How Technology Can Improve Your Marketing Strategy Efficiency

Tuesday, December 5, 2017

How Technology Can Improve Your Marketing Strategy Efficiency

The marketing landscape is changing at a breakneck pace due to the advent of new technological advancements. In the modern business environment, your business will not succeed if you rely on your gut instincts to advertise or promote your products. That is where technology works the magic. However, hoarding data will never support your business efficiently. 

What your company needs is valuable information that will go a long way in assisting your marketing efforts. When the internet went live almost two decades ago, sales initiatives and marketing have flourished thanks to big data. B2B marketers lead the way in marketing strategies that are data-driven. Marketing strategies that use data and analytics have proven to increase profitability and productivity by 5%-6% as compared to their competitors who don’t use big data technology.

Firms that have employed data-driven decision making on sale and data-driven marketing have not seen an improvement in how they market their products to consumers. However, these companies have experienced an increase in their return on investment (ROI). Companies need to ensure that they have the right human resource and the right tools in place for big data technology to have a positive impact on their marketing strategies. Firms can gather marketing using tools such as BI dashboards. To make better marketing decisions that are data driven, hiring analysts to break down the collected data will lead to positive results. We have compiled several ways in which big data technology will help your product marketing.

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Gaining a competitive advantage

One of the best things that big data-driven marketing can help your business with is gaining a competitive advantage. Marketing that uses big data allows firms to know how they rank against their competitors and how to surpass their initiatives of marketing. You can learn more about your competitors through social data. Social media analytics tools have helped businesses know how many retweets that a product by their competitor receives. You can also learn how you can employ new strategies to stack up against them by studying the trend of their followers and likes. These tools can also help you learn about your competitor’s audience demographics. You can also use search engine data to improve on how you rank on search engines in a way that beats your competitors.

Improving on how you manage your budget

One of the most significant challenges experienced by the management of any firm is to achieve the targeted ROI while ensuring that they stay within the allocated budget. With the use of big data technology, marketing is more targeted and focused which allows managers to remain within their stipulated budgets. For instance, managers can maintain their budgets by using social media profile data to identify the marketing efforts that are engaged by their target audience the most.

A lead nurturing process that is more personalized

Customers who are loyal to your business need to feel important and that they have a meaningful relationship with your company. A more personalized nurturing process can be achieved by using data-driven marketing. This can be as simple as how you use the name of your client in emails. For example, using “Dear John” as a pleasantly in an automated email will have a more personalized feel that the usual email greetings. Companies can now quickly identify who visits their website on a regular basis thanks to developing technology. By that, marketers can nurture a good relationship with potential clients on multiple channels that are found on the internet today.

Boosting digital marketing efforts by focusing on user experience

One of the things that digital marketers need to capitalize on to increase their sales is user experience. The experience of your consumers after they visit your website is your responsibility. Data-driven marketing can help you craft a landing page or a website with the consumer’s needs in mind. Website heatmaps data can give you a clue on the part of your web page that your visitors are clicking the most.

By  Carol EvensonEmbed

Carol Evenson is a corporate trainer and experienced business consultant. She specializes in team management and growth hacking.


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