With the growth of big data, will data marketing be even more popular in 2019? What are the reasons why you should incorporate data marketing into your overall marketing strategies?
To know more about the advantages of data marketing and how it can help your business grow, here are the top reasons why data marketing is “king” in 2019.
Introduction of Marketing Automation
Marketing automation is one of the game-changers for digital marketing today. With the use of big data, businesses will be able to introduce and incorporate marketing automation in their overall business strategies. In fact, a lot of big companies utilize various marketing automation platforms such as Hootsuite, Net Results and Hatchbuck.
According to Susan Tormellen, Vice President of Marketing at Balihoo, a popular advertising software company, marketing automation has immense benefits. She said, “By using marketing automation, you are able to better understand your customer’s preferences and desires. This translates into both a stronger relationship with the contact when they are in the early prospect stage of the relationship, all the way through to when they become a customer.”
Significantly, marketing automation uses software in automating these basic marketing processes:
- Customer Segmentation – By using marketing automation, it will be easier for businesses to access CRM (customer relationship management) data and keep track of their target customers. Also, companies can target potential customers based on what they look at on the company website, what they actually buy and how much they spend on it.
- Customer Data Integration – Marketing automation tools help bring customer data together anywhere. It fast tracks not only the development of customer data integration but also its deployment and adaptation. By tracking prospects and customer activity, business owners will find it much easier to grow their companies.
- Campaign Management – Marketing automation makes planning, implementing, tracking and analyzing direct campaigns easier and faster. One of the most common tools that businesses use to improve their campaign management is email automation. Here, businesses can customize their email marketing campaigns and reach a lot of customers at a time, making email processes quicker and more effective.
Drew McLellan of The McLellan also swears by the effectiveness and efficiency of marketing automation. He said in his blog, “Automation allows you to create a user experience that puts the user in the driver’s seat. They can access the exact information they want, how and when they want it. But every potential customer isn’t necessarily going to want exactly the same information. With automation, you can also create multiple paths, so each person can have a different experience, based on their own needs and interests.”
Greater Customer Engagement and Customer Loyalty
According to a recent Spencer Stuart survey, a lot of marketers have completely embraced data marketing and are confident in the use of big data and analytics tools. 58% of chief marketing officers said that big data had the most impact on mobile and email marketing as well as search engine optimization, making them believe that data marketing is an essential part of their long-term marketing strategy.
In another survey conducted by Forbes Insides, they found out that market leaders in ten industries are increasing customer engagement and customer loyalty with the help of Big data and data analytics. According to these market leaders, data-driven marketing is sufficient to accomplish positive customer relationships.
But how exactly does data marketing help businesses drive and engage customers? Basically, data marketing tools and approaches help marketers create and deliver timely and personalized messages to their customers and prospects. Because marketing automation tools provide businesses with the data they need to analyse the needs, activities and buying behaviors of their customers, they are able to create strategies to engage them and gain their loyalty.
Also, with enhanced data analytics, businesses can develop buyer personas and deliver specific messages they want to hear. One-to-one conversations and other personalized marketing tools can help companies build loyal customers without the use of hard selling or other traditional, annoying marketing strategies.
Greater Insights on the Key Drivers of the Business
Apart from customer engagement and customer loyalty, data marketing also allows business to gain greater insights on what drives their business to growth and success. Apparently, a business gains more value when run using advanced data analytics and data marketing. Today, there are three core areas where data marketing is delivering great value to businesses.
- Reducing Costs – Data can tell a lot about a company’s marketing campaign. This is why analysing data and metrics regularly is very important for every company. Data can help reveal trends on customers and prospects such as their demands and spending capabilities. Because data marketing makes usual business processes quicker, it can help companies reduce unnecessary costs.
- Reducing Working Capital – Because marketing automation tools provide fast, efficient and reliable data, businesses can easily analyse this data and improve their business strategies. If a business uses data marketing and automated tools such as email marketing automation, they no longer need to hire more workers because a task which used to be complicated can now be done by a single person, helping the business reduce working capital.
- Generating Revenue – When certain business costs are reduced, businesses can gain more revenue. Also, data marketing is proven to be an effective marketing strategy which can help business drive more customers and generate more revenues.
Delivers Quick Results
Another thing that makes data marketing a king in 2019 is its ability to produce quick results. Instead of waiting for a few months, businesses can now see results in just a matter of weeks. This is because data enables marketers to boost their marketing campaigns much faster. According to CMO, 67% of business owners and marketers believe that speed is one of the main advantages of data marketing. The use of Big Data and data analytics tools helps businesses gain expedited results that they cannot achieve from utilizing common traditional marketing strategies.
If you haven’t tried utilizing marketing data for your business, it’s probably time to think about it and become one of the leading marketers in your industry.