7 COMPONENTSOF ANOUTSTANDINGDATA-DRIVEN

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MARKETINGSTRATEGY

According to a Insights Report, which surveyed 162U.S.-based senior executives, a “ 64% of surveyrespondents ‘strongly agree’ that data-drivenmarketing is crucial to success in a hyper-competitiveglobal economy.” While both executives andmarketers enjoy the benefits of data-drivenmarketing, there are still a lot of hurdles in this path.

For example, “data stemming from disparateproviders, disconnected systems, varying internalteams, incongruous accountabilities can preventmarketers from reaching the right consumers withrelevant message at the right time.

To resolve these issues, you can create a data-drivenmarketing strategy by implementing the followingtechniques.

01

INTODUCTION

Good marketing strategies start with properhandling of data. However, it is only possiblewhen there is a proper sync between the cross-departmental teams.

Every team has its own importance. However,there should be a continuous circulation of ideasto and fro within the team.

Finally, assembling these ideas and informationand sharing the credit for success will motivateand enhances the spirit of the team.

02

ASSEMBLE YOUR TEAM.

DATA GOES BEYOND NUMBERS.03

“Data and numbers have a deep meaningbeyond just their numeric values. You just needto understand what your goal is and the KPIsthat will impact those goals. This would makeyour data points tangible than just simplenumbers on a spreadsheet.

Do you know that “90% of twitter users who see anytweet of their interest, immediately follow it andfurther tweets on it?” Similarly on various otherplatforms, users become interactive when they foundright things on right places. Likewise, photogenicsfound it more interesting to spend their time onInstagram rather than any other media.

04

IDENTIFY THE RIGHT CHANNELS

Dominic Barton and David Court remind us onMcKinsey & Company that “Data are essential, butperformance improvements and competitiveadvantage arise from analytics models that allowmanagers to predict and optimize outcomes.” Whenbuilding this model you don’t start with the data.Instead, identify business opportunities and themodels can improve performance.

We can state that such hypothesis-led modelinggenerates faster outcomes and roots models inpractical data relationships that are more broadlyunderstood by managers.”

05

BUILD MODELS TO PREDICT AND OPTIMIZE BUSINESSOUTCOMES.

When people use your data or information to buildreports or case studies, it becomes prominentlyessential to be as close to perfect as possible whiledigging the data.

Your strategy must have a point where your data isvetted by a third party, may be a researcher or aprofessor before you go far with your data.

06

MAKE SURE THAT YOUR DATA IS ACCURATE

“Data alone can’t form a marketing strategy.” Dataanalysis is far more important. What if you provideawesome automobiles to a customer who isinterested in apparels? Of course, all your informationwill go in vain. You can’t just attract the customerswith loads of data. It should be of their interest.

07

CREATE CONTENT FOR CUSTOMERS

08

KEEP ON TESTING.

Start with the data.Ask a question of what information you haveavailable to you.Construct a hypothesis.Test with an experiment.Confirm the test/procedure worked as planned.Analyze the data and draw conclusionsPresent results and determine the next steps

We can use the scientific method when testingwhich includes;

Data when used as a marketing tactic has to befrequently tested and manipulated. We can do it eachday to avoid any misconception and be on a safe side.

THANKYOUREMEMBER,

THE FASTER YOU SEEWHAT WORKS,

THE FASTER YOU’LL BE ON YOUR WAYTO GROWING YOUR BUSINESS.

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