In a jungle of content marketing, how do you stand out as a brand amongst competitors and prospects? Where should marketing be putting their effort, not least of all budgets, to be successful? Data-driven marketing is the success key.
The digital revolution has caused a dramatic change in how we practice and work with marketing. Social media has opened a plethora of new channels for marketers to be able to get their message out. However, we still see that marketers are doing the same thing with these new channels as they have done with print media and email marketing in the past — the “spray and pray” approach. Too much marketing and too little targeting.
Offering relevant and useful information and content, seamlessly across channels, to the right audience, provides great value and competitive advantages for businesses and brands. So what’s the recipe to follow?
In a market characterized by a high level of competition, customers and brand awareness, understanding a modern way of doing marketing is imperative. Traditional marketing has been replaced with digital marketing, where investment in data has become a central pillar of how businesses practice marketing – from purchasing of advertising to understanding the customer experience.
Systematic data-driven approach
Data has become an indispensable asset to your marketing success, and customer data is critical in marketing and advertising efforts.
Data-driven marketing should be top of mind for all brands and businesses, and investing in data reflects the importance between marketers and the customer experience. The success of digital marketing is without a doubt data. It’s not just about getting the data, but interpreting the data to be able to produce the right content and disseminate it through the right channels.
Having a systematic and data-driven approach to marketing is still new for many businesses. Many are far from where they ought to be, so in order to create the pipeline that organizations need, hard fact based decisions are essential.
We see more and more that those who lead businesses come less from a sales background and more and more from a marketing background. Marketing as a profession has become more scientific than ever, and successful marketers have a strong commercial understanding. These two competencies combined provide an excellent base for business decision making.
It might sound like a cliché, but we are only successful if our customers say so, and if we have a growing and profitable subscription base. When reports consistently show that data-driven marketing leads to improved performance across multiple channels, then the rationale for using data becomes clear.
Data-driven marketing is the key to customer success
Data and analytics help to increase sales, attract new customers and expand brand awareness. There are several ways to measure the ROI of analytics including a more effective budget allocation, identify the most profitable customers, improved value proposition and a better overall marketing planning.
This means that with a data-driven approach we can better meet our customers where they expect to be met, help create awareness and deliver quality leads, as well as supporting in an automated customer journey. Even though machine learning and AI will be at the forefront of future digital marketing, people will still be the most important investment.
We still need people, but the type of people that we need will perhaps look quite different than when we entered the profession.
Knowing your Kotler, Ogilvy and Porter will still be important, but having programming skills and a specialist competence within the field is the driving factor. This can be within managing online communities, content production, front end development and video production, will have a much larger role than they do today.
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This blog post is written by Digital Marketing Director in Visma Enterprise Shane King and Linn Skulstad.