How can customer data lead to efficient marketing in 2023?
The insights that types of customer data deliver help improve your marketing, product, and customer experience. This, in turn, assists in growing revenue.
How do you utilize consumer data to improve your marketing?
An improved customer experience can help more people buy from you and refer others to you. More than 73% of customers say an excellent customer experience assists them in making their buying decision, but when you have more customer data for digital marketing, finding adequate information can be a real challenge.
So how does a business wade through the mountain of customer data analytics for marketing and find functional digital solutions for profit, sales, etc.?
Here we will look at seven effective ways of extracting value from customer data marketing.
- Accepting the value of big data marketing – Big data, looked at without refinement, can seem like a vast, unwieldy mess of random information. But ignoring big data is missing a key opportunity.
- People who ignore big data because of its volume do so at the peril of their business. The first step to extracting value customer data is acknowledging that relevant information is “in there somewhere” and being willing to mine through it.
- Effective Investment in Analytics – Investing in business analytics is key to using customer information. That can help businesses unlock insights that bolster their competitive edge and improve business strategies, making them more efficient, robust, and thriving.
- At SkyTrust, we provide analytics solution that works even for small and medium enterprises.
- Using customer data in operations – Another effective way of gaining value from marketing data is applying it to your internal processes. Data from customer behavior and other datasets can help in increasing sales. Spending money on the right platform or form of marketing can help you accelerate your efficiency and time and reduce waste.
- Analyze historical data – When trying to dig our value from customer data, analyzing and assessing the historical data records helps in precision and future accuracy. Even if your current marketing or sales plan differs from the past, ignoring past records will be a big mistake, as it helps you identify the pattern.
- Keep a check on customer churn – Customer churn is a term that describes the turnover rate of customers from being loyal purchasers to those supporting the business only for a short period. Whenever collecting customer information, you will find ample data regarding changes in processes and a simultaneous change in customer retention.
- Social media is the window to upcoming trends – Social media holds a large amount of the world’s overall data. Analyzing all the unfiltered and unsorted data through social media accounts helps gather accurate customer data and value marketing tactics. It is a great trend indicator that can let you move ahead of the curve.
Data should be accessible – Every digital marketing agency should ensure that it shares all the digital insights with the relevant people at the very beginning. This is one of the most important moves for gaining a higher return on investment from customer data.
Strategy building using digital marketing and data analytics
Data analytics holds an important position in building effective digital marketing strategies. Only the best products or services have significant value in this competitive world. Data analytics helps digital marketing agencies reach their business goals through the right marketing strategy, product development, and engaging and retaining customers. Below are the ways that can help improve your performance marketing strategies through data analytics and digital marketing.
- Accurate data availability – Building a strategy without accurate data availability will not deliver the required results of effective marketing. Analyze your key performance indicators (KPIs) to measure your campaign performance.
- Reach your audience through the proper channels – Customer data marketing bestows successful results if data analytics are used efficiently. Different demographics determine the channels and methods used to reach your target audience. It helps you better understand your campaigns, ads, and content type.
- Use exact keywords – Proper keyword usage holds a significant share in digital marketing. Data analysis helps in identifying the audience’s search preferences. Keyword tools help users constantly check their competitors and their usage levels.
- Optimization – Ignoring past activities while predicting future social media marketing strategy’s future outcomes is not an act of intelligence. Optimization helps determine the budget and audience’s demographics based on particular products or services.
- Track ROI parameters – Digital marketing and customer data analytics work simultaneously to track the performance of ad spending and profits gained from it. Apart from performing marketing webinars, tracking parameters based on different metrics provides real-time and updated data insight, which helps to make accurate decisions and improve ROI.
Influencer marketing is more than just attaching a brand’s name to any well-known celebrity. Influencer marketing platform has become one of the best test-and-see marketing tactics. Millions of brands prefer taking out a separate marketing budget for this service.
What is Influencer marketing?
