With the advancement of technology and access to a variety of tools and cloud-based platforms, marketing-related tasks can now be automated and streamlined. One of the newest trends in the marketing space is data. Marketers around the globe take data as the most critical asset in making any marketing strategy efficient. So, in this post, we will share with you 5 ways data and data science can fuel your online marketing strategy.
1. Makes Measuring Success Possible
Every online marketing strategy is based on predetermined goals and key performing indicators (KPI). These can range from building an email list and generating high quality leads to boosting conversion rates and capturing more sales. Once marketers launch the campaign, they cannot measure success and make timely decisions unless they take a look at the data. Therefore, it is essential to identify your marketing goal so that you can quickly identify which metrics to monitor to see how much a particular strategy contributes to achieving goals.
2. Identify The Best Performing Campaigns
Marketing budgets are often tight and maximising all marketing campaigns across all channels is not feasible. Chances are that even if you had the capabilities to do it, you won’t reach your goals before your budget runs dry. This is another scenario where data can fuel your online marketing strategy and decision making. You can closely monitor relevant metrics across all your internet marketing channels. The data you gather will provide you with insights into how each channel is performing.
3. Identify Patterns and Trends
The market and your competition are never idle. With change as the only constant, you have to factor this in when planning for your online marketing strategy to achieve your business goals. This is another area where data plays an important role. If you closely monitor the data related to your target market and competitors, you will be able to spot specific trends and patterns. You will then be able to use these data to develop a marketing strategy to align with your target audience more closely, thus generating more high-quality leads and boosting your sales.
4. Deliver Personalised Experience
Since we live in a customer-centric era where personalised experience plays a vital role in buyers’ decision process, it is quintessential to deliver customised offers to your target customers. And once again, data is your best friend. The marketers recognised the value of data in the CRM systems. Past customer interactions and purchases can help you reach them with tailored messages and offers. This is a great way to show your customers that you value and care for them, which will definitely reflect on the outcomes of your marketing efforts.
5. Fine-Tune Strategies In Real-Time
Gone are the days where the work stops after your marketing campaign has been launched. To maximise your marketing campaign’s effectiveness and get the biggest bang for your money, you have to fine-tune it in real-time. To improve the efficiency of any marketing strategy, you have to monitor the metrics and leverage the data to fuel your decisions in real-time. This is why doing online marketing without relevant tools is borderline impossible. The digital marketing tools are developed to gather data across different channels, analyse it, and deliver it via insightful reports and graphs.
We can say that data is the bread and butter of modern internet marketing. It is the number one asset that enables marketers to plan and execute marketing strategies and track performance across all targeted channels. At this point, it is safe to assume that data will continue to dominate this landscape and that we can expect to see more marketers using it in the future.