Marketing can be defined in different ways, and there are always critical choices to be made. Some marketing strategies focus on developing relationships with potential and actual customers. Others emphasise the importance of gathering information about the market, and working out appropriate segments and targets to focus on.
Data marketing is an approach that can be used in both of these ways, and in many others too.
What is data marketing?
Data marketing, or data driven marketing, as it is sometimes called, makes use of diverse sources of information about the way consumers buy and use products or services. It is not just a question of gathering huge amounts of data, although that is part of it.
The key to data marketing lies in analysing and understanding very big data sets, many of which exist already in various forms. It is about using that phenomenal store of data to personalise and customise products for carefully targeted individuals.
The future is data marketing
Understanding past behaviour gives us insights into the ways consumers will behave in the future. Data marketing harnesses the powerful knowledge hidden in masses of data, and helps us to make all marketing activity more timely and effective. Automated messages can be synchronised with life events, for example. Adverts and emails can be refined and personalised to meet the changing expectation of individual customers.
Multi-channel systems are increasingly integrated and responsive, and that is why data marketing is sure to be the biggest marketing trend of the future.