5 Things You Need for a Successful Data-Driven Marketing Strategy
Data-driven marketing is more than just a buzzword, and many marketers think they should implement this strategy. But, what do you need and how can you get started? It’s not hard to get a data-driven marketing strategy going once you know the most important steps to take. By reviewing the 5 items below, you’ll learn what you need to make this strategy work for you. Here is what you need for data-driven marketing success:
- Data, of course!
The most important starting place is your data. If you have a customer database available, this is a good way to get going with your data-driven marketing strategy. Work with other departments to add information about your customers – past sales history, customer service phone calls, and other 3rd party consumer and B2B data that is available can help you understand and speak to your existing customers’ needs and wants. Another great option is to get a fully new targeted list of prospects pre-built to target your best audience. Either way, it is important to put the data first, since only with good data can you develop your marketing strategy.
- Updated information to reach your customers.
In addition to speaking with other departments to get further intelligence about your existing customers, it’s important to ensure that your information is up-to-date. Do you have all the right email addresses? If you’re doing a mailing campaign, are the mailing addresses all current? You could have a robust database already at your fingertips, but before you start a new campaign it pays to check your data for accuracy.
- An objective for your data-driven marketing strategy.
Think about what you’re trying to do – do you want to increase sales? Boost brand awareness? Bring in more foot traffic or sell more from your e-commerce platform? The goals you have in mind for your campaign should drive both your target audience and your call-to-action (CTA) for any campaign. With the data that you’ve now got available, at this point you should be able to divide your audience into segments, such as people who purchase often or those who haven’t made a purchase in a while.
Segmenting also can be done by age, income or other demographic or interest categories depending on the list you are working with and the type of information you’ve collected. Remember to choose an effective audience and plan your Call to Action for this group so that you can meet your objective.
Related: 4 Data-Driven Marketing Must Haves
- Analytics for customers and prospects.
While some marketers might think that once you have the data, you’re done, analytics is key to getting the best results. Analytics makes the difference between identifying a group of people you are guessing might make a purchase versus confidently knowing they are likely to do so. Before you decide to send out your first campaign, always consider this option – predictive analytics can boost your results up to 3 times!
- Metrics and insights.
Never send out a marketing campaign you’re not prepared to continue collecting data from, whether it means sending a follow-up email related to a click or creating a digital retargeting campaign for an item a person viewed on your website. The more data you have in your arsenal, the more you can do to continue reaching and converting leads. Track all of your results and use the insights you gain to create new audiences and better calls-to-action.
Remember that if you need help developing or implementing your data-driven marketing strategy, AccuData’s team of industry-leading data experts is here to help you meet your objectives.
What other techniques do you use to improve your marketing results?