5 Ways Marketers Can Use Data More Effectively in 2019
Massive volumes of customer data are being generated every second. With the proliferation of internet-connected devices and the rise of omnichannel marketing, today’s marketers have access to unprecedented volumes of customer data holding a goldmine of customer insights.
A new form of brand-customer relationship is emerging based on customer behavior at every touchpoint in their engagement journey. Customer information is being captured at every stage in the buying process and marketers have the opportunity to optimize and personalize customer experiences at various digital touchpoints. To make the most of customer insights, marketers must be able to effectively analyze and channelize the data, foresee their customers’ needs and provide them a more personal touch.
According to research, businesses can deliver 5-8 times the ROI on marketing spend with data-driven personalization. The research also stated that up to 88% of marketers use data obtained by third parties to understand their customers better, 45% of businesses acquire new customers through data-driven marketing, and 40% of businesses plan to increase their data driven marketing budget. Here’s how you can use data more effectively in your marketing.
1. Update your data
Marketers must ensure that their data is up to date and in the right format. They must verify customer emails or map customer journies across various platforms to ensure whether or not campaigns are driving leads and sales. One of the latest trends is data onboarding. It involves in transferring offline data to an online platform for marketing requirements. It is used to connect offline customer information with online users by pairing information gathered from offline datasets to search or identify the same customers online. This is one of the most effective ways of staying up to date with customers’ latest information.
2. Integrate data effectively
Marketers must ensure that they integrate the various platforms they are using to provide them with reports to evaluate performance and optimize. This can be done by combining performance data from the web, email, social and search. You must also identify the various channels customers use. Combine their identity regardless of their channels and devices. Identity resolution helps in precise targeting, understanding customers, their interest level and apps, and personalizing.
3. Drive data-driven personalization
Instead of using data only for evaluating the performance, it can also be used for identifying which content serves the target audience. Use data driven marketing tools to gain insights and give customers a personalized experience. This can help enhance social media, email and web content. Some tools even conduct A/B testing to compare homepage experiences to see which one receives more consumer engagement.
4. Use data for omnichannel marketing
Consumers make purchases across various devices and channels. Therefore, one of the best ways for your brand to stick out is by omnichannel marketing. Omnichannel marketing involves using offline CRM customer data to increase brand awareness across all online social channels and even shopping websites. Consumer purchasing behavior is constantly evolving, and they make various purchases both online and offline, therefore it is essential to have an omnichannel strategy.
5. Artificial intelligence and machine learning
Most businesses are using AI, ML, big data and predictive analytics to enhance their products or services. For instance, Google uses AI and predictive analysis to autocomplete searches, LinkedIn uses machine learning to use the available data to give smart responses or recommendations, Facebook uses machine learning to increase their website conversion engine by purchasing data to learn and predict the audience response to offers. There are certain challenges marketers face with the vast amount of data, like organizing data, segregating data which is useful to them, choosing the right platform for using the data and investing on a new platform which can use the available data effectively. These can be overcome by selecting the right tools and right strategies.
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