Opinion: How is Data Analytics making space in Digital Marketing
Coming up with offerings as per requirements and positioning them accurately to attract the right audience is what effective digital marketing is all about, opines Sahil Chopra, iCubesWire as he decodes how to leverage data in digital marketing.
Data analytics is the foundational building block of every business out there. And the engaging world of digital marketing is no exception. Nevertheless, data can only give you a headstart in your digital marketing endeavours if it meets two crucial checks:
- Uncompromised quality and
- Accurate deduction.
Today, more than 57% of the world’s population has access to the internet and frequents the world wide web. This means that it has become easier than ever for brands to reach their potential customers’ doorstep. In an effort to leave an impactful digital footprint behind, more and more brands have begun pushing their online presence.
Times have changed and so have your customers. They are more aware and market conscious and are searching for a personalised experience, which most companies fail to deliver due to the lack of insights and key data on consumer behaviour. Cracking data and putting it to use to analyse market scenarios has given digital marketing an edge. As days pass, marketing becomes more and more result-oriented.
Having a good grasp of consumer insights is only the first step. What comes next is vital: Relevance.
Gone are the days when one traditional method or strategy worked in appealing to more than one customer; now, the same customers are always on the lookout for offerings that feel more personal.
Data analytics have transformed digital marketing. It wouldn’t be wrong to say that it is more concrete now — with strategies driven on numbers and percentages that indicate what was appreciated in the market and what was not, what was engaging and what was not, and so on.
According to Gartner’s Marketing Data and Analytics survey 2020, 85% of the respondents surveyed feel that by 2022, significantly more of their organization’s marketing decisions will be based on marketing analytics.
The Data Analytics edge in Digital Marketing:
- Knowing your target audience
Data is at the heart of tying up loose ends between your business and your target market. Critical aspects like demographics and behaviors give you a hint of your customer’s favour and what will gradually gain you a conversion. Data can show you the bigger picture and insights into your target audience’s character by pinning their geographies, likes, and hobbies. This demographic data is an invaluable asset for any company looking forward to personalizing things a bit for their target buyer.
With more than 182 million subscribers across the world, Netflix has become a pro at targeted advertising. The company’s key to growth has been centred around data mining. Everyone who likes binging movies is already aware of how Netflix sends suggestions for the next movie you should watch. Now, this is predicted using one’s search and watch history. It has been found in a study that the above-explained mechanism influences about 80% of the content streamed on Netflix.
- Taking a peek into the future
Predictive analysis is what will help you take a peek into the future, making trends visible for you with more insights to eventually give you the much-needed push into making decisions on the grounds of data. It will help you stay ahead of the competition by laying out a plan indicating what you need to do and when you need to do it. The data you gather through predictive analytics also helps you acknowledge what product innovation your audience desires. Moreover, data analytics estimates future trends in the market, which can make necessary decisions and introduce an approach that helps you ace your digital marketing campaigns.
- Content that converts and contents
One of the most important facets of digital marketing is conveying the message right. From ad copies to graphics and creativity as a whole, we can test what works for us in real-time and secures more significant ROI with data analytics. Now, this gives us scope for tailoring messages based on the audience, platform and channel.
Data has always been at the core of Spotify’s ad campaigns. Spotify is one of the brands making the most of marketing analytics through its campaign – Wrapped that uncovers consumers’ listening habits. From Pachtaoge and BadhaaiyanTenu being played 89,392 and 5,220 times during the wedding season in 2019, Spotify’s witty communication backed with data gathered many eyes. This unique marketing approach managed to win a lot of hearts and get followers for the brand.
While estimating how effective your content marketing strategy is, you simply check what content is converting for you. Metrics such as most-viewed pages and most liked posts to give you an insight into what your audience likes and dislikes, what engages them and what doesn’t. This helps you in aligning your content strategy with your audience and ensures better results.
- Output optimization for better ROI
Excelling at understanding consumer behavior enables you to develop a content strategy that’s both effective and efficient in targeting. Data Analytics allows you to deep dive into your campaigns and studies the interactions you’ve received from your audience.
Data Analytics is the way forward to uphold your digital marketing campaigns by reworking your messaging, choosing the appropriate channel, and setting the right frequency. Data never sugarcoat things. It’ll inform you what worked better for you, email marketing or social media marketing.
After you have the data in your hands, it becomes an easy decision to align your investments to make more profit. Data Analytics integration has already become commonplace, with almost every platform offering reports on how well your marketing efforts are summing up and what you need to do to take the lead in the digital game.
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