Data has launched a new era in marketing, helping companies to take full advantage of modern technology to deliver a more personal experience to customers. Big data has long been considered too complex for many businesses, particularly small and medium-sized enterprises (SMEs). However, with the help of UK list brokers and consumer data providers, more and more companies are beginning to adopt data analytics as a key part of their marketing strategy.
To demonstrate just how important this data can be for modern businesses, we’ve put together a list of five simple ways you can use data to transform your marketing.
1. Reduce Spend
One of the most significant ways the use of data can transform your marketing is by reducing your costs. With the help of a top data provider like Seawave Media, you can use insights to enhance the direction of your marketing strategies, and begin targeting your audience more precisely. Any reduction in marketing spend can then either be reinvested elsewhere in the company or used to provide you with the budget you need to push your marketing campaign even further.
2. Increase Global Reach
One of the largest problems facing modern companies is the pressure to expand abroad, which can cause many businesses to experience losses if they fail to properly research their new target market. Fully compliant lists of data are fast becoming the go-to tool for expansion, helping businesses to overcome some of the challenges faced during the planning and implementation of an international marketing strategy. Even before the details of a marketing campaign are in place, data on trends and preferences can inform on the relevance of a product or service in other countries, shaping the direction of a firm’s future growth and of course, providing an ‘in’ to start connecting with these new markets.
3. Define Your Ideal Customer
Thanks to live web leads and opt in data, companies of any size can learn more about a target audience than ever before. Rather than estimating the age, demographics and career trajectory of potential customers, you can now make use of data to define intricate details of your Ideal Customer Profile (ICP) and begin promoting your product or service on an individual basis. Data can provide access to almost every aspect of your customers’ lives, from which websites they visit to their film or music preference.
4. Identify Social Media Success
Social media has recently begun to dictate the success or failure of many digital marketing campaigns, but it’s not always easy to identify the reach of your marketing content until after you’ve made a significant investment. With the help of data, you can now discover how effective each aspect of your marketing campaign really is, allowing marketers to refine strategies based on what is most appealing to customers.
5. Increase Customer Loyalty
Data isn’t just about targeting your marketing at the right audience; it’s also about creating a personalised brand experience for your existing customers. Many customers assume a reduction in high street shopping means a drop in customer service, but big data can bridge the gap between digitalisation and personalisation.
With data and analysis marketers can move beyond strategy, focusing on improving individual customer relationships with the ultimate goal of creating greater loyalty.