With digital, campaign tracking changed forever. Every step, tweak can now be measured in terms of campaign metrics and the evasive, aim in the dark approach of marketing was completely replaced by data driven marketing. Where every dollar is measured, every viewer action is categorised for future targeting, and every response is weighed against the business value it creates.
Knowledge is always power. Before digital, customer knowledge was through non exact samples. It never accurately pictured the buyer. WIth data driven marketing every purchase, every abandoned curt is open to analysis, supported by data. So, obstacles are quickly removed, customer pain points are easily identified and sorted out. Businesses are now more accurate, more productive.
Data pictures the customer in completeness. So, a business has the birthdays, the anniversaries data of customers. It is easier to engage and offer customised promotional offers. And then monitor the customer’s behaviour against the promotion and tweak the future promotions based on this behaviour.
The main area where data analytics work wonders is in framing the psychometric buyer persona. The mind of a buyer. The people who are most likely to buy, how they make their buying decision, why they abandon a purchase, all these come in analytics, supported by solid volume of customer data. And quality analytics can make a sea difference between two competitors.
Data and analytics change marketing approaches. Customer insight, campaign insight, customer interaction all get optimised over the time. Implementing positive marketing efforts based on available data, boost ROI. When more-likely buyers are targeted with responsive campaigns, budget is optimally used, delivery is more specific, targeted ROI is bound to skyrocket. And it does.
Data accuracy is not practical. Every month customer data expires and after a certain time 25% to 35% customer data becomes outdated. Inaccurate data results high bounce rate. Whatever incentive marketers use to gain it is important to refresh data at scheduled intervals to make it accurate, valid. Customers are vital, their data leads the business to them.