How Data Driven Marketing Can Improve Brand Return
While data can be a minefield of opportunity for marketers, it can also be overwhelming. Here are some ways you can dissect your data to learn customers’ buying intentions and develop marketing strategies to make the sale.
1. Dig for Data
Data is sometimes hidden within your organization. Some common places might be with your sales team, call center, and inventory numbers. Dig it out so it can be put to good use. Establish a unique customer identifier to connect different data sources at the customer-record level. Then, you can directly connect customers to various actions. This will help you learn valuable information like what delivery method motivates customer action.
2. Mix it Up
Your internal data can also be supplemented with external sources. Because customers are multifaceted, internal data will help you build the skeleton, but you will need to develop profiles to flesh out what your customers really look like.
External data sources, such as consumer demographics, regulatory filings, and credit ratings, will add depth to your customer profiles. Then, with the data you’ve collected you can segment, or select customers by behavior, particular demographics, profitability, or other metrics. That will help you speak to customers in more relevant ways.
3. Enrich your Data
You can feed customer interactions into your database to deliver well-timed and relevant communication to your customer or prospect. This can be done through a campaign management system and can be helpful in a number of ways. Let’s look at some examples:
- A normally active customer that goes inactive for an extended period of time may signal a retention risk. You can build an alert system that will trigger a communication after a period of inactivity to check in with the customer, re-establish your brand value, and solidify the relationship.
- A customer that makes an additional purchase or refers a friend is sent a thank you communication or a promotion to reinforce the behavior.
Data-driven marketing drives you directly to the customer. From there, every tweak of the creative elements or comparison of communication channels will be guided by what the customer is telling you. Your job as a marketer is to listen up.
To find out more about the benefits of data-driven marketing, call us at 602-243-5777; ask for Sandy Mattson.