Important Statistics on Data-Driven Marketing and What it Means for Your Business
Data-driven marketing is the future. Data enables companies to more effectively target, engage and connect with consumers, which is what consumers now expect. We recently reviewed an extensive study from Forbes Magazine on the overall landscape of data-driven marketing and learned more companies are now using this strategy. In fact, 88% of companies surveyed used data to enhance their understanding of each consumer. With easy and often free tools like Facebook and Google Analytics, we have a better understanding of each visitor, customer, and prospect within our database. The majority are using data to better focus their messaging and content -making sure what they say resonates with their target. This probably leads the majority of them to believe that data-driven marketing makes them more consumer-centric.
The results, aside from better engagement (75%) is that those companies who adopt data-driven marketing are more likely to have an advantage over the competition and increase profitability. In fact- they are six times more likely to be profitable year-over-year. That’s quite an endorsement. And yet – there is still opportunity in this emerging marketing strategy. 87% say data is the most underused asset in their marketing departments. Based on early results, it may be time to increase your data in 2017.
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Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API or bulk files.