How many times did you engage with a PR or advertising agency, only for your marketing efforts to fall flat? We have all been there, spending hundreds, thousands, and even millions of dollars on campaigns that we hope that would work. Do you remember the ad that features a family that sings a ridiculous jingle? How well do you think they did? Employing a short Social Media Research Coding (a way to gain insights through social media), you’d realize that it bothers people.
For example, if your target audiences are young PMEBS, they can only offer 5 seconds of their precious time for your ad. Can the agencies promise you that within 5 seconds, your targets will be able to understand your product and pick up on your call to action?
…young PMEBS, they can only offer 5 seconds of their precious time for your ad…
Sure, hunches from advertising veterans may hit their mark every once in a while, but how often? The forecasts can give you the rough figure, but how often do you get the numbers you were promised?
Data-driven targeted marketing promises you the forecasted sales because the numbers are now backed by actual, tangible data, which lets you understand your prospective reach which will, translate into leads, and become your sales number.
Data in marketing create personalization, and it leads to an astounding increase in conversion rate by 78%! Through market research conducted in 2018-2019, 79% of customers will not consider engaging in a service or buying a product unless it feels that the offer is personalized for them. The competitive advantage of using data to personalize your marketing strategies and tactics are better client retention rate, easier to venture into new markets, and customer service guarantee.
Using data in our efforts, we marketers are able to gain insights such as their habits, their usual hang-outs, and deliver what they want to buy.
…gain insights such as their habits, their usual hang-outs…
For example, a company that offers Business-to-Business (B2B) products or services will choose not to blast their message via SMS or MMS, but rather, they would rather opt for using electronic distributed mail (EDM).
Keeping to that example, let us understand the rationale.
As a stakeholder/business owner, SMS and MMS are more personal compared to an email sent to their corporate email account, and unless the sender, in this case, you, a marketer, has a more important message that requires personal attention, would be ignored. Therefore, an EDM would be better now, taking a step further.
You can even consider sending them a marketing mail through a pool of mailing lists that you have accumulated over the years?
Understanding that your target audience, through data research, are small-medium enterprise (SME) owners and they are generally very busy and they do not have time to read a lengthy newsletter. Instead, try writing your EDM in what the PR people call, the inverted pyramid structure.
Through understanding how to create personalized marketing strategies using data, marketers like you and I will be able to generate leads way better, our account servicing in-arms will retain the existing clients better and our business development/sales counterparts will definitely drive sales off the roof.
It is safe to say that in today’s data-driven market, as marketers, we should get on with time. A quote from Sean Rad, the founder, and ex-chairman of Tinder, “Data Beats Emotions,” perfectly sums up the entirety of why well-employed data trumps over a marketer’s instinct and hunch.
In the next post, we will explore and discuss some insights on personas, its creation, and how to employ it.
Please leave a comment and we will get a discussion going! Till next time!