“Half the money I spend on advertising is wasted, and the problem is I don’t know which half” Lord Leverhulme – founder Unilever
Marketing has moved on since Lord Leverhulme pioneered the
marketing industry with the effective use of art in advertising.
Marketing is considerably more complex today with the advent
of digital and social media marketing to add to the list of more traditional
tools. We’re also under ever increasing pressure to justify our marketing spend
and that’s why it’s never been more important in this new marketing environment
to utilise data driven marketing to help us deliver a return on investment from
our marketing activity.
Today, decisions on the marketing strategy or
product/service campaigns must be based on the insight data can now provide us
with – rather than past experiences, habit or even gut feel.
Evidence is out there – ‘82% of organisations do not use data to optimise their marketing activity, 18% of organisations that do have a significantly better financial performance’*
The beauty of it is every organisation, large and small, is
probably already sitting on a mine of high quality, valuable data. This data
will be residing in existing/past customer records, new/old prospect lists,
lapsed and dormant customer archives etc - it simply needs to be accessed in
order to be utilised.
Data driven marketing is not just another marketing concept,
it is an essential, fundamental focus for any organisation wishing to deliver a
clear return on its marketing investment.
If you would like to find out more about effective data
driven marketing strategies and examples of how data has delivered tangible
results for some of our clients, why not get in touch?
*[Data-Driven
Marketing: 15 Metrics Everyone Should Know]
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