How Data and Digital Strategy Impact Marketing
Using data to tailor your messages will remain a critical part of any marketing strategy
58% of Chief Marketing Officers (CMOs) say search engine optimization (SEO) and marketing, email marketing, and mobile is where big data is having the largest impact on their marketing programs today. source: www.forbs.com
Consequently, today’s companies are focused on maximizing data to provide insights that ultimately lead to increased customer conversion and retention. Companies will continue down this path in 2017. Customer data has proven to provide a tremendous value in the expansion of business.
So, what is a digital strategy and how can it help me?
As per Wikapedia:
A digital strategy is a form of strategic management and a business answer or response to a digital question, often best addressed as part of an overall business strategy. A digital strategy is often characterized by the application of new technologies to existing business activity and/or a focus on the enablement of new digital capabilities to their business.
Digital strategies include some items such as; marketing and customer-focused efforts such as web sites, mobile, eCommerce, social, site and search engine optimization, inbound marketing, and advertising. But this has expanded to incorporate data from company CRM and CMS systems. With proper segmentation, this data can improve efforts in outreach to specific target demographics which will then increase conversions for sales and donations.
So now you know what a digital strategy is but what does data have to do with anything?
Data Drives Your Digital Strategy, Increases your Sales, ROI and Impacts your Business.... Here's How
- Optimizes pricing strategies
- Gives you greater customer insight
- Provides better customer analytics
- More efficient product improvements
- Defines your customers' buyers journey
- Automates your sales process
- Create smarter email campaigns
- Organize and improve your website navigation
The world's data is growing by more than 40% each year. At this point, most companies have implemented some sort of digital marketing and sales program but will soon face a huge data pile up. Is this a burden or a goldmine? That depends on if you know how to use your data correctly. The top performing companies use these huge data piles to draw conclusions that will help to improve their business practices and speed up their growth. Read the details on the 8 ways big data will impact sales in 2017.
A key decision any business owner or nonprofit organization makes on implementing new strategies with technology is how to invest in their company or organization. When it comes to using data effectively it is important to invest either in your team with employing the right person or people to organize the effort or know when to bring in a professional team as a vendor to help get the results you are looking for. This can have a major impact on your ROI. You can spend money on internal staff to do the work, but if they are not experts in implementing the strategy you will be shocked at your actual costs. By using existing staff you may think you are saving money but when you audit your expenses it may shock you to see that you probably spent more money than hiring a key employee with experience or bringing in a vendor to facilitate your new initiative.
So if you are looking to increase your ROI it may be time for you to implement a digital strategy and take a closer look at your data. Consult with a professional first to review and set priorities. Then map out a plan for the right time to invest in your business to expand your efforts. You can always start small and scale up as you grow.
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Partner at Mosaic. As a certified inbound marketing specialist, I work with clients to devise and revise digital strategies to create positive growth for Nonprofits, foundations, issue-based initiatives, and service-based businesses.