True data-driven marketing is based on the analysis of data collected from a brand’s every consumer interaction and engagement. Insights from the data are translated into actionable decisions that answer the demands of your customers and provide a more customized experience. Therefore, the quality of data plays an important role in every aspect of your business and allows you to base your actions on facts, rather than blindly guessing what your customers and prospects want or need.
When properly planned, tracked and executed, data-driven marketing campaigns are an excellent learning source, providing valuable information for future campaigns. So, if you’re looking to use data to execute smarter campaigns, keep these five best practices in mind:
1. Take a hard look at your house file
If you’re like most brands, you’ll use a significant percentage of your budget marketing to customers you’ve already acquired. These campaigns will typically be your most profitable, so before you roll out a new campaign, ensure that your house file data is clean, accurate and complete:
- Hygiene your data regularly, to ensure you are working with the best version of your data available.
- Leverage Data Enrichment to understand more about consumer behavior and overall preferences.
- Foster regular engagement via multiple channels with all active customers.
- Develop a strategy for addressing lapsed or unresponsive segments.
2. Segment your most profitable customers
You already know that not all customer value is created equal.Your high-value segments are your most important assets, so treat them as such:
- Build loyalty with our best customers with an exclusive offer just for them.
- Create content that addresses their specific needs.
- Use them as a model for acquisition strategies.
3. Target smarter
Seek out new customers who are similar to your most valuable segment. Understand what data attributes are unique to them, and leverage those elements when targeting:
- Define your target market and audience.
- Model off your best customer and prospect segments for additional reach and scale.
- Engage with targets using a multi-channel approach including Email, Direct Mail, Social, Display, Mobile, OOH, and Advanced TV.
- Refine and expand your audiences based on response and conversions.
Maximize your opportunities for success
By collecting data at different touchpoints, you can predict behavior patterns, make real-time marketing decisions and establish clear and measurable goals to gauge your success. Try implementing the following:
- Make sure you have the proper tracking, measurement and attribution tools in place prior to launching any new product or campaign.
- Develop a compelling offer that incentivizes customers to make a purchase.
- Consider making your offer redeemable across channels.
- Create a well-designed landing page with tracking by source.
Measure, evaluate and modify
If properly rolled out, data-driven campaigns can reveal your biggest sources of traffic (and revenue). But to facilitate constant improvement in your campaign, don’t make assumptions. Identify the metrics needed to determine success, test your data and use the results to improve your strategy. For example:
- Compare different marketing channels and their conversion rates.
- Use different subject lines or article titles to see how the results stack up.
- Create a strong message and leverage personalization where possible.
- Refine your call to action to improve responsiveness and conversions.
Marketing success is faster when fueled by facts.
Data is the driving force behind your marketing. By implementing strong, data-driven marketing plans, you can take the guesswork out of your efforts and create a marketing strategy that resonates with your customers — and benefits your ROI.
For the smartest data, you need a strong partner in your corner. The Specialists Marketing Services team can help. Reach out today.