Data analytics reign high in the marketing kingdom, and everyone is talking about how important it is to adopt a data-driven marketing strategy. In fact, 64 percent of marketing executives “strongly agree” that data-driven marketing is critical to success in a hyper-competitive global economy.
This begs the question “why?” Why does data-driven marketing play such an important role in guiding your business decisions?
First of all, data analytics give you insights into who your customers are. Data tell you about customer preferences, what makes customers happy and unhappy as well as what your customers want and do not want from your brand. When you have this information, it’s easier to personally connect with your subscribers. Using data to personalize experiences is essential for success, especially considering consumers are asking for more personalization, and are willing to yield valuable data in exchange for relevant customer experiences.
Not only does data-driven marketing help you with personalization, but it also gives you insights into what your customers are doing and when. By collecting behavioral data, you can answer consumer requests in real-time. This helps you better market to customers while they are thinking of you.
For example, you can use behavioral data to market to customers when they are in the process of making a purchase. Say a customer abandons their online shopping cart. You can use data, set triggers, and then automatically email the customer a reminder to follow through with a purchase. This practice is especially valuable considering 65 percent of abandoned carts can be recaptured within 24 hours.
It’s not a surprise that data can play a vital role in your marketing strategy. However, even though data can make a huge difference in the success of your marketing campaigns, the majority of marketers find it difficult to implement a data-driven strategy.
This infographic explores the eye-opening truth about data objectives, top challenges in data-driven marketing and how many marketers find implementation difficult. As you explore this information, know that if you experience challenges, you’re not alone. Furthermore, when you understand those challenges, you can also find ways to overcome obstacles in order to adopt a solid data-driven approach to your marketing campaigns.
Faye Napigkit is a Digital Marketing Specialist at Campaign Monitor