How Data-Driven Marketing Drives Profits

The Revolution of Data-Driven Marketing

The idea of using information about consumers to help develop marketing campaigns won’t surprise many marketers. Marketing departments have been using surveys, sales data, and information gleaned from competitors since well before the dawn of the Digital Age. What’s revolutionary is the number of new tools that have emerged that can make the process more efficient, accurate, and profitable.

Using Data-Driven Marketing Insights to Increase Profits

Do companies that employ the latest technology and analytical tools really have an edge over their competitors? According to Forbes, the statistics about data-driven marketing departments can support the claim that they do. These are some of the findings from a recent survey of 300 marketing executives from all over the world:

  • Companies that report increased revenues with data-driven marketing: 55 percent
  • Companies that say they’ve engaged better with customers with consumer insights: 74 percent

Of the companies that say they have been slow to adapt the new ways of capturing and analyzing consumer data, only 24 percent reported better engagement and 20 percent said they had increased revenues. Out of all of the industries represented in the survey, the travel and retail sectors seemed to have embraced data-driven marketing the fastest. Real estate and finance companies are working to improve efficiency in similar ways.

Also, the respondents to the survey came from large companies. It’s fair to assume that smaller businesses may not have adapted to new technology as quickly. At the same time, a number of vendors offer tools that have been designed and priced for smaller companies. Small businesses that can learn to use consumer insights to engage customers and increase sales have a good chance to gain an edge over other small companies. At the same time, they can even level the playing field with larger companies.

Work With iTech to Gain a Competitive Edge With Data-Driven Marketing

We offer a variety of solutions to help many different kinds of businesses bring their marketing into the Digital Age. We want to help you gather, access and analyze the business intelligence you need to grow your company into a marketing leader. Get started by contacting us to discuss your business needs and objectives.

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