Data-driven marketing is that type of marketing in which decisions are taken by analyzing data about and from customers. This way, the marketing strategy chosen by a business is going to meet the customers’ needs and expectations.
Nowadays, almost every advertising campaign uses data-driven marketing. Moreover, the modern world offers plenty of ways to collect data so that this information is very easy to obtain. This means that if you want to try a data-driven approach, you can choose from a large variety of tools that provide you the needed details for your marketing strategy.
However, there are still some things about data-driven marketing that are not often debated, and they are not usually revealed to the public from the very start. But if you think about this method of improving your marketing, you should be aware about the following aspects.
1. You will feel threatened at first
Before using data-based marketing, your decisions were taken based on what you thought that data shows. By using analytics and data tools, you may find out that what your intuition told you does not coincide with real data. If you need to make dramatic changes in your marketing strategy, it is normal to feel threatened at first.
However, keep in mind that the data obtained through proper analysis is going to contribute to the improvement of your business. 80% of specialists
recommends using data-driven marketing as an essential strategy for surviving on the actual market. If you want to keep up with your competitors, don’t let yourself intimidated by the data you receive. Try to understand it better and give it the best usage for your business.
Another important aspect is that this data can not only be used for a strategy, but it also offers you the power of making decisions. You can use it for enhancing these decisions, but it’s not necessary to make a dramatic change the minute you see this new information. You may start with a smaller step and observe the results of that particular change. This will boost your confidence in data-driven marketing.
2. The first step is investing
Even though the marketing strategies based on data are profitable for a company, as they increase its income, you have to start with investing. Analytic tools and experts’ opinion may cost you pretty much at first, but they will lead to a successful business.
Why asking for an expert advice? Well, even though the data is revealing concrete things, a strong data-driven marketing strategy involves more than just gathering personal details from the customers. You need to take into considerations other aspects and analyze all of them in connection with the obtained data, and then make a decision.
3. Data-driven marketing won’t save time
Many people think that after you have the data, you can take decisions about your marketing strategies in a few minutes. As it was already mentioned, a successful strategy requires a complete analysis of the data and many other aspects, which will definitely take some time. If you don’t make the appropriate connections between data and quality, customer service and other factors, and you rush to make decisions, your company’s profitability won’t be improved, and most probably, the money you have invested in the data analysis will be wasted.