Data-driven marketing is a marketing strategy that uses data to define consumer behavior patterns and then uses that information for marketing purposes. For example, if the pattern shows that the majority of your target audience is engaging with you on social media, then you would invest your advertising budget there.
The main goal of this type of marketing is to deliver relevant content to each customer regardless of their behavior or preferences. The good news for companies is that large amounts of data have become available for them to use thanks to big data analytics and AI applications.
There are several advantages to using data-driven marketing over traditional approaches. It is more cost-effective and allows you to understand customer behavior better, build loyalty, deliver highly personalized content and improve marketing campaign performance.
However, this type of marketing does have its limitations. The massive amount of data makes it harder to analyze it quickly and correctly. Also, large companies are more likely to be targeted by hackers who steal marketing data.
This B2B Data Driven Marketing infographic post from Span Global Services gives you a brief introduction to the evolution of marketing data, and marketers’ opinions on data-driven marketing and how it impacts them as well as different challenges while collecting data and more.