Data+marketing is a term used to describe the process of marketing with information that includes social media and traditional offline advertising. It differs from other forms of marketing by adding the aspect of gathering information, and then using the information to create an effective marketing campaign. The two elements that make up this definition include a “data” component and a “marketing” component. The data component is simply the collection of information about your customers that you can use to better understand them, while the marketing component is a plan of action for how you can use that information to create better relationships with those customers.
Can be describe as an umbrella term that combines big data, big data marketing, and digital marketing. This term was coined in 2011 by Thomas H. Davenport and his team at Babson College. Big data is the collection, management, and analysis of large data sets that is used to solve big business challenges, while big data marketing is the use of data analytics to market to consumers. Digital marketing includes all forms of advertising, including paid search engine optimization (SEO), social media marketing, content marketing, email marketing, and digital advertising.
In fact, there are 3 main areas in which data+marketing can be used – marketing, product management and engineering. It is now an integral part of many large companies, including Google and Facebook.
Top 6 skills that a digital marketer needs to have
Digital marketing is the fastest growing field in the world today. It is a combination of several different skills and disciplines. In this blog, we highlight some of the top 6 skills that a digital marketer needs to have.
Understanding social media
The first and the most important skill is having a good understanding of social media platforms like Facebook, Twitter, LinkedIn, YouTube, Instagram, Google+, etc. It is very easy for us to get on the internet and start posting our content on different social media platforms. But, do we know how to drive traffic to these platforms? No. And if we don’t have a clear idea about driving traffic, then it will be difficult for us to succeed in this business.
Be a good marketer
Marketers need to understand how people think. In order to do this, they need to be good at communicating with their audience. This involves being sensitive to the problems people have and understanding how to solve them.
You should also know the different types of customers. For example, you should know that some customers prefer an emotional response whereas others are more analytical. To understand the emotional side of things, you need to consider their wants, needs and desires. Then you can decide on the best way of satisfying these.
You should use words to communicate clearly, use language that is clear, simple and relevant to the audience. You should also be able to write copy that is easy to read and understand. Write copy that gives information rather than selling. It should include a strong call to action.
Be a good analyst
Analyzing market data will help you to understand the market and what is working and not working. You should study all aspects of your market, including competitors, customer requirements, competitors, marketing activities and products. You can also look at the media coverage of your market.
Ask yourself what the competition is doing. What does their activity mean for you? Is it similar to yours? Does it have any differences? Why do people buy what you sell? What does the public say about you? How do people react to your brand? What are people saying about you on social media?
Read newspapers, magazines, blogs and websites. Do you like what you read? Are there particular topics that interest you? What do you think about the articles?
Analyse your market
Do you know why people buy the things you sell? Is the offer clear and easy to understand? Do you know the value people place on your product and service? Does the marketing you do reflect this?
Analyse the media coverage of your market.
Are you getting the publicity you want? What do you think of the stories? Are there any areas you would like to change?
Be a good strategist.
You should be aware of what your competitors are doing and what they are planning to do. You should also know what the media is writing about your market. You should use your market knowledge to determine how to make changes.
Use the information you have gathered to find out what your competitors are doing. Which approach works best for you? What are the best ways of responding to these approaches?
Consider your options carefully. Which of your ideas would be best? Which will be most effective?
Do some research on how to achieve these objectives. Do you think there is a business trend which is emerging?
Digital Data in Marketing
To succeed in today’s world of digital marketing, you need to know how to analyze digital data. Here are three ways to gain the most benefit from the data you collect:
1) Understand consumer preferences
2) Create customer insights
3) Use analytics to make decisions
In our digital world, consumers can shop online, receive information through social media, and use mobile apps. All this activity leaves data. That data tells marketers where customers live, what they read, what they watch, what they listen to, where they travel, what they search for, what they purchase, and what they share.
Analyzing this data using a tool such as Delphix is essential to understand consumer preferences. For example, understanding what consumers look for in a car, what they want in a movie, or what they like to buy at the store.
Once you have established your preferences, you can create customer insights. This helps you make products and services that meet consumer needs. For example, you could target a specific group, such as millennials, or offer a discount to students.
If you want to find the best ways to market, you need to know what consumers are looking for. Analyzing data enables you to pinpoint trends, which in turn allows you to identify problems and opportunities. Once you understand the issues, you can address them. In addition to helping you understand your consumer, analyzing data can help you gain greater insight into your customers. You may uncover things such as:
- How well a product sells in a particular area
- Why a consumer doesn’t buy a product
- How a consumer would respond to a new promotion
Analytics are powerful tools, which help marketers develop a clear strategy and then implement the strategies across their business. You can use them to:
- Track the effectiveness of campaigns
- Identify opportunities for growth
- Improve efficiency
The key to success in the digital world is to gain a clear picture of what consumers are looking for. In order to understand what they want, you must analyze data.
Data Science can help companies to understand Data+Marketing
Businesses are trying to use data + marketing to improve sales, increase customer retention and attract new customers. It is part of an overall strategy of using analytics to manage the customer journey.
Marketing in today’s world is different than it was in the past. The data that can be obtained is becoming exponentially larger, and as a result, businesses are developing strategies to use this data and marketing to reach their goals.
The key question in this scenario is, how do you gain insights from this data? This is where the use of data science comes in.
Data Science helps companies use the data they obtain to understand their customer’s needs. Data science gives us a better understanding of our customers and helps us develop a deeper level of understanding about what motivates them. This allows us to provide a better service and experience.
It is said that 80% of data generated today is wasted, so how do you make sure that this data is not wasted? Data Science can help you achieve this.
What does the future of data look like?
Data + Marketing is only one of the emerging trends in the industry. With big data in general becoming easier to gather, it is likely to become more and more common place.
In the future, we can expect to see even more advanced techniques and methods used in marketing. We can expect to see even more personalization in marketing campaigns and a shift away from traditional media to online and mobile sources.
As technology advances, it is likely that the data we collect will also grow exponentially and this will require a shift in the way we approach marketing. We will need to focus less on the type of data that we are collecting, and more on the insights that we can glean from it.
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Source: Market Business News