Data science as a discipline seeks to analyze and extract valuable information that allows you to make intelligent decisions for the company, especially when it comes to marketing strategy, a pillar for the generation of business reach and demand.
when collecting customer information one of the biggest concerns is how can I go beyond just a descriptive analysis and extract insights that allow me to make decisions with the least possible risk and that can be converted into revenue for the company. that is where data science appears to shed light and provide those answers.
Through data science it is possible to collect, process and evaluate data for the identification of patterns, trends and opportunities for improvement that will boost the results of your strategy, a powerful tool for generating results.
According to a study by AI Marketing Engineers, SMBs have seen an ROI growth of 25% from their marketing strategy, as their decisions are data driven, as well as brand awareness can increase by up to 56%.
Although there can be multiple applications within a marketing strategy, we want to focus on the 4 most powerful ones:
The use of clustering serves to identify more specific market segments can offer significant advantages in terms of personalization and effectiveness of marketing strategies, as such, clustering, is a technique that allows companies to identify homogeneous groups within a data set, based on similarities such as demographic, behavioral or psychographic characteristics. This detailed segmentation facilitates the creation of much more targeted campaigns, with a direct impact on the right audience.
Creating predictive models of the probability of purchase, abandonment or retention of customers, regression models, decision trees, and neural networks to predict future behaviors, will be the key to foresee the outcome of your strategies and, based on these, make intelligent decisions that directly impact the company's results.
Through natural language processing (NLP) techniques, we can analyze the opinions of users on social media and review platforms and identify the perception of the brand through text analysis, this generates powerful data to analyze the satisfaction of your users with your brand and be able to react faster to any result you get, to the benefit of your strategy.
We can generate personalized recommendations that create targeted content based on data analytics (e.g., dynamic content in emails) and thus be able to increase sales significantly. Precisely McKinsey revealed in a report that 71% of consumers expect to receive a personalized experience from brands, while 76% are frustrated when this does not happen.
Although marketing and data science are different disciplines, the latter lends important support to the former in generating all the information needed to make the most important decisions in your strategy.
You can think of marketing as the set of actions that we deploy to generate reach and demand for our business, but these actions must be measured so that through data, we can have information on performance, patterns and trends that will lead us to make better decisions for the business.
With data science we can generate a high impact on marketing strategies, that is why we want to highlight these important benefits when we have not only the tactics, but with the right tools for leveraging data in marketing:
1. By being able to understand the behavior and particular habits of customers, it is possible to offer a better user experience, thinking precisely about their particularities.
2. Don't throw your efforts away! To the extent that we can make decisions based on data, it is possible to optimize strategy costs because your tactics will be based on real behaviors, not assumptions or unproven theories.
3. It is possible to generate a whole SEO transformation for the company, since by understanding who your audience is and what their particular segments are, it is possible to generate content oriented to their specific needs and pains.
4. Growing traffic and attracting target audiences is the great challenge of all companies in digital channels, as long as data leads the way of your marketing strategy, it is possible to optimize the effectiveness of your Lead Scoring, aiming directly at the quality of the leads you attract.
5. When the strategy is integrated with marketing and data science, you can monitor what users think about the company, you can know what the target audience thinks about your products and services, and based on this information, make the best decisions or react immediately to any news.
6. Think of all the information you will have at your disposal to optimize one of the most difficult channels for generating results, is the achievement of a consolidated email marketing strategy and much more certain about the path you should take to achieve the best results.
That is why, to the extent that you have people who know how to analyze data, you have the tools to obtain information and a wide openness to the decisions you must make, it is possible that you can promote the design of a strategy not only robust, but powerful in terms of impact and results.
It is time to take that step and transform the way you do business and Venditori can advise you.
