Data-driven marketing may be the solution for all the times your business lost money on mass marketing. Mass marketing does not factor in the constant changes that happen within the marketing space, it does not factor in that there are varying target markets and quite frankly, it is also quite expensive. “Data-driven marketing, on the other hand, is measurable” says Kenneth Sun, Co-founder at Flint Studio, and it’s true.
Data-driven marketing is normally confused with real-time marketing. Also known as on-the-fly marketing, this type of marketing requires a stroke of masterful quick-thinking. A brand takes advantage of a trending or major topic and then creates an ad aligned with their brand story or message in reaction to it. This exploits customer interaction and therefore increases the reach.
The reason data-driven marketing and real-time marketing are confused is that they are somehow interlinked. Brands who adapt data-driven marketing normally know their target audience and are (or should) be constantly collecting data to add to what they already know, therefore already have a strategy built. Real-time marketing then reacts based on the data derived.
We are going to be looking at how Data-driven marketing can be implemented into your existing marketing strategy and how Flint Studio helps businesses charm the right audience. In order to do this, we need to look at why you should consider it for your business.
What Does Data-driven Marketing Change?
Data-driven marketing forces you to put the target market first by giving you a clear idea of who your customer is and what appeals to them; which ultimately makes planning and execution easier, your marketing directives can be optimised so that they resonate with the relevant target market. With data-driven marketing, you can effectively build brand awareness, increase conversions and improve engagement. Below we have created a list of data-driven marketing tactics and tools that can help your strategy.
Data-Driven Marketing Tactics and Tools
There are plenty of tools that can be used to get the most out of data. Google has plenty of data-driven marketing tools like Google Analytics, Search Console, Google Optimize and more. These tools perform certain varying functions that contribute to the bigger picture.
A/B Testing and Conversion Rate Optimisation
A/B Testing removes doubt from marketing decisions for it provides feedback on what works and what doesn’t, based on what appeals to your audience. There are various ways A/B Testing is carried out depending on the kind of results you are looking for:
- Split Testing – two versions of a page are tested and once a there is a difference in interaction, a version with the desired results is then picked
- Multivariate Testing – This is when you want to test more than one element of a page like a header, design, banner as well as copy, for an example
- Bandit Testing – This type of testing automatically takes the audience to the winning variation
- Multi-page Testing – Also known as A/B/C/D/E testing, this is when you want to test more multiple versions of a page
Tool options: Unbounce, Google Optimize, Optimizely
Retargeting Audiences, Programmatic and Personalised Advertising
Technology allows us, as marketers to be data-driven in our targeting but when you’re dealing with a lot of information, how do you then use it to best potential. Here are some of the ways we use data to target the right audience.
Retargeting Audiences: This is when a potential customer visits your page but then leaves without taking any action or completes a specific action. The next time they surf the net, your ad then appears, inviting the potential customer back to the website which can potentially turn into a conversion.
Programmatic advertising is a when you target the type of audience you want, combining this with data, machine learning, and automation. Your audience can be targeted based on social standing, gender, age, area and more. With the right data, you can show the most relevant ads to the right audience at the most suitable time and place.
Personalised advertising is when you target your ads to a specific customer based on data created from their interaction with your page or their behaviour or interest data. Personalised ads can be created with the use of customer search, profile, and personal data.
Platforms: Google AdWords and Doubleclick, Facebook, LinkedIn and other Native Advertising Platforms
Email Marketing & Behavioural Email Triggers
With the permission of the customer by various means, email marketing can work wonders. It is a great tactic for sustaining or educating potential customers about your products or services. One example of achieving this is a drip series of emails. Here is a list of some Behavioural Email Triggers,
- When customers add items to their shopping cart but do not complete the purchase, an email can be sent to remind them to complete their purchase
- When customers sign up or register, a welcome email may be sent to help them complete the process
- When a customer provides their details to receive something in return like an ebook, link to a course, song or image
Platforms: Everlytic, MailChimp
Heat Maps, Scroll Maps and User Experience
Heat maps use colour to represent what data on the page works. It will indicate what parts of the page the visitors interacted with by tracking clicks. Scroll maps, on the other hand, help with identifying the best page length based on which point the visitor leaves the page. Heat maps and scroll maps help us improve the user experience by allowing us to see how users interact with a page and how we can adjust to what works for, well, the user.
Platforms: HotJar, CrazyEgg, Clicktale, Ptengine
Using data-driven marketing can be powerful but can also be overwhelming at the same time. There are so many tactics out there which can lead to a spaghetti approach; throw a bowl of spaghetti against the wall and see what sticks! One critical challenge with this approach is, if you do not set up your tracking properly, you cannot find out what actually worked.
Effective planning is pivotal in effectively executing any strategy and tactics and understanding the outcomes can help you leverage off of the insights gathered.