Here on the blog, this month is all about the evolution of marketing. As you’ve probably noticed, it’s changing fast and furiously. Our approaches to marketing and business decision making must be adaptable; we must evolve with the world around us. The most essential part of the New Marketing Value Chain is data. That does not necessarily mean big data, either, even though that buzzword gets a lot of attention.
In recent years, we have gained widespread access to customer data. Thanks to the internet, we know more about our customers than ever before. While the Old Marketing Value Chain was based in rules and tools–understanding marketing concepts and applying them to the latest technological advancements–the New Marketing Value Chain is based almost entirely on data-driven insight.
Letting data do the work for you takes the guesswork out of marketing, and as we’ve said before, successful marketing campaigns are based in predictability and returns. Data provides the insight necessary to give your customers what they want, when they want it. And more often than not, that results in closing the sale for your company.
Data-driven insight, the first link of the new value chain, reveals “why” marketing works. Through careful analysis, marketers can find patterns that change decision making for the better. In your data, you’ll discover profitable customers, new business opportunities and leads you had no idea were there.
Even better? Your marketing campaign decisions will start to reap rewards that previously, you’d only imagined. Real-time insights help you change creative on the fly, when necessary, and take advantage of every opportunity to provide value and promise to your customers. In the end, they’ll thank you for it by making a purchase. Drive them there by becoming a trusted resource that always seems to know what to say.
The second link of the chain, “strategy,” is now more important than ever. Thanks to data’s disruption, companies are free to minimize waste and stop flying blind. The ROI of marketing has never been more certain than it is today. At every turn, make your decisions quantitative, and your results will become quantifiable.
To learn more about the New Marketing Value Chain, follow our blog closely this month and stay tuned for a white paper discussing this topic–available soon.
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