data are essential, but
performance improvements and competitive
advantage arise from analytics models that allow
managers to predict and optimize outcomes.” When
building this model you don’t start with the data.
Instead, identify business opportunities and the
models can improve performance.
We can state that such hypothesis-led modeling
generates faster outcomes and roots models in
practical data relationships that are more broadly
understood by managers.”
05
BUILD MODELS TO PREDICT AND OPTIMIZE BUSINESS
OUTCOMES.
7. When people use your data or information to build
reports or case studies, it becomes prominently
essential to be as close to perfect as possible while
digging the data.
Your strategy must have a point where your data is
vetted by a third party, may be a researcher or a
professor before you go far with your data.
06
MAKE SURE THAT YOUR DATA IS ACCURATE
8. “Data alone can’t form a marketing strategy.” Data
analysis is far more important. What if you provide
awesome automobiles to a customer who is
interested in apparels? Of course, all your information
will go in vain. You can’t just attract the customers
with loads of data. It should be of their interest.
07
CREATE CONTENT FOR CUSTOMERS
9. 08
KEEP ON TESTING.
Start with the data.
Ask a question of what information you have
available to you.
Construct a hypothesis.
Test with an experiment.
Confirm the test/procedure worked as planned.
Analyze the data and draw conclusions
Present results and determine the next steps
We can use the scientific method when testing
which includes;
Data when used as a marketing tactic has to be
frequently tested and manipulated. We can do it each
day to avoid any misconception and be on a safe side.