Data is such a huge part of a marketer’s toolkit – in fact it is fair to say it is the currency when it comes to acquiring customers.
Loyalty programs exist to benefit the data pool, just as much as they exist for the customer, website data and analytics are getting deeper and deeper and with the growth of Facebook as a marketing acquisition tool, the demographic data is starting to become valuable too.
But it’s not about the data.
There are industries in the world right now, sitting on mountains of data with absolutely no plan to make something useful out of them. So, what is this “currency” good for then?
Data gives marketers speed:
The first thing you see as you begin any digital transformation in marketing is the speed afforded by automation. Clever segmentation and automation pathways make marketing “happen” with little or even no effort. In addition, these platforms provide dashboards and APIs to read the data and begin to make key decisions about content, successes, failures and ROI.
Data gives marketers visibility:
We’re already seeing it almost everywhere we go – the innovation movement and the market are asking us to change our relationship with failure. To proceed with focus and determination, but unromantic about the execution, ready to learn and move on the successes and rethink the parts that didn’t work. Visibility of data is driving the charlatans out of the room and bringing marketing technologists into power as a valuable part of any organisation.
My point of view: replace data by digital and i agree. Just data is necessary but not sufficient in these times of disruption.