- Construction & Engineering
What should we expect in construction in 2023?
Data driven marketing is a strategy of using customer information for optimal and targeted media and creative messaging. It is one of the most transformational changes that has ever occurred in digital advertising world. The rising quality and quantity of marketing data have been followed by explosive growth in the technologies for creative production. These expanding marketing tech and ad tech sectors now enable personalisation of every aspect of the marketing experience.
Data driven marketing is taking the forefront at answering questions like “who, when, where and what” and making those answers actionable for business to best target the masses. Using data in automated or semi-automated instances allows for a significantly more optimised media and creative strategy for marketeers. This people first marketing strategy is more personalised and has also been responsible for driving considerable profits in multiple industries that deploy this strategy of big data marketing.
Enhanced customer service experience
The benefits of data driven marketing especially data driven advertising is highly significant. Data driven marketing is probably the most advanced and pragmatic marketing sector. By leveraging algorithms and machine learning, agencies and marketers are removing a lot of guesswork from media planning and buying. This in turn enhances customer service experience and brings advanced marketing capabilities to sellers and improves their business.
Targeting the right customers
Ad spends and marketing messages are optimised to be shown only to the appropriate targets for the marketing campaign. Here the customers search history is tracked and they are targeted with only the relevant ads that help them to find exactly what they are looking for and improves customer experience.
Messaging audience with relevant messages
The age of generic one size fits all marketing messages are over. There is still room for these big ideas for some brands but for most companies marketing messages must get more granular in order to be relevant enough to resonate with customers. To put it down in simple terms all customers are not convinced with the same message. Marketing teams should understand that what exactly a customer is looking for and target them with only relevant information.
Data driven marketing has led us to the introduction of many ideas of marketing and reaching out to the customer in the best possible way. It also led to the introduction of many software’s. CRM or customer relation management allows direct mailing and therefore direct marketing campaigns. Batches of customers may receive different types of messages based on whether the marketer thought the segment was a good fit and what the customer cares about. CRM gained new prominence in digital marketing with Salesforce innovation bringing it to the cloud.
As marketers began segmenting their customers using marketing data, they run into a new problem around the amount of data being accumulated. Customers were now being tracked not only through their own media on marketing websites and emails but also increasingly in paid media running what’s now known as pragmatic advertising. Solutions arose to help marketers aggregate the data in more manageable manner and produce new insights for new targeting and creative plans thus began the age of data management platforms.
Today market is spending over $6bn annually on data driven targeting solutions like data management platforms and demand side platforms. However, the majority of marketing teams are not yet fully activating their data leaving a bounty of untouched potential locked up in their CRM platforms.