As you are aware that the entire world is struggling now to survive their businesses due to pandemic covid 19.
While most of the companies are focusing on reducing their costs and cutting 50% salaries.
You will be surprised to know that few businesses are growing well in the current situation.
And also they are hiring new talents and offering good amounts of increments to their employees.
Seems Awesome !
It is not difficult as most of the businesses are thinking, You need to understand the use of meaningful data to run your marketing campaigns. Now lets learn what is data driven marketing to grow your business.
Data Driven Marketing
What is Data Driven Marketing : Data driven marketing refers to the building of a strategy which is based on insightful data or information. This involves understanding data which are already available, data that can be arranged, and how to tabulate, organise, analyze and apply that data for better marketing efforts.
Key Benefits of data-driven marketing
The Key benefits of data-driven marketing is targeting the right consumers.
Identify the target market based on different segments like gio-locations, age group, their behavior etc
Ad spends and marketing campaigns can be optimized to be shown only to the right audience.
All of these key benefits result in significant ROIs for marketers.
3 Killer/ Data Driven Marketing Strategies
Data itself is a most valuable marketing resource. With the insightful information, you can create scalable, growth oriented marketing processes. It’s the dream of every marketer that their campaigns run on autopilot mode, so they can focus on the next strategy.
Now the major challenge that comes is most of the marketers don’t have the expertise to work with data effectively. They may not be aware about the use of data analysis tools or may not have the data analysis background.
Now, no need to worry. It’s good news for you that most of the marketers are stuck in the same boat.
Here are 3 data-driven marketing strategies that help you to run successful marketing campaigns in autopilot mode.
1. Use demographic data while planning to run a marketing campaign
As you are aware that there are huge demographic changes in the world based on locations, segments etc, sometimes businesses fail to consider lower income segments but now you can see many examples of small packing, like shampoo, noodles etc. and it is helping to increase their sales drastically.
Therefore, It is very important to consider demographic data while designing your marketing campaign.
2. Use Proven Channel for marketing Campaigns
Many marketers try new channels for their marketing campaigns but due to lack of traffic on new channels, fail to understand the segment of audience etc, they burn their hands.
It is very risky to explore a new channel from scratch while you have a proven model.
If you want to explore new channels then first do very limited marketing and need to start from scratch, don’t take any risk. You need to ensure before investing a single penny that you have the best chance to succeed.
3. Understand the impact of industry changes on your marketing campaigns
We are living in a technology driven world where in every second our lives are impacted due to continuous changes in technology.
As we know there are businesses who do not follow the constant changes in technology. They are either closed or fighting for survival like Nokia, Kodak etc.
Therefore for a successful marketing campaign you need to consider changes in the industries and evolve your product or services accordingly.
If Insightful data is used strategically, data can help any businesses to get smarter with their marketing. The three ideas above should be starting points for you to brainstorm your own data-driven marketing campaigns.