There’s one certainty regarding the increasing number of innovations we enjoy today, and it’s that they provide us with a great number of new options for approaching and accomplishing any given task. Naturally, this usually means that the old school methods get pushed to the side, especially if they aren’t as effective as the bright shiny new practices and strategies.
Take the world of marketing, for instance. There was a time when gut feelings and instinct were the main tools that experienced marketing professionals relied on as they endeavored to put together effective ad campaigns. Times have changed, and the old ways are being supplanted by the latest advances in data collection and access.
It’s the age of data driven marketing.
Data driven marketing eliminates guesswork and replaces it with facts and numbers, making for more successful campaigns
What Exactly IS Data Driven Marketing?
Put simply, data driven marketing is defined as marketing insights and decisions that result from the collection, integration, and analysis of data. Rather than relying on hunches and guesswork, marketing professionals are able to make informed decisions based on information gathered from external and internal sources.
This information can be gathered from customer surveys, online consumer panels, gathering information on online searches, tracking web browsing behavior, or following interactions on social media.
Yes, Big Data Figures Into This
It should come as no surprise that Big Data is connected to data driven marketing. After all, if you think about it, the massive collection and analysis of data from a wide variety of sources is practically the definition of Big Data. So it seems that all of the hype is true: Big Data is truly everywhere.
In fact, if you check out the article “Data Driven Marketing via Data Unification”, an informative piece that touches upon some of the challenges of data driven marketing, you’ll see Big Data referenced as something that needs to be brought together in order to increase marketing results.
So How Do You Use Data Driven Marketing?
It’s all well and good to sit here and blow a horn announcing the importance of data driven marketing, but more is needed, specifically practical information on how to fit it into your business plan. Follow these simple steps and your business can have a data driven marketing strategy all its own.
- Take Stock. Determine what data assets you have to work with, such as CRMS, monitoring tools, application builds, and analytics.
- Set Goals. Using that data that you have taken stock of, set up a series of goals, things like increases in website visits, conversions, membership numbers, etc. Tools like the unscrambler help managing these goals.
- Create A Plan. Create a strategy that you will employ to meet those goals.
- Execute the Plan. This is the part that you can’t control. This is where the proof of the pudding comes into play. You put the plan in motion and see what unfolds.
- Adjust Accordingly. Once you get data back that shows you the results so far, make modifications based on that information.
Informed Strategies Are Successful Strategies
Plans made based on extensive and readily available information are infinitely better than plans created based on hunches and guesswork. The stumbling block has always been finding a means of collecting and processing all of that information in order to make those informed decisions. Today, those tools are readily available. In fact, you can check here for apps that help get the most out of Big Data.
It won’t take long for data driven marketing to become the norm. As more evidence of its effectiveness piles up, more businesses will choose this method of reaching out to customers.