Competition in this global economy of ours is fierce, and you have to do everything you can to stand out when marketing your products and services. This is where data-driven marketing comes in to help narrow your focus to individuals who are more likely to want and need what you have to offer.
It seems like we hear the term big data all the time but what is it really? Big data refers to processing vast amounts of information to determine patterns of behavior, preferences, activities and personality traits. In marketing, this is hugely beneficial. Have access to large amounts of data and being able to analyze and target data that is specific to your audience makes your marketing efforts more efficient.
Using this method of targeting yields you greater sales, more customer satisfaction, loyalty, and retention. Walmart is an excellent example of a company that has learned through using customer data to improve their marketing efforts and appeal to specific customer groups.
Using a proven marketing method called SMART goals will ensure your success. The acronym SMART stands for: specific, measurable, achievable, relevant, and time-bound. When sitting down to formulate your expectations for growth, you need to consider all of these elements together. Once you have a clear plan, executing it will be that much easier and attaining those goals will be easier.
The next step is to know who your perfect customer is and what traits, behaviors or preferences make them want your products and services. Once you have profiled your target audience, it is time to identify those customers and start collecting data.
For example, if your product is targeted towards young women in their twenties, you won’t want to email or create advertising for older women or men. Access to big data helps you to seriously narrow down your focus and plan your approach accordingly.
Now its time to start collecting your data. There are various methods for compiling customer data to analyze. In some cases, it makes sense to perform market research and use customer surveys. Another great resource is tapping into public records portals to pull specific demographic data. These are storehouses with volumes of data on every individual in America.
Once you have your data, you can then begin to build your marketing campaigns for each target audience. Big data usage is not a one-off, and you can use it over and over to respond to changes in your industry and continue to refine your marketing approach.
Instead of e-blasting a bunch of strangers why not use the power of all that data and send personalized emails to your customer base. Using data-driven marketing, you can take your email campaigns to the next level and beyond. Personalized emails are shown to be much more effective, and consumers respond when they feel like it is targeted just to them.
The best approach is to segment your audience into small groups based on age, location and other demographic traits. Then customize your email to connect with that audience personally. Be sure to include calls to action to promote sales. This method works great to reconnect with previous customers that may have forgotten all about you.
It has probably happened to you; you are browsing the Internet when suddenly an ad pops up for something you recently looked at on Amazon or some other retailer. This situation shows the power of data-driven advertising and targeted marketing. It’s subtle, but Amazon knows that you had interest in that particular product at some time, so they are gently reminding you about it. This type of engagement works and sells.
Demographically targeted ads work great on Facebook or Google. Other approaches include banner and display ads that show only on pages where your target audience are likely to be.
Using big data and a list of search terms that your customers use frequently you can design landing pages that engage them and prompt sales. Targeted landing pages are best used if you keep the content relevant to your audience. You can have multiple pages or split one by making sure you appeal to the needs of each targeted group.
Technology has changed the landscape of our world both socially and economically. People are used to companies and apps customized to their own personal preferences. Therefore targeting specific audiences works better than appealing to a general populous. Honing your marketing skills to the sets of people most likely to buy from you, will further your growth immeasurably.
