Using Data Science to Guide Marketing Decisions
In a world of increasingly fragmented consumer attention and competing communication channels, marketing can seem disappointingly hit or miss for businesses. Without sufficient data about prospective customers, it can be hard to figure where to aim marketing efforts.
Lack of Information
Business News Daily reports that marketers at mid-size and large businesses often lack enough information to properly target customers:
Most marketers simply don’t have enough information to send the kind of personalized, targeted campaigns that would keep customers returning to those brands. The key to earning market share… is building customer relationships. The best way to do that is to harness “relationship-oriented data,” such as information on social media use and online behavior. Less than half of the survey respondents base their marketing campaigns on these types of data, which provide far better targeting than basic transactional data or demographic information like gender and age.
The question becomes twofold — how to gather the necessary data, and how to properly analyze it. In addition, there are the everyday data management tasks from capturing it to prepping, cleaning, and verifying before it can be used.
Data can be gathered by analyzing social media interactions and compiling behavioral and psychographic profiles. There are also more mundane means of collecting useful information, from surveys to loyalty programs.
Putting Data to Work
How can businesses collect the right data for personalized marketing? Even more importantly, how can they put the data to work?
At LMS, our experts help businesses collect, manage, and integrate high-quality data for marketing. We can work with your company, providing the infrastructure to gather necessary data and then creating personalized marketing campaigns from the bottom-up. Tailored to your product or service, we will build micro-targeted marketing tools to get the right message out in front of the right customers. Reach out to us today at [email protected]