Data plays a critical role in building a marketing strategy. To develop an effective promotion or sales plan, it is necessary not only to have sufficient knowledge, but also to have enough incoming data for analysis.
knowledge + data = effective marketing
Quality information is essential for making marketing decisions. In modern business, relying solely on personal experience and intuition is too risky: in most cases, this leads to a loss of competitive advantage.
Today we will look at 4 rules of successful data-driven marketing (data-driven marketing). Do not understand what is property directory, learn more by clicking on the link.
1. Have a direct dialogue with each client
Communication is the basis of marketing. Most often, companies “communicate” with customers through mailings, outdoor or TV advertising. But classical methods of communication are inferior in efficiency to new technologies that allow you to target and even personalize advertising offers. Thus, you can establish a direct dialogue with each individual client.
2. Apply Metrics
In marketing, metrics are indicators, indicators that can be used to measure literally everything, including:
- • consequences of marketing decisions;
- • funds necessary for the implementation of marketing solutions;
- • value of goods or services;
- • value of consumers;
- • value of distribution channels;
- • financial aspects of marketing solutions;
Everything must be measured. Any activity should have several metrics, an unambiguously interpreted KPI, and a control group. We cannot measure the result - we do not implement the activity.
3. Adjust to the market
Did you manage to increase conversion, sales, find a new approach to customers? Fine! Record the result and move on. The market is constantly changing: tactics that “yesterday” helped you to be on the crest of the wave, “today” may no longer work.
It is important to regularly evaluate the effectiveness of marketing campaigns, study demand and loyalty indicators, the level of inflow and outflow of customers - that is, to carry out mathematical calculations based on the available data. Fortunately, today there are many simple and convenient tools for this with cool visualization, which significantly reduces the time for making decisions.
Constant monitoring of “yesterday's” achievements will allow “today” to quickly respond to changing situations, and “tomorrow” to achieve new, better results. Do not understand how find people fast and free, learn more by clicking on the link.
4. Find and implement new criteria for data analysis
For effective analysis, you need to constantly change and improve algorithms. Ideally, they should always keep up with the times in order to correctly process new data from new sources.
Existing data processing methods and algorithms lose their relevance with every second of time , so they require constant modification .
Since people are still involved in training programs for data analysis, a well-developed intuition can be a good helper for creating new evaluation methods and developing unique offers. And these are the very tools that make modern marketing and your business successful!