Influencer marketing is a cohesive form of digital marketing that helps get brands on the map. It uses celebrities, bloggers, athletes and other influential figures to promote a brand’s products and services on various social platforms like YouTube, Facebook and Instagram. Influencer marketing is more than just attaching a brand’s name to any well-known celebrity. Every social media influencer belongs to a particular niche community and has a loyal following.
Social Influencer Marketing Statistics
- As per the latest statistics count, influencer marketing has grown up to $16.4 billion in 2022.
- For every $1 spent on influencer marketing, businesses are grabbing a profit of $5.2 ROI.
- About 90% of people believe that an influencer marketplace is an effective form of marketing.
- With a successful result of influencer strategy in Australia and India on Instagram, 67% of brand shave started using the same.
- Platforms providing influencer marketing services in Australia and India have raised funding of more than $800M in 2021, indicating prominent growth in the industry.
- The global influencer marketing hub grew by 26% in 2021 allowing around 18,900 firms to offer or specialize in its services.
Social Influencer Strategy
There are ample influencer marketing strategies that allow a brand to grow and find its relevant audience. But before moving forward, even the top influencer marketing agencies in India and Australia focus on being aware of the 3 Rs of influence.
- Relevance – Choose an influence having an audience which is relevant to your target audience.
- Reach – It is the potential number of customers you can reach through the influencer’s audience base.
- Resonance – It is the potential engagement that the influencer can create with an audience relevant to your brand.
If you are considering social media influencer marketing as one of the prominent digital marketing services for small business, then being ready with a built-up strategy is required to make those MSMEs into large and recognized brands. The following are the basic strategies required –
- Set your goals – The primary goal in influencer marketing is to reach new target customers, not necessarily to make a sale, but also for recognition.
- Know the audience persona – Understanding your audience’s persona and using the best tools, before speaking to them is the right way to create a matching set of influencers list.
- Know the rules – All influencer marketing agencies have some defined rules to be followed for every video or reel promotion. So before hiring one, be aware of their rules.
- Research to the core – Before contacting any social media influencer in India or Australia, ensure to do your individual research on the trending influencers.
- Reach out personally – Before reaching out for partnership start organically by liking and commenting on their posts. When ready for partnership contact them through direct message.
- Collaborate with your influencer – Digital marketing influencers are content creators having their own personal brand audience. They will not accept a deal which hampers their reputation. Therefore, don’t stage-manage the campaign instead, suggest your inputs.
How Marketing with every Influencer Has Gone Wild?
Influencer marketing platform has become one of the best test-and-see marketing tactics. Millions of brands prefer taking out a separate marketing budget for influencer advertising. Whenever looking to power digital marketing services, it is recommended to contact the required and the best influencer marketer. On consulting the leading experts from the best influencer marketing agency India and Australia, SkyTrust has listed out some of the common influencer types and the best-use situations for each one.
- Mega Influencer – A mega influencer is the highest-ranking category of marketing digital influencer. They generally have more than a million followers with a diverse audience of multiple topics of interest. Contacting such influencers is quite expensive but they provide the greatest number of exposure. Some of its common examples are – Will Smith, Kylie Jenner, and other A-list or B-list celebrities.
- Macro Influencer – Macro influencers are one level below mega influencers. They can be identified with a following between 1,00,000 to 1 million. These influencers gain fame from the internet by producing funny or inspiring content. They provide the best influencer marketing service if you want to reach out to a certain niche of the audience but at a larger scale.
- Micro-Influencer – Micro-influencers have a following between 1,000 to 1,00,000. Being a social media influencer agency in India and Australia, if you are looking for influencers focused on a specific niche without any brand following, then this is the best pick.
Irrespective of the type, most influencers use GRIN influencer marketing software to turn brands into popular household names. Almost every influencer marketing agency in Delhi and Mumbai use GRIN for their influencer marketing needs. It has a network of more than 38 million influencers, allowing you to search for your best type. Apart from India, every digital marketing agency, Utah has successfully witnessed the rising power of influencer marketing.