First of all – happy 4th of July, CFS blog readers!
The CFS team wishes you a very relaxing holiday and I hope you'll all enjoy the fireworks, too!
All month long we'll be writing and talking about adapting to shifting markets. And today, I'm going to go over data-driven marketing: what it is and how YOU can use it to your advantage.
If you're a marketing leader, you'll definitely want to continue reading!
What is data-driven marketing?
Data-driven marketing is the process by which marketers analyze company-generated market data and translate insights into actionable goals.
It's all about optimization – and who doesn't want that?
Globally, businesses collect more data than they know what to do with. That's why you're seeing articles pop up on “data scientists” and their innovative ways of translating multitudes of information into useful resources.
In data-driven marketing, you're simply recognizing trends and consumer demands and pivoting your strategy accordingly.
Are you really addressing consumer needs? Are they engaging with your content?
Ask yourself key questions while exploring your analytics.
How Can I Use Data-Driven Marketing To My Advantage?
For one, turning to data-driven marketing will help you improve all targeting efforts.
If you're not looking at the right information (or, at any information at all), you won't know who's engaging with your content, at what time and for what reason.
However, if you take a look at the data and choose to enhance that customer's experience, you're guaranteed to develop a winning formula (so long as you continue to pivot according to their needs!)
Take it a step further by seeing what type of messages consumers respond to the best via A/B testing. This way, you'll be able to figure out what projects are worth prioritizing for the best ROI.
Instead of relying on assumptions, data-driven marketing helps you to discover the facts.
And what's better than a consumer testimonial?
Innovate, Innovate, Innovate!
Don't be afraid to take a risk.
Data-driven marketing encourages innovation! You need to get creative, that's what today's consumer expects.
How can you better address their need or problem? Is there a process you can automate?
Are trends telling you something you ought to listen to?
Solicit customer feedback and pursue your options. Companies that stay on top of that won't sink. In an ever-changing world, that information can set you aside from your competitors.
And remember, a few steps go a long way! Since I mentioned fireworks in the beginning, perhaps the following quote will inspire you on your journey towards improving all marketing efforts:
“You just gotta ignite the light and let it shine.” — Unknown
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