Marketing has become a data-driven function at most companies. Gone are the days when the Don Drapers of the world thought up extravagant marketing campaigns and executed them without running tests or conducting detailed ROI expectation studies. According to a Teradata survey, 78% of marketers feel pressure to become more data driven in their day-to-day jobs. Gut instinct, while still a valuable skill, can’t be the only tool in a marketer’s tool belt. Instead, a marketer must be literate across all digital channels, along with the wealth of data that comes with them.

As the data revolution has gained steam, companies that provide information on consumers have increased along with it. Companies such as Acxiom, Experian, and of course WealthEngine help to highlight consumer data that can help companies drive more revenue and make better decisions. There are use cases for consumer data across all parts of a business, but arguably no more than there are in sales and marketing.

Today, we’ll stay on the marketing side and discuss the first three ways you can use consumer data to drive revenue. Next week, we’ll finish up the post with the last three ways that you can use consumer data to help your sales.

  1. Personalization of Marketing Content
    Personalization is not just a fancy buzz word - it’s a real marketing trend that is made possible by the digital enhancements that have been made over the years. However, personalization is not possible unless you know information about the person for whom you are trying to customize your content. Understanding more about a particular person, such as the car they drive or their interests, can help you focus on the content that is going to best resonate with them. 
     
  2. Build Targeted Campaigns
    Have you ever received a marketing piece that just wasn’t meant for you? We’ve all been on the receiving side of that. As a marketer, I can tell you that this happens sometimes – particularly if you can’t build detailed segments of your prospects. The more generic your segments, the more likely you’ll swing and miss with a good number of people that receive your communications. By using consumer-level data, you can go deeper with your levels of segmentation. By doing so, you can become much more targeted with your campaigns, ensuring that the right people see your materials and you won’t waste a touch with the wrong ones. 
     
  3. Increase Marketing Automation
    Marketing automation platforms have become more sophisticated every year. You now have the capability to build detailed campaigns that could go in a number of different directions based on user actions. You can also vary the steps of a campaign through other triggers, such as a characteristic about a person. Some of our customers connect directly to our data through an API and use wealth as a trigger, routing potential prospects through different journeys based on their wealth.

Rich consumer data can be a game changer on the marketing front. By employing some simple tactics, your marketing campaigns can transform from generic into highly focused conversations.

Join us next week as we finish the post by focusing on the ways sales teams can use consumer data to improve their processes. And as always, if you have a story in which you used consumer data to improve your marketing efforts, let us know about it in the comments below.

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