As organizations and businesses continue to collect or access more data from online sources, their marketing departments are making good use of this to develop accurate and effective marketing strategies. Data-oriented marketing has even more benefits. Any company that employs it can attest to this.
With this, some data-driven marketing trends that are worth noting have evolved. They will help you to know which direction your business is taking and the benefits it is likely to enjoy. From the list, you can also pick an appropriate trend and exploit its potential. But before then, the business should make use of the right tools and strategies, which are easy to access these days.
Without further discussion, here is the list of the popular data-driven marketing trends that you should know. Read and take notes for your business.
Using Marketing Data for Predictive Analysis
Any business would like to have a peek at what the markets will look like in the future so that they can adapt in advance. Then, they can prepare appropriate marketing strategies and products to suit their customers. Marketing data that is collected on a daily basis helps to make future predictions about the behavior of the existing market segments.
Making predictions has become a trend since it is simple to achieve using past data from internal or external databases. Hence, data collection and analytics tools are focused on understanding buying trends, questions, and requests from customers and other data. The patterns are observed at least for a year with interest in different months and seasons. Additionally, long-term observation might help in understanding the evolution of clients’ needs over time. All this makes future predictions possible and easy.
Using Marketing Data for Personalized Marketing
If you wonder how e-commerce websites are able to recommend products on your account, then you should know that they keep track of your activities when you visit the website. They recommend based on the items you bought or what you view most. Behind the scenes, sophisticated algorithms keep track of all the website users. Although these are automated activities, they rely on appropriate data analytics to create personalized selling and marketing.
And they do not stop here, this trend also provides marketers with data to create personalized emails with suggestions of products individual customers have been viewing more. Furthermore, they can direct appropriate marketing information such as items with promotions, discounts, and offers to the right customers.
According to experts, personalized marketing shows customers that they are important to the business, and this increases the possibilities of making sales and even developing loyal customers.
Using Data for Omnichannel Marketing
Well, we now know that most of the data in a business is related to the market segment and used for marketing purposes. Today, there are many ways a business can market its products and enjoy exceptional outcomes. The data is used to plan the right marketing strategies for each market segment. And you will find that different segments require a different approach.
Omnichannel marketing works perfectly when it is guided by data. For example, data helps marketers to know that products related to youths such as clothes and beauty products are better marketed using social media channels. Baby products can be marketed using family blogs and media streaming channels while auto products do well in movie streaming channels.
A company can use an omnichannel marketing approach such as PPC, digital ads on websites, social media, and media streaming platforms to maximize sales. All this becomes possible when there is access to the right data and when it is analyzed appropriately.
Using Marketing Data to Gain a 360-Degree View of Customers
It is worth noting that data driven marketing solutions are effective when marketers have a complete understanding of their customers. Hence, this trend has become a norm where the sales and marketing team get to gather more data from both potential and loyal customers.
This ranges from bio data to their buying interests. And it is simple to collect this data from sources like POS, surveys, web and social media activities, and so forth. In some cases, marketers also reach out for previous data of repeat customers to learn their buying trends.
The good thing is that sophisticated marketing data management tools can consistently tie one subject to all activities even when data is collected from different sources. Experienced marketers confirm that the more data you have on your customer segment, the more you can understand them. This makes all the other trends very easy to achieve.
Using AI and ML to Analyze Marketing Data
As marketing data increases, large marketing companies around the world cannot handle their data manually or using ordinary software. Hence, the trend of using artificial intelligence (AI) and machine learning (ML) is growing. This advanced technology processes massive amounts of data in real time and even makes decisions without the need for human input.
Professional marketing companies like Google have applied the latest AI technology. Together with Google Analytics, they bring a personalized user experience to users that includes appropriate ads on websites and other web platforms.
Another example is LinkedIn, which uses ML technology, where computers use data to make smart decisions for themselves. This is how users get specific ads depending on their career and shopping trends in popular online shops.
Marketing Data Onboarding Is Becoming a Trend
According to experienced marketing data solutions such as Lotame, data onboarding involves uploading offline data into online clouds and platforms. Marketers are now accessing their data from remote locations as a result of this. It is a trend for retail shops and other businesses to onboard data into online databases so that merchandisers, marketers, and management can access information remotely on their tablets and smartphones.
Additionally, they can execute various commands and make reports whenever they need to know the situation in the market segments they are targeting. Above all, marketing data onboarding provides AI and ML programs with the data they need to run.
Using Marketing Data in Search Engines and Social Media Platforms
A decade ago, marketing on social media became a trend that has been growing until now. Facebook, Instagram, and Twitter have been among the top platforms for ads, product promotions, and even launching new products. But search engines are now becoming more popular platforms for such activities today.
But what is giving search engines so much power? Google and Yahoo among others can collect customer data from different databases and can automatically place ads and PPC campaigns in the right places. For instance, if you visit Google and search for the best laptop to buy in 2020, many of the pages you will open will have ads on the side suggesting the best laptop deals in your local area. How smart and convenient is this?
Although social media platforms have a similar approach, the one for search engines is becoming more powerful since they have detailed information that places ads more accurately. Web users are also likely to be impacted more by ads since they come here to look for information rather than to socialize.
Data-driven marketing trends are changing by the day as forces drive them. They are driven by the results they yield and the activities of potential buyers. Now that you know the common trends, you might want to take advantage of one or a few of them depending on what will work best for you.