Data-driven marketing describes a mindset or a culture of how insight is used within a business.
It includes harnessing the many different formats of data that are available today including:
- Customer data including profile information and research about their characteristics and preferences
- Digital analytics data available from services like Google Analytics which shows behavioural information
- Marketplace information about competitors that can be used for competitor benchmarking
To adopt data-driven marketing requires that senior managers:
- Recognize the importance of insight and data in decision-making to improve marketing activities
- Communicate the importance of using insight to decision making to staff to encourage the mindset
- Define processes to encourage the use of data to inform decisions, for example, regular monthly reviews and post-campaign reviews. Unless time is ring-fenced for this
- Invest in the tools and training needed to improve analysis skills