Data has become the great force behind recent marketing techniques. As the world of marketing continues to grow, data continues to expand along with it. It seems that, “No matter the industry or market share, marketers everywhere are stewards of consumer data. It is our actions and abilities- and care and attention- the enables brands to use all the data we have to delight customers and engage them with our brands,” (Miller, 2013). It is through the use of data that marketing companies can prove the true relevance of marketing campaigns. Data is now being utilized in a number of ways. Some companies have used data to study campaign revenue, return rates, demographic analysis, cost efficiency, etc. Through data analysis, marketers are given the opportunity to enhance their marketing offers to their clients by proving statistical data and numbers proving their campaigns are worthwhile. Data-driven marketing allows the client and consumer alike to see proven results providing revenue for both the client and the marketers as well.
With this new data-driven revenue, marketers must think about other factors, including Congress and legal matters of that sort. It is important to note that, “The marketing leaders must think about what Congress is likely to do as relates to our strategies to drive revenue and consumer value, Marketers have to stay connected with their legal counterparts, ensuring that we are complying with their advice and direction,” (Miller, 2013). Marketers must ensure that the data that is obtained, is done so in a legal manner and that all legal processes and terms are being complied with. Data retrieval can be very sensitive and marketers must not forget to comply with these rules and regulations to ensure the legality of their campaigns, otherwise compromising their own business and business with their clients as well. Marketers must legally protect themselves and their clients.
Not only are marketers today concerned with legally protecting themselves, but they are also concerned with protecting their customer data as it is an asset to their company and their clients alike. Through data-driven marketing techniques, “Marketers today are partnering up with their IT counterparts to ensure that we have the systems in place to enhance and protect our customer data assets, leverage them for deep insights, and operationalize those insights into actions that benefit consumers,” (Miller 2013). Marketers see the value in data but also see the value in data that is of no use to them. They strive to keep and safeguard the important data so that their clients and consumers feel well protected. Clients and consumers alike are more likely to conduct business with a company they can trust and so the protection of valuable data is vital to marketing companies.
By teaming up with IT, data-driven marketing only further increases the consumer experience. Data and IT are able to team up to create marketing techniques in which the consumer is able to interact digitally with the client’s website bringing an opportunity for higher response rates and revenue. Data-driven marketing allows IT counterparts to provide mobile services so that consumers can interact via cell phones, allowing an even faster way to connect to the client.
All things considered, data-driven marketing is coming full force, allowing marketers to further enhance their marketing strategies. With the proper measures, data could further enhance a marketing campaign and lead to greater revenue when combined with the proper marketing strategy.
Miller, Stephanie. “Data-Driven Marketing Is More Important Than Ever.” Direct Marketing News. Direct Marketing Association, 26 Mar. 2013. Web. 13 Aug. 2015. <www.dmnews.com/dataanalyticsa/data-driven-marketing-is-more-important-than-ever/article/286061/>.