What Is The Importance Of Data In Powering Marketing Strategy?

DSM Digital School of Marketing - marketing strategy

In this day and age, there’s absolutely no excuse for not understanding what your customers want. There are now a broad variety of tools which enable marketers to capture a range of data at specific stages in their marketing strategies and campaigns. Gone are the times of mass, untargeted broadcasting. The digital age has created broader reach and the ability for your marketing strategy to pinpoint targeting accuracy.

Users are highly mobile and yet totally dependent on their handheld gadgets in order to stay connected. Marketing strategy today is driven by data-backed research as well as customer information that can be captured at every single stage in the buying process. We don’t need to guess what individuals want. It’s just necessary for us to know where to look.

Marketing strategy needs to be data-driven to be effective. If you know your target user’s behaviour, goals, pain points as well as challenges, you are able to develop marketing campaigns which cater to their specific needs. Data – for example a user’s browsing patterns, social media interest, online purchase behaviour as well as other metrics – can assist you to focus your marketing efforts on what actually works. So, collect as much information – about your target market – as you can. This data will be at the heart of any successful marketing strategy.

How Big Data Is Transforming Marketing And Sales

In marketing, big data consists of gathering, analysing and utilising massive amounts of digital information in order to improve business operations, such as:

  • Getting A 360-Degree View Of Their Audiences

The notion of “know your customer” (KYC) was first conceived many years ago to prevent bank fraud. KYC provides insight into customer behaviour which was once limited to large financial institutions. Now, owing to the accessibility of big data, the benefits of KYC are available to even small as well as medium organisations, thanks to cloud computing and big data.

  • Accurate Customer Engagement Data

Customer engagement, particularly how your customers view and interact with your brand, is a key factor in your marketing efforts. Big data analytics provides the business intelligence that you need in order to bring about positive change, such as improving existing products or increasing revenue per customer.

  • The Role Of Brand Awareness

Brand awareness is another way that big data can have a significant impact on marketing. Data-driven retailers enjoy an increased annual jump in brand awareness by 2.7 times (20.1% vs. 7.4%) in comparison to all others.

The 360-degree view from big data gives marketers the opportunity to present customer-specific content when and where it is most effective in order to improve online and in-store brand recognition as well as recall. Big data allows you to be the Band-Aid of your product category even if you don’t have the marketing budget of Johnson & Johnson. Big data analytics is an essential component of big data. It provides business intelligence that results in time and cost savings by optimizing marketing performance.

Get in touch with the Digital School of Marketing

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DSM Digital School of Marketing - Marketing Strategy