What is Data driven marketing?
Data driven marketing is a process by which marketers gain insights and trends based on in-depth analysis informed by numbers. It helps you to identify specific content that is leading prospects through your sales funnel. This helps you determine exactly where your time and budget should be spent.
Types of data driven marketing.
The universe of data-driven marketing is vast, but there are essentially two types of data used in marketing: contact information and performance metrics. Capturing contact information allows marketers to track potential customers and target them through emails, paid social, other digital tactics, and even potentially phone calls or direct mail, such as catalogs. Tracking performance metrics allows marketers to improve and refine marketing activities to more effectively reach high-value prospects.
Why Is Data-Driven Marketing Important?
Data-driven marketing provides concrete insight into how well or not your marketing activities are working. Marketers today need data for everything from client presentations to reports for company leadership.
Here are a few reasons why data-driven marketing is important:
Data-Driven Marketing Tells You Where Your Customers Are.
Data-Driven Marketing Helps You Reach the Right People.
Data-Driven Marketing is the Future of Marketing.
Data-Driven Marketing Helps You See What Works and What Doesn’t.
Data Analytics techniques for marketing can include:
• Web analytics: Measurement of page views, traffic by device and other activity.
• Metrics for “lead magnets” or content offers: Simple measurements such as call-to-action (CTA) click-through rates and more complex data such as the ratio of generated leads to marketing-qualified leads (MQL).
• Email marketing metrics: Including open rate and unsubscribe rate.
• Content and social media metrics: Engagement rate, follows, shares and other measurements.
• E-commerce metrics: Shopping cart abandonment rate and other activity.