Clear the Marketing Clutter: Data-Driven Segmentation for Accurate Target Marketing
In today's competitive, dynamic business landscape, the digital marketplace has become the most prominent marketing medium. This is due to the fact that digital marketing is the most inexpensive and measurable means for expanding a customer base and increasing sales. It is also at the forefront of improving customer experience because it provides a highly customizable and targeted touch point. At a time where consumers have exceptionally high expectations and one missed step can send them right to the competition, digital marketing is more important than ever.
However, to make digital marketing as strategic as possible, you must accurately define and profile your audience to leverage its targeting capabilities to the greatest advantage. This requires effective, data-driven segmentation that makes the most of all available customer and prospect information, including the "traditionally hard-to-access" customer data housed in the long-trusted mainframe. Because it has been the "keeper" of data for so long, the mainframe is likely to offer the best snapshot into target audiences to create the greatest potential engagement.
Here are a few reasons data-driven segmentation is significant, and the factors significant to its success.
It's About Actionable Data
Gone are the days when targeting your marketing campaigns by age, sex, zip code and household income can be considered sufficient, or successful. To compete in today's digitally driven world, businesses—regardless of industry—must achieve a 360 degree view of their customers. This is made possible only by integrating data across all platforms and from all available sources to realize true data-driven segmentation.
Data-driven segmentation relies on the ability to create, and identify, actionable data—data that demonstrates what a customer/prospect is worth to a company, how often they interact with the brand, purchasing habits and preferences, what they currently own and, most importantly, what they are yet to own. Organizations armed with this information can more acutely drive the message and have an exponential effect on marketing efforts.