If you could choose: decision making based on a hunch or real numbers, return on investment (ROI)—non-measurable or measurable, conversation ratio — poor or high..? The two pathways—traditional and data-driven marketing—clearly differ in their possibilities. We can’t deny that traditional marketing still has its place in the room: there are services and products oriented towards the audience not necessarily using the Internet. However, in general, marketing nowadays is hardly guesswork: hypothesis and experience switched to big data and analytics. Data is the cornerstone of decision making. Marketing professionals mention these main drawbacks of traditional marketing: “expensive,“ “hard to measure ROI,“ “little or no at all interaction with the audience, hard to receive feedback.“ Luckily, we live in times when technologies can help greatly. But what power does data exactly provide?
Data: How knowing it affects the business?
No wonder why marketing nowadays is called “data-driven.“ Having access to and analyzing data leads to quicker but reasoned decision making, including strategic questions. And there are plenty of tangible benefits of employing data for your business.
You get to know your customers.
If you don’t know to whom you sell, how can you succeed? Data can reveal users’ consuming habits, how they liked the products, and help you form a complete picture of your customer. And when you have a clear picture of your buyer’s persona, it gets way easier to present a customer-specific content.
You develop a relationship with your customers.
When you know your customer , you can contact them more easily. The world of digital marketing offers a variety of ways to interact with your customer base: live chat, mobile apps, email, surveys, webinars, and so on. We all know the importance of feedback—and these channels allow us to get it directly. Also, it’s way easier to keep in touch!
You precisely measure and optimize the campaigns.
One of the key advantages of tracking data is objective and precise information about campaign performance. After you see and interpret the metrics, you can optimize the campaign according to your needs.
You understand the reasons of (un)success.
You don’t need guessing anymore to tell what is wrong (or right!) with the marketing campaign. Data can precisely show you the weak points as well as the ones offering the highest ROI.
You can boost ROI.
When you know what works best, you can confidently focus on investing harder there. Having the right data leads not only to more efficient targeting and higher conversion rates—it also leads to smarter cost allocation because you know what’s worth investing and what’s more likely the waste of money.
Eskimi data management solution: Helpful and insightful DMP
Tracking and analyzing data might sound a bit intimidating. You might think, “How to manage all the numbers, how not to get lost in them, how to interpret them properly?”. Luckily, there are data management platforms (DMP) that offer convenient access to different types of data. Eskimi DMP solution employs data just like that!
DMP is a tool that stores and manages customer and campaign data. This is how it works:
1) It collects data from a variety of internal and external sources (the collected data includes content used, socio-economic class, device, data consumption, ISP used, location, travel status, etc.).
2) It integrates, stores , and groups the data into audiences (that’s a preparation for targeting).
3) It analyzes the data and provides insights (yes, it’s smart and helpful).
Eskimi DMP also provides you with features such as data stories, enriched online surveys, grouping intent-based audiences, and unique audiences by industries.
And that’s not all—our product can bring you all the previously mentioned data benefits and even more. Eskimi data management platform is exceptional in several ways—it allows you to:
☆ build industry-specific research dashboards,
☆ create and manage audiences in brand-owned mini-DMP
☆ create custom Audience centers (these let you have a unified view of your customers)
☆ use a data dashboard that visually tracks, analyses, and displays your campaign metrics in real-time.
Today, data is more than an inevitable part of marketing. Data is a king, so choose the best ways to handle it and get the most from it!