Use market intelligence to uncover insights that inspire audiences to take action
Ads and search recommendations permeate almost every digital media channel. In fact, it’s estimated that the average person encounters between 6,000 to 10,000 ads every single day. So how do you break through the noise and deliver relevant and personalized content your target audience will find useful?
The answer: leverage data to gain market intelligence.
The more favorably people respond to promotional content, the more data marketers can gather. This data then informs new, better-optimized content strategies. The cycle continues, generating increasing value with every cycle.
But data-driven marketing isn’t exclusive to online retailers and media channels. It’s a powerful tool that any brand can use to analyze customer behaviors and predict their next moves.
Data-Driven Content Creation Drives Customer Value
At White Lion, we believe the key difference between data-driven marketing and the traditional approach is that the data-driven method focuses on generating value for customers. Instead of relying on assumptions or intuitions about customer preferences and behaviors, brands can look at reliable, accurate information about their real-life actions.
This enables brands to develop marketing strategies based on actionable insights. Data-driven digital marketing services reduce waste and inefficiency by targeting audiences that are most likely to convert.
This enables organizations to manage and maximize profitability of their marketing investments. Actionable insights and visuals support strategic business decisions, drive cost reduction, and improve contract pricing. 93% of Deloitte survey respondents are committed to improving cost data with visual analytics.
There are many ways brands can put data-driven content creation into practice. These approaches range from simple customer messaging efforts to elaborate segmentation and data cataloging systems that come close to the ideal of personalized, one-to-one marketing.
For example, Vineyard Vines uses predictive analytics and cross-channel communication to communicate with customers on their preferred platforms, generating a 182% return on their marketing spend compared with their previous “batch-and-blast” approach. The ability to quickly generate personalized content is central to their success.
Vineyard Vines successfully predicts the products that customers want by gathering customer data and identifying customers with affinities for certain product groups. This goes far beyond what a generalized marketing campaign can achieve.
Customers reward this approach by increasing purchase frequency and basket size. A 2019 BCG report found that, on average, retail customers bought 110% more times, spending 40% more per order when exposed to a highly personalized shopping experience. Importantly, these customers also provided 20% higher net promoter scores compared to customers shopping without personalization.
It should come as no surprise that retail leaders in that report said they would increase their investment in data-driven personalization by an average of 10% per year. Most people are already desensitized to generic ads that don’t accurately reflect their current needs. But they are highly receptive to promotional content that actually delivers value.
Artificial Intelligence Powers Insight Automation
Until recently, data-driven marketing remained a time-consuming manual process. Human analysts needed to crunch numbers in order to derive actionable insights from data. As datasets get larger over time, this process becomes slower and more expensive.
Today’s brands can leverage AI to perform digital marketing services that rely on data mining and analytics. This removes production bottlenecks and allows brands to leverage real-time insight into customer behaviors.
How White Lion’s Data-Driven Marketing Solution Works
White Lion Interactive takes a three-step approach to interpret user data to drive value for brands:
1. Identify the Data Sources Needed
Identifying good data is the first step towards achieving personalized marketing content at scale. As e-commerce markets continue to grow at an accelerated pace, customer outreach’s efficiency and relevancy will become increasingly valuable. Brands need to know where they can collect useful data.
This means building a repository for past customer transactions and cataloging data generated by those transactions. Data cataloging and organization are critical – your insights can only be as accurate as the data that supports them. Learn more about our data management services through our work with the Propane Education and Research Council (PERC).
2. Analyze the Entire Consumer Experience
Data analytics offer brands robust tools for understanding every phase of the consumer experience. Once the data is ready for analysis, brands can start looking for the patterns that come out. These patterns reflect consumer behaviors that are uniquely specific to the brand itself.
Starting with previous customer experiences and interactions, brands can first identify areas that need improvement. There may be customer groups that your brand underserves or ones that cost the company more than the revenue they generate. Analytics provide a foundation for predicting future behaviors and trends.
3. Generate Actionable Insights and Visuals
Our team of expert data analysts, digital marketing strategists, and developers build systems for interpreting customer data and predicting future behaviors. We help clients answer their marketing questions and produce visuals in multiple interactive formats that enable data-driven decision-making.
For example, our team might use regression analysis, hypothesis testing, or predictive modeling to uncover insights hidden in your customer data. We then arrange this data visually, producing compelling content that illustrates the best path forward no matter who the target audience might be.
Learn More About Our Data Management and Data Visualization Services
At White Lion, our goal with every client is to establish an automated process for end-to-end data stewardship. By automating the most resource-intensive tasks in data collection, cataloging, and analysis, we empower brands to spend more time improving core business performance by being able to make informed marketing optimization decisions. Visit our website to learn more about our data management, data mining, and data visualization services.
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