As we’ve noted, a well of data creates future possibilities and competitive advantage. Is your company using data-driven marketing? Below are some links that illustrate data’s importance in marketing, including a concrete example in the travel industry. If you’re interested in how data is affecting different industries, check out our posts on banking and insurance.
Why Data-Driven Advertising Will Be the Next Frontier: This interview with John Kenny, CSO of FCB Chicago, is an interesting look at how to think about accessing data. Kenny argues that data allows us to be bolder in our decision-making, since we have facts to back us up. My favorite line: “Facebook data tells me how you wish to appear, Google’s data tells me how you fear you appear, Pinterest tells me what you’re dreaming about, Amazon tells me what you’re settling for.”
Travel Marketing Needs to Be Data-Driven, Not Rules-Driven: Travel customers submit all sorts of details while searching for details—travel preferences, age range, price points, etc. As this article notes, customers also know that travel prices change frequently due to things like dates, weather, and events. Marketers should be willing to dive into the data in order to meet customers where they are.
5 Misconceptions About Data-Driven Financial Services Marketing: This piece is a bit sunshine and rainbows without acknowledging potential dark clouds, but it does push for some creative thinking when marketing financial services.
Five Steps to Build a Data-Driven Marketing and Communications Model: The suggestions here aren’t necessarily groundbreaking, but I like the details they include. For example—listening to the bad data, as well as the good. As the article says, “A/B testing is a tedious game that requires honest, open listening…”
How is your company using data in its marketing? Share your stories in the comments.