The future of Marketing is in data or data is king as many marketing experts say.
The amount of data produced every day is overwhelming and more companies are looking to better understand data to improve the effectiveness of their marketing.
Data is an extremely useful asset and if used intelligently can:
increase the number and quality of your sales leads;
improve your messaging by making it more relevant to your target audience;
improve the accuracy and quality of your distribution list.
As marketers you may already know that data provides excellent insights into which content is better performing, what channels are delivering more leads, how many touch points you need to convert leads into sales, how you can increase conversion rates with better nurturing programs, how you can retain clients and ultimately support your salesforce to increase revenues.
Data can also help you re-define your products features and pricing strategy based on your customer insights.
According to research by Forrester, data analytics can not only improve campaign execution but also the relationship with your customers.
It all makes sense. If you have more data on your customers, you can better segment, define your buyer personas and deliver marketing communications that are more relevant and engaging.
Where is data having a strong impact on marketing?
Research by SpencerStuart found that for a large number of CMOs, SEO, email marketing and mobile were the marketing functions where data will have the largest impact.
To this list we can add PPC and social where continuous improvements in data analytics are providing marketers and data analysts with further insights on customer engagement and buying process.
Data is everywhere and to stay competitive your business needs to understand it and be able to act upon it.