Who knew that a word as mere ‘Data’ could become the lifeblood of marketing? Marketing without data is like driving closed eye. Well, today data has become the vehicle that allows a company to embark on a journey that will drive their sales, allocate their resources efficiently, and make intelligent decisions for your company. Data is a pool of information that can be as good as the marketers make it to be.
With a large set of data comes a big opportunity for analytics, and we can’t help but agree with Geoffrey Moore who said that without Big Data analytics, companies are blind and deaf, wandering out on the web like deer on a freeway.
Having said that we now know, that data is important but how is it important? Which aspects of your marketing strategies can benefit from data-driven decisions? Let’s have a quick look at it!
A company must know its position in terms of how much revenue its product and services are generating at a constituent level. With such information, we can build our marketing strategies and decide which product or service needs a boost and which ones are our cash cows.
Social media platforms have enabled the entrepreneur to dwell deep into social media analytics which is a completely data-driven sector to impact their potential clientele. This means that all the technologies-each click, each tweet shared, or items looked up for shopping builds the backbone and a strong system for Facebook, Instagram, and other social media platforms that eventually targets these individuals in the form of advertising.
More often than not marketers hesitate to communicate with their customers and lose out on building a personal connection because they don’t know which medium is most used by them. They fear that the investment they put out would go in spam folders or as unread messages. A data-driven marketer, on the other hand, would not shy away from this, he knows where his customers are and would have probably built that connection with them to drive the sales of the company.
Even after knowing the above advantages of inculcating data into marketing. Still, some traditionalists would not adopt any form of data analytics into their business, they would rely on their gut and try to decipher the intangible emotions of the market. Why is that so? Because they are reluctant to learn a new skill-Big Data Analytics. Such marketers need to know that the business world is dynamic and cocooning out from the comfort zone is necessary to stay relevant in the game. The benefits of data far outweigh the limitations that you might have learning to decipher it.
We hope that we were able to put away some of your inhibitions about being a data-driven marketer because truly marketing without data is like driving closed eye.
To make you and your company at ease with data-driven marketing we at Pixellion are here tohelp you with all things digital. Head over to our website for more information. Till then success!