Due to increasing privacy concerns from consumers, regulators and governments; companies are moving from large-scale data harvesting strategies to focusing on essential data needed to serve customers better for their brands.
Capturing the right data enables your brand to predict customer needs and wants for the development of a more personalised marketing approach to increase overall sales.
The type of data capturing is commonly based on your customer’s purchasing behaviours of their brands such as transactional value, frequency/recency of spend, demographic profile and geolocation or general customer information.
With the massive increase in consumers’ usage of technology such as social media it is possible for vast amounts of consumer data to be collected. But with increasing online privacy concerns companies are now changing their approach to data driven marketing.
Here are the top 3 trends to watch out for in 2022:
01) Balancing Privacy and Personalisation
Brands are proactively improving their data harvesting strategies to better understand their customer needs to enable a more personalised approach when sending marketing communications.
To allay privacy concerns, there is now a conscious shift from companies to only seek relevant data from consumers, ask permission prior to collection, and communicate how the data will be used. This instils trust from their customers and relevancy of the communication strategy.
02) Reliance on Behavioural Data
Behavioural data is all about how customers interact with your brand. The most common sources for this can come from your data warehouse, website, Google Analytics, digital media ads, email comms, apps, help desk, chatbots and your sales team.
Once an action is undertaken by your customer it is stored as an “event” allowing companies to then analyse the source of data into actionable insights.
The popularity of behavioural data has instigated significant changes in the privacy landscape with more of a focus on Google Analytics or Matomo. These behavioural analytics allow companies to continually optimise their overall conversion rates, customer engagement and retention.
All these data behavioural trends create a shift change for marketers to go deeper in their analysis as part of their data collection strategy.
03) Data Tools for better Integration
The data tools available to marketers is constantly growing and many companies are using various platforms integrated into their systems. This enables better analysis for actionable insights for the development of the right marketing strategies.
The types of data tools measure key metrics, such as website traffic, page views, click-through rates and conversion based on the performance of their digital media or CRM campaigns.
There is becoming more of a need for better integration and reducing the overall complexity of these data tools into company systems. This could include an API data integration into a
centralised data warehouse and a CRM enterprise platform to enable one customer view across all OMNI channels such as website, call centre (inbound and outbound calls), sales teams and apps.
All these data driven marketing trends create a shift change from collecting as much data as possible to a more considered and strategic approach in your marketing strategy. It is therefore important for companies and their brands to really understand their customers better without being intrusive in how this information is collected.
To get further help on your data driven strategy, get in touch with DataClique Marketing
Author: Leeann Ellison, Founder/Director, DataClique Marketing, May 2022