{"id":3834,"date":"2021-03-10T15:20:11","date_gmt":"2021-03-10T15:20:11","guid":{"rendered":"https:\/\/www.lakeb2b.com\/blog\/?p=3834"},"modified":"2021-03-10T15:20:11","modified_gmt":"2021-03-10T15:20:11","slug":"data-driven-marketing","status":"publish","type":"post","link":"https:\/\/www.lakeb2b.com\/blog\/data-driven-marketing\/","title":{"rendered":"Reaching the Right People at the Right Time on the Right Platforms? Data-Driven Marketing Can Make It Happen!"},"content":{"rendered":"

When neatly illustrated using charts and graphs, customer data can communicate valuable information in a clear, concise, and quantifiable manner. You can analyze the data to extract actionable insights and make well-informed business decisions.\u00a0<\/span><\/p>\n

But what if you could do the same at the individual level? That’s precisely how data-driven marketing works today. And, in turn, can increase your customer retention and ROIs.\u00a0<\/span><\/p>\n

Personalized, one-on-one customer approach is the primary philosophy behind the various data-driven tactics we know of and use today! It is far from traditional\u00a0<\/span>spray-and-pray\u00a0<\/span><\/i>marketing, which fashioned Ad campaigns towards a much larger audience to attract interested buyers.\u00a0<\/span><\/p>\n

How Data-Driven Marketing Works<\/h2>\n

Take the example of\u00a0<\/span>Spotify,\u00a0<\/span><\/i>the Swedish audio streaming and media services provider. The streaming platform simply uses recommendation engines to analyze past customer preferences and recommends new music, playlists, artists, podcasts, etc., accordingly. This way,\u00a0<\/span>Spotify\u00a0<\/span><\/i>keeps the retention rates high and stays ahead of the competitors.\u00a0<\/span><\/p>\n

\"How<\/p>\n

In a nutshell, if you can understand your prospective customers’ know-how, including the who, what, why, when, and where \u2013 you can drive better marketing performance by modifying tactics to meet the audience demand every step of the way.\u00a0<\/span><\/p>\n

This practice may include matching your ad’s timing to when the prospect uses a specific channel or creating a particular type of content your target audience is currently looking for.\u00a0<\/span><\/p>\n

As such, every data-driven marketing tactic is carefully choreographed to attract and retain new prospects and customers alike.\u00a0<\/span><\/p>\n

Data-Driven Marketing Can Help You Reach\u2026<\/h2>\n

\"Data-Driven<\/p>\n

A marketing approach driven by data offers a snapshot of your customer’s buying behaviors, allowing you to have a 360-degree view of how and where you should spend your time and money. How does data-driven marketing<\/a> make it happen? Let’s find out.\u00a0\u00a0<\/span><\/p>\n

\u2026 the Right people<\/h2>\n

Know thy customer! It’s the #1 thumb rule every successful marketing rests on.\u00a0<\/span><\/p>\n

A deep understanding of your “ideal” audience can help you create more effective buyer personas and help you identify prospects who will likely make your brand purchase.\u00a0<\/span><\/p>\n

Customer data allows you to define your Ideal Customer Profile<\/a> (ICP) based on criteria like age, interests, industry, company size, etc. Moreover, intelligent audience segmentation across specific data points allows a higher degree of demographic and behavioral targeting and narrows down your marketing approach for successful sales cycles.\u00a0\u00a0<\/span><\/p>\n

Anyone who interacts with your brand, including website visits or the number of social media likes, comprises vital user data you can collect and analyze to extract valuable insights on how to cater to your ICP.\u00a0 Every online interaction can be tracked to understand what your customers genuinely want.\u00a0<\/span><\/p>\n

And based on business necessity, you can collect data like:<\/span><\/p>\n