Marketing has been undergoing a fundamental change for some time. Elite marketers have been rethinking and reiterating their strategies, using increasingly sophisticated data. and this trend has been further accelerated by the pandemic.Consumer behaviour has changed significantly since the pandemic began. Between March and August 2020, 70 per cent of consumers tried new digital shopping channels. Such significant changes have rendered many existing data models invalid. Data-driven marketing offers new insights into consumer behaviour and can render huge impacts in refining and enhancing marketing strategies. So, why should you care about data-driven marketing? Offers better clarity about the target audience 67 per cent of lead marketers agree data-based decisions beat gut instinct. Data-driven marketing allows marketers to quickly filter through data and determine the most relevant and accurate action to take. With the right data, marketers can assess customer data to predict behaviours, identify buying patterns and spot emerging trends. Data-driven marketing can also reveal new channels and open up new avenues which organisations can use to engage with audiences and increase revenue. Increases revenue The last 18 months have been tough for businesses, yet through the use of data insight, marketing teams have been able to get ahead of emerging trends. Data-driven campaigns have pushed significant customer acquisition. Better insight into consumers and the channels they use enables organisations to improve their marketing strategy. Indeed, companies that deploy data-driven marketing are six times more likely to remain profitable year-over-year, and 78 per cent of organisations agree that data-driven marketing increases customer acquisition.PersonalisationIn the modern world, advertising is everywhere, and it is endless; consumers see it on their phone, their TV and even on their way to work. Without target advertising campaigns, organisations risk aggravating consumers. 74 per cent of customers already feel frustrated by seeing irrelevant content from brands. To stand out, marketing channels have become more complex. Marketers need to remain creative to capture consumers attention and data driven marketing can help achieve this.Data-driven marketing allows businesses to target specific demographics and user groups at an individual level. By targeting specific user groups at an individual level, marketers are able to use personalised marketing campaigns to build stronger and more meaningful connections with potential customers.With individual customer information, brands can segment a target market and ensure personalised messages are falling into the right place. Data-driven marketing is also able to identify potential customer triggers and create a holistic view of the target audience. This style of personalised marketing campaign makes for a more positive customer experience, and therefore represents excellent return on investment.Data has the potential to become an incredibly valuable resource in marketing. Data soothes the pain points which many marketers face on a day-to-day basis, and help teams to refine, enhance and improve strategy. In a post-pandemic world, data-driven marketing will undoubtedly be essential. To stay competitive, internal marketing and insight teams need to start taking notice of data-driven marketing. Here at Harnham, we understand the importance of data-driven marketing to determined campaigns and guide decisions. So, if you’re looking for your next opportunity or to build your Marketing & Insights team, we can help. Take a look at our latest marketing and insights jobs or get in touch with one of our expert consultants to find out more.
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