November 19, 2018
Data driven marketing strategies
With a wealth of data available to marketers, it’s a difficult task to collect the right customer information. It’s important to capture data at each point of the customer journey, but without transforming numbers into actionable insights, all that information is useless.
Brands who don’t leverage customer data miss out on critical marketing opportunities. A consumer’s buying consideration is set in moments, so when a marketer fails to target their audience at the right time, a missed opportunity could result in the loss of thousands if not millions of dollars.
To make sense of your customer data and turbocharge your marketing, follow the below tactics. These tactics have been used by some of the biggest companies around the world, and they show what’s possible when you mix data with creativity.
Market the customer experience
90 percent of all marketers believe that understanding the customer experience is critical to marketing success. With a creative approach to data analysis and marketing, you can design ads that reflect what you already know about your customer and the journey they take with your product.
In 2017, Spotify had amassed a valuable data trove of 57 million paying customers. But, what to do with so much data? Well, Spotify got creative!
In a campaign called 2018 Goals, the marketing team designed messages that reflected their customer behavior. The idea was to spread messages on posters around the world that tapped into the musical tastes of its customers.
Billboards displayed messages like: “Deliver burns as well as the person who streamed 'Bad Liar' 86 times the day Sean Spicer resigned,” and “Be as loving as the person who put 48 Ed Sheeran songs on their 'I Love Gingers' playlist.”
The marketing campaign was hailed as one of the most delightful deployments of user data in advertising history. It captured the quirks of its users and transformed numbers into hilarious marketing advertisements.
Reach the right audience with insights
Uncovering and activating insights are two very different things.
Uncovering insights helps build a picture of consumer intent, interest and needs. This picture helps you create ads that target exactly what a consumer wants.
Activating insights puts that picture to use. When marketers take action on their data, they're more likely to strike the "Aha!" moment — leading to a winning strategy that's focused on what consumers want.
CoverGirl created personalized messages for its recent LashBlast mascara campaign on YouTube. It used a smart bidding system that collected data from a machine learning algorithm to serve ads only to its “most interested” customers. The algorithm categorized customers into “most interested” based on their online behavior, therefore targeting an audience who had the most intent to buy.
According to Google, ads served with intent signals have 30 percent higher customer consideration and 40 percent higher purchase intent than when they’re served using demographic signals alone. This means that instead of just focusing on where you’re customers are, marketers need to place more focus on what they want.
Create personalized content with Artificial Intelligence
Artificial Intelligence (AI) has given marketers a new way to drive personalized advertising. After six years of collecting viewer data from customer ratings, searches and plays, Netflix used the power of AI to develop the award-winning series House of Cards.
The marketers behind this TV series got all the elements right: timing, branding, social integration and storytelling.
With the presidential election campaign between Hilary Clinton and Donald Trump dominating the media, House of Cards went with the hashtag #FU2016 to hit the emotions of its viewers. The branding reflected the same colors of the election campaign and used customer data to position itself in front of the right people, at the right time.
Netflix used AI to personalize the homepage and display artwork, featuring House of Cards to users who had previously shown interest in political shows or movies. Personalized content was shown to each subscriber based on what colors and features would grab their attention. Ted Sarandos, Chief Content Officer at Netflix, said “There’s no such thing as a ‘Netflix show.’ Our brand is personalized.”
For brands who want to activate their customer data, it’s important to devise marketing strategies that focus on delivery and personalized experiences. Tapping into data is not just for the analytical marketer, it’s also for the creative.
Without a mixture of both skills, Spotify, CoverGirl and Netflix would have failed to create marketing strategies worth talking about.