Data Marketing is the collection, analysis and evaluation of customer data to enhance customer experience.
How does data marketing work?
Customer information is collected from a variety of digital sources, for example email, data warehouses, CRM (Customer Relationship Management) systems and social media. Analysis of this data then allows the company to develop and implement an effective communications approach with existing customers. However, and perhaps more importantly, it also allows companies to target potential customers and is the most widely used marketing strategy in many companies.
What are the benefits?
There are four main benefits in the use of data marketing. 1. Cost effective as it reduces the amount of wastage in both financial and time resources. 2. Improved efficiency in the provision of a targeted marketing strategy. 3. The ability to improve sales by reaching the correct target audience at the right time, and 4. Creating and maintaining a better relationship with customers and providing for them a personalised and improved customer experience.
In the world of highly digitalised and instant gratification demands of customers, companies need to employ modern techniques for capturing and retaining customers and data marketing strategies certainly fulfill that requirement. If you want to know more about this technology you can attend to a marketing conference.