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marketing strategy
Data Driven Marketing is HOT!
by mikemonty on January 17, 2013
With the rise in recent years of social media, data driven marketing has exploded on
the business scene. But the truth is, it is not a new concept. Although, the data driven
marketing tools have been available for decades, most brands have not adopted a data
driven mindset yet. Now consumers are in the driver’s seat more than ever before, with
the ability to tweet, Facebook and forum post about a product or service influencing
millions of potential customers in just minutes. What does this mean? It means you
must really know your customer in order to make your message relevant. This starts
with collecting data from your customers.
Data driven marketing is a concept of inbound marketing. The way for marketers to
increase their chance of winning and keeping customers in the digital age through
inbound marketing is with a data driven marketing approach. It allows a business
to reach and attract customers in a relevant way that develops brand loyalty. There
are three aspects of data driven marketing: economics, intensifying competition, and
advancing technology.
The playing field has leveled, as small and midsize companies now have affordable
access to analytical tools through their marketer. As technology continues to become
available to marketers to reach their customers in relevant ways, businesses are
allocating budget as they increasingly understand the need to use data driven marketing
to micro target customers with relevant messaging. In today’s uber competitive
digital world, organizations across all industries that use data driven marketing give
themselves a fighting chance to outrival the competition and shine.