"This year will be entirely devoted to artificial intelligence." "And do not forget podcasts!" "And the blockchain, the live video and the social commerce. is part of this meeting of the BINGO Round Table. Everyone around the table suggests investing in an arena different from the most popular technology on the market. You just have to buy all these advanced technologies, give them all your "big data" and you will immediately put your mark in order to capture this nice increase when the revenues will increase. Easy.
In fact, you leave the meeting with more ideas than executable options, a list of technologies to invest in (which might not fit your marketing budget), and a very concrete case of "What happened like madness". you, you are not alone.
At his session at MarTech West in San Jose, Jason Mestrits, senior director of science and data analysis at Nordstrom, highlighted the challenges that the marketers are facing. seeking to follow a data-driven strategy. Although tactics such as nano-influencers and social commerce seem to be well suited to stakeholders (who like buzzwords), it is important to remember that these tactics are just fluffing without diagnose data and create a methodical strategy based on the data to save them.
Mestrits described some key steps that marketers can use to ensure the implementation of an efficient data-driven operation.
Defining a Use Case Data Strategy and Scalable Technology
Marketers Use a Case-Based Strategy That Takes Data, Analyzes , knowledge, integrations and places above corporate policies. This means that marketing must ensure that the platforms / partners in which they invest are ready to evolve. It is tempting to choose the least expensive platform or only support the current need, but given the resources needed to implement a platform, it is often more cost effective to choose a cross-team solution long-term.
Select the Right Data Resource Platforms
Mestrits recommends the use of a Client Data Platform (CDP) on a Data Management Platform (DMP). While a DMP collects, categorizes, and segments data for marketers to target their customers, CDPs go one step further by gathering data from different sources to help them create personalized content.
Segment and Target Audiences
Third Third-party data is generally the easiest to obtain because marketers can simply buy it. Meanwhile, the top-level data is the most useful because it comes directly from the customers themselves. Marketers must layer the two sets, starting with the internal behavioral data, to develop the most effective strategies.
Maintaining High Quality Data
Data-driven marketing is as effective as the quality of data used, emphasizing the importance of good data hygiene. Quality control measures, such as alerts for obsolete lists and ongoing controls of duplicate customers, are simple and proactive steps to ensure good data practices. It is also important to avoid silos and set up centralized data hygiene within marketing teams to avoid any archive conflicts.
Control Appropriate Metrics
To ensure the effectiveness of a data-driven marketing strategy, measure it at multiple levels not only to the channel or product. It is at this level that an inter-team solution can prove itself and show that it can meet the specific needs and objectives of multiple services. Start by deciding which results to measure and how to conduct the measurement conversation across the organization. Marketers sometimes feel they need to track each metric, but it's best to do it selectively. Focus on key performance indicators that incentivize target behaviors, commitment, conversion, loyalty or another goal as effectiveness.
In summary, the buzzwords will not go away anytime soon. Marketers who advocate a methodical, data-driven marketing strategy nurture your own conversations and limit the game to bingo with buzzwords during their marketing planning sessions.
Other information from the MarTech conference
The opinions expressed in this article are those of the invited author and not necessarily those of Marketing Land. Associated authors are listed here .
About the Author
Kyle Henderick is Senior Customer Service Manager at Yes Marketing, a unique solutions provider that provides communications relevant for all channels, medium and large enterprises. companies. Kyle is responsible for helping major clients implement new data-driven programs, processes and strategies to create campaigns that actually generate revenue. Passionate about technology implementation and with experience in database marketing, email, web and social media, Kyle turns his real-world experience into executable tactics to help customers see their numbers. Business, increase the engagement of their subscribers and their loyalty. Lover of everything that happens in Chicago, when Kyle does not learn about the latest marketing practices or improve customer programs, he can be found tasting the city's great restaurants or wearing his heart throat while encouraging all Chicago-based sports teams. Curious, eager to taste all the dishes without raw onions, he is always looking for interesting dining options and new adventures in the city.