ROI and impact of data driven marketing on the bottom line for business

Data driven marketing set foot in this particular brand’s life when they decided to explore hyper local targeting approach to reach out their TG in the famous suburbs of Andheri (in Mumbai).

Data insights highlighted that the longest signal on Western Express Highway has commuters check their cell phones constantly to keep up with IPL scores. Working on this insight, the brand installed a digital hoarding with live IPL scores at that signal to attract consumers with value plus brand recall.

Data driven marketing is nothing but marketing strategies derived on the back of conclusions drawn by data scientists.

With the concept now taking root, we at Social Samosa point out a couple of errors that should be avoided.

Data Driven Marketing = Real Time Marketing

It’s one of the biggest myths that brands tend to follow. Real time marketing is complementary to data driven marketing and not equivalent to it. Use the right tools to verify whether you need to implement data backed decisions in reaching out to consumers on real time basis or translate data into a brief plan that spans over a few months.

Not everyone is an influencer

There is an influencer in every nook and cranny of the city. However, the question is who is the right influencer for a particular brand?

Use extremely strong data backed statistics to understand the demographics and substance of the influencer and how it will impact the brand. Certain tools allow brands to determine which influencers suit them the best. For instance, Thoughtbuzz identifies influencers basis the influencers interaction with the brand and vice versa.

Data driven marketing is not limited to big screens

Move beyond laptops and desk tops. Maximum data is generated from the compact mobile screen. A simple check in to a particular lounge from a mobile phone allows you to know where your consumers was, what did he or she have and so on.

Use the data to create smart marketing initiatives. Cater to mobile optimised data this will enable brands to track data across social accounts. Afterall, RoI comes in from all screens.

Smart targeting

A lot of us might not know, but, targeting is not limited to audiences. Keep a tab of what your competitors are planning.

In terms of targeting users, take a data scientist approach in figuring out which content resonates best with them. Video, audio or pictorial – invest in data that works the best with your niche.

Create a RoI driven approach towards social nexus

In the end, everything boils down to what gives the best bang of the buck. When executing a campaign, determine which platform offers best RoI modules for the brand. Don’t stick to Facebook and Twitter because of generic reasons.

Explore platforms such as Instagram, Snapchat and others according to the nature and the need of the campaign. It’s time to go beyond the usual.