What is Data-Driven Marketing?

Aim of this unit

Gain a better understanding of what data-driven marketing is and how relevant it is to every brand.

Section One

In this section, we look at what data-driven marketing is and how it is relevant in today’s society. You will learn about its importance to each brand and the need to examine it to make informed decisions to push the growth of your business. Plan

1. What is data-driven marketing?

Data-driven marketing is the utilisation of information gleaned from consumer interactions and third parties to obtain insight into customer motivations, preferences, and behaviours. Data-driven insights allow businesses to improve and customise the consumer experience.

“Without big data analytics, companies are blind and deaf, wandering out onto the Web like deer on a freeway.”

Geoffrey Moore, tweeted in 2012

Data-driven marketing is when marketing teams develop plans based on big data research. This study will provide insights into client preferences as well as broader trends that may affect the success of a marketing campaign.

While data-driven marketing was historically uncommon, the development of niche media outlets and changing customer expectations have made data analysis a crucial element in current marketing operations.

1.1 How is data-driven marketing relevant to my marketing strategy?

Data-driven marketing is a strategy that uses data to make decisions about which marketing campaigns to pursue. This type of marketing is becoming increasingly popular because it allows businesses to target specific customers with relevant ads.

By collecting and analyzing data, businesses can determine which demographics are most likely to respond to their marketing campaigns. As a result, data-driven marketing can be more cost-effective and generate better results than traditional marketing methods.

If you’re not using data to inform your marketing decisions, you’re missing out on a huge opportunity to improve your results.

1.2 What type of data are marketers interested in?

Marketers are interested in three types of big data: customer, financial, and operational. Each type of data is typically obtained from different sources and stored in different locations.

1. Customer data helps marketers understand their target audience. The obvious data of this type are facts like names, email addresses, purchase histories, and web searches. Just as important, if not more so, are indications of your audience’s attitudes that may be gathered from social media activity, surveys, and online communities.
2. Financial data helps you measure performance and operate more efficiently. Your organization’s sales and marketing statistics, costs, and margins fall into this category. Competitors’ financial data such as pricing can also be included in this category.
3. Operational data relates to business processes. It may relate to shipping and logistics, customer relationship management systems, or feedback from hardware sensors and other sources. Analysis of this data can lead to improved performance and reduced costs.

1.2 How is data-driven marketing beneficial to my brand?

1.3 Understand the different types of data-driven marketing

1.4 Examples of data-driven marketing in use

Section Two

In this section, we look at the need to align your data to your aims, objectives and goals. Only in doing this can we meet the ‘wants and needs’ of our target audiences. This will help reinforce our marketing plan and ensure we have a strategy to move forward. Research

What are the various types of intent?

Section Three

In this section, we examine who your customers are and what makes them wish to engage with your brand. Research

How to identify your customers?

What value do you convey to your customers?

Section Four

In this section, we examine the range of tools and channels available to businesses in order to communicate their marketing message. Implement

The fundamentals of customer experience

Understand the various tools and channels available to you as a brand

How to build out a sales funnel

Section Five

Review