Data-Driven Marketing: Concepts And Best Practices

data-driven marketing concepts best practices

Marketing is the key source of revenue for any small scale, medium scale, or large scale organization. Marketing adds new customers into your business which generates revenue. So, it’s safe to say that a good marketing effort will lead to a good amount of revenue and profits. The marketing scenario has changed leaps and bounds since a decade ago. Earlier, organizations used to market their products to a huge number of people through various channels like radio, television, banners, etc in hopes that they would find potential customers. Now, using Data-driven Marketing, you can target your potential customers and pitch your product to them which is a huge advantage. 

In this article, we will talk more about Data-driven Marketing, its advantages, and its best practices. This way you can increase your marketing impact with fewer efforts in your organization. For more information about the data integration process you can visit Hevo Data

Understanding Data-Driven Marketing 

Why pitch to any person that comes your way when you can pitch to people who may be interested in your product or service? Data-driven Marketing is all about finding potential customers through leads, understanding their needs, pitching it to attract them to use your product, and finally converting them into customers. This concept was initially introduced by Customer Relationship Management(CRM) software. The reason is that the CRM software had your customer data and using that data they could analyze what a person came to your website looking for. 

The concept is simple. If a person is going through your website or content, there is a good chance he/she is interested in your services. And this becomes your target audience for your marketing efforts. Once you know about a person’s personal and professional interests, you can pitch your products that match those interests which is called personalized marketing. To help you know about a person better there are some best practices that you can follow while implementing Data-driven Marketing strategies. We will discuss them further in this article. 

Advantages Of Data-Driven Marketing 

Data-driven Marketing has lots of advantages over traditional marketing. Let’s try to understand why. 

• Identifying Leads:  Data-driven Marketing identifies people that have a good tendency to buy your products or services. This way you can implement effective pitching strategies to convert them into your customers. 

• Personalizing Marketing Campaigns:  Personalization has a strong effect on the person you are trying to impress. Personalizing your marketing campaign will allow you to connect with your leads and can improve your lead-to-customer conversion drastically. 

• Identifying Needs:  Even if you do not have the service or product a particular person needs, you now know market demand. In this way, you can start developing a product and market it in the future. 

• Identifying The Best And Worst-Performing Features In Your Campaign:  There usually are many means through which you are marketing your product. So you need to identify which means is the driving force for lead conversion and you can also identify which means is not able to convert leads effectively. Hence you can spend some time and resources making changes to the least performing means. 

• Increasing Opportunities:  Marketing to a targeted audience will lead to an increase in opportunities for you. You will also observe an increase in cross-sell and up-sell rates. 

• Be A Part of Future:  Data-driven Marketing is already predominant. But it is the future of marketing. Without Data-driven Marketing companies cannot understand their potential and market need. So, try to implement Data-driven Marketing in your organization 

Best Practices For Data-Driven Marketing 

1. Identifying The Right Data Sources 

To know your target audience you must know the right data sources through which you can collect data. For this, you can use Customer Relationship Management Software, data from your free trial pages, traceable lead data from your websites and content, data from previous marketing campaigns, etc. Since you now know the right data sources all that you need to do is to collect relevant data from them. 

2. Collecting The Right Data 

Collecting Right Data doesn’t mean accuracy, it means collecting data that is useful for analysis. For example, for an online fashion retailer a person’s name, gender, contact, location, etc will be useful because if the person is a woman they can pitch feminine products. If the person is from a particular location you can pitch the most popular local clothing type. This is called a personalized marketing strategy and collecting the right data will help you understand people better. 

This data can be collected from CRM software using an ETL tool. Use Hevo Data, a no-code data pipeline that has 100+ integrations to choose from to load your data into your desired destination. 

3. Implementing Strategies 

Now you have data and your target audience so all you have to do is plan your marketing strategy and implement it. Try reaching out to the potential audience with personalized emails and various channels. Try to engage your existing customers with your services by pitching your different products or updates they may be interested in. Only through implementation, you can test the efficiency of your campaign. If you feel that something is lacking you can now make changes to it. 

4. Optimizing Content 

Reaching out to relevant people through content will be extremely difficult if your content is not optimized. A good digital presence of your brand and services is needed if you want to be noticed more. So make sure that whatever content you publish is optimized using Search Engine Optimation (SEO) techniques to rank high in Google search engine. 

5. Increasing Reach 

There is a constant need to increase reach. Try to identify various methods you can use to reach more people and market your product. Keep identifying the best marketing strategies and implement the same while looking out for more customers. 

Conclusion 

Hopefully, after reading this article you have a better understanding of Data-driven Marketing and the best practices you can follow to increase your efficiency of marketing campaigns. Implement Data-driven Marketing in your organization and see the change for yourself.

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