The Impact of Data-Driven Marketing on Lead Generation
The Era of Hyper-Personalization
“The basic approach of positioning is not to create something new and different, but to manipulate what's already up there in the mind, to retie the connections that already exist.” – Al Ries
Data-driven marketing techniques are increasingly prioritized in CMO’s agendas across the globe. In this era of hyper-personalization, there is no dearth of data, but the onus lies on the marketing teams in putting the data to good use. Gone are the days when any engagement in an email campaign would be celebrated, or a 5% CTR rate would be considered adequate in display advertising. The benchmarks are set to improve notches above today’s standards as new techniques like micro-segmentation and machine learning are taking a more dominant place in marketing. These new methodologies can help retie the connections Al Ries mentioned and help win the mindshare of a prospect.
Data-Driven Lead Generation
Machine learning- a method of data analysis defined as a sub-set of artificial intelligence (AI), is changing the face of predictive marketing, and this trend is expected to increase rapidly. The new phenomenon is being dubbed as a mandatory survival technique for brands that wish to sustain and grow their business in today’s data-driven marketplace, and has proven extremely handy to marketers trying to decipher their data.
For example, a large retailer launches a broadly targeted marketing campaign resulting in only a slim customer increase. Machine learning, however, can help identify patterns and trends by analyzing the characteristics of the newly acquainted customers, and can utilize this information to specifically target prospects with similar characteristic when remarketing the same campaign. Marketers now know who to target and who will likely have a higher probability to engage. Brands that catch on with this trend of showing what their target audience would like to see will stand a better chance of gaining both a bigger mind and market share by taking full advantage of these mediums and tactics for future lead-gen purposes.
Profiling customers based on their characteristics and preferences, and running targeted remarketing campaigns for these defined segments, is an effective way to increase your campaign ROI.