Over the last decade, data-driven marketing has gained tremendous momentum. With the internet, marketers can now collect data effectively. This way, they gain insight into the buyer’s behavior and emerging trends. Marketers have unlimited tools to analyze the data thoroughly as well as understand it better. That said, marketers can now use data to target the audience more accurately. They no longer have to depend on trial and error to know what works best.
So, what does data driven-marketing mean in 2020?
It simply means keeping up with the current trends. With lots of data collection avenues, marketers can shift their focus to current data. Data can also be packaged in the most helpful format. This means that marketing efforts can be more targeted. As a marketer, you’ll undoubtedly accomplish more with big data than you previously did. You’ll know which marketing channels are best suited for your campaigns as well as the customer demographics that will resonate well with your content.
Data-driven marketing will allow marketers to measure the performance of their campaigns. With the integration of numerous platforms, integrated results and reporting will give marketers an edge. This is because a marketer can use an integrated performance measurement dashboard. The best part is that it will capture all aspects of their marketing journey. The information will also be presented from one central unit. Some of the areas that will interest most marketers include search marketing, web marketing, e-mail marketing, and so on.
Strategic uses of marketing data
The application of data in marketing decision making will enable marketers to find more useful information to come up with their marketing strategies. Studying behavioral data can help them appeal to their respective audiences. Marketers can use data to identify the kind of content their audience expects. That means that it can be much easier to meet the customers’ expectations. What does this mean? Marketers are now better positioned to improve their e-mail, web, and social media content.
Challenges of data-driven marketing
Though data-driven marketing has the potential to yield great results, marketers will also have to contend with several challenges. For instance, big data can be overwhelming. You can collect so much of it that you don’t even know what to do with it. Marketers know exactly what to do with it and some of it will be completely useless. Moreover, without the entire marketing team understanding the data and interpreting it, a lot of it might go to waste.
How to leverage the data will pose another formidable challenge. Marketers may find themselves wondering how many platforms will be ideal for their marketing campaigns. They may be caught between a single platform and multiple platforms. New platforms will present a learning opportunity. It will take some time to learn how to use them best.
Nonetheless, data-driven marketing is a concept that most marketers will continue to embrace. For the most part, marketers who use it right will have an incredible marketing journey. Marketers must also focus on achieving more measurable results from their data-driven marketing endeavors.