Understand all about Data Marketing and its impact on business innovation
Faced with the advent of big data and artificial intelligence, data marketing has become a valuable skill for companies looking to improve performance. Can these technologies, which already benefit the biggest economic players, help SMEs/VSEs find their place in a saturated market? Let’s explore data marketing and its impact on business innovation.
Definition of information marketing
the information marketing is a special form of marketing based on the use of digital data to better understand customers and adapt its policies (offers, prices, distribution, communication). It brings together quite different players within 5 key segments: distribution and targeting; data collection and sale by rental; structuring storage and hosting; Data Quality and Data Management.
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What is data marketing?
Data marketing uses various data sources from different digital channels such as social networks, websites or mobile apps to analyze consumer behavior and adapt marketing and sales strategy.
How does data marketing fit into marketing and sales strategies?
A good example is targeted advertising campaigns, which can be more effective because they are aimed directly at a specific group of people. Likewise, data marketing allows expanding customer knowledge to tailor offers to individual needs or to analyze the overall effectiveness of commercial and/or promotional strategies put in place by a company.
Different segments of information marketing
What are the main segments of data marketing?
- Distribution and Targeting: the data is used to determine what type of content to show to which audience and on which platform.
- Data collection and sale by rental: companies collect consumer data from secondary markets such as e-commerce, POS (point of sale), and even third-party applications such as Google Analytics.
- Structure of storage and hosting: companies must have a system that can quickly generate reports from data stored in real-time.
- Data Quality: the aim is to ensure that the data is consistent, accurate and complete.
- Data management: data is structured and then enriched for a practical purpose such as consumer segmentation.
What are the advantages and disadvantages of each segment?
Each segment may have advantages and disadvantages depending on its use. For example, collecting and renting data can be very useful for a company, but it must also respect the privacy of consumers.
How can data marketing help solve traditional marketing and sales problems?
What are the traditional problems of marketing and sales?
Traditional marketing and sales issues typically include segmenting consumers based on a target product or service, optimizing advertising campaigns, increasing conversion rates, improving the customer experience, and marketing. increasing customer loyalty.
How can data marketing help answer them?
Marketing data helps companies quickly identify trends in the market through continuous monitoring of consumer behavior and purchasing decisions. It also allows you to analyze the overall effectiveness of a sales or promotional strategy, as well as more easily measure customer engagement with a specific product or service. In addition, data marketing is a powerful tool for increasing customer loyalty by better understanding their expectations.
The impact of data marketing on marketing and sales departments
How has data marketing led to new functions in marketing and sales departments?
With the advent of Big Data, it is now possible for companies to use a large number of different sources to take full advantage of what data marketing has to offer. Therefore, business managers need qualified professionals to manage this large amount of data, which has led to the rise of new professional roles such as Data Analyst, DPO (Data Protection Officer) or Data Scientist.
What are the main roles of data marketing professionals?
Data marketing professionals are responsible for collecting, structuring, analyzing and interpreting data to help companies make strategic and intelligent decisions. Their work also involves building databases from data from various digital channels, finding hidden patterns in data to extract interesting insights, and optimizing the relationship between the company and its customers.
After examining data marketing and its impact on business innovation, we can see that data offers a wide range of opportunities to solve traditional marketing and sales problems. This has led to the creation of new functions in sales and marketing departments, thus offering valuable support to businesses.
The ability of data to improve existing practices and create new products is essential for any organization that wants to grow. In addition, data marketing allows you to better understand consumers and refine your strategy to maximize your turnover. Companies can use the unlimited possibilities offered by data to find innovative solutions for their customers and stay competitive against competitors.