The marketing industry is on fire – and not in a good way.
The industry is in ever-accelerating flux. With every passing day, it’s seems increasingly difficult to reach customers – and indeed customers have taken over control of marketing.
2015-2016 will see wild, unprecedented changes in data-driven marketing. You can, however, survive and thrive when you heed these top eight 2015 trends in data-driven marketing:
1. Customers Take Control
The biggest change in data-driven marketing is that marketers are no longer in in control. Who’s in charge now? The customer. For example, witness the tsunami-like shift of marketing to mobile. Whether your company likes it or not, customers are dictating how marketing works – and does not.
2. Relentless Industry Flux
Because of ever-accelerating technological changes, marketing will be in constant flux from here on out. Marketing leaders will be those who face their fears, and quickly respond to ever-changing customer demands, with innovation and creativity. They will continuously leverage technology to improve the customer’s experience, through laser targeting – with the ideal message – at the ideal time.
3. Signal to Noise Overload
Another trend fueling data-driven marketing is that it’s increasingly difficult to get customers attention. Marketing is changing almost daily – last week’s campaign may no longer be effective this week. Data-driven marketing reveals which marketing efforts will be most effective, right now.
4. Overcoming Data Bias
How you do respond to this ever-accelerating flux? There is only one way – mine your data. Stop being a wimp. Get over any remaining bias you have towards data mining. The coming year will see a big shift in market share, toward companies that efficiently mine increasing volumes of data, exploit it relentlessly, and continuously act upon findings.
5. Back to Basics
Don’t overthink data-driven marketing , keep it simple. The most successful marketers of tomorrow will be those who focus on business basics. You need to leverage data to identify best customers, generate more customers like them, and discover the best ways to reach them effectively. Your data reveals the answers to all these questions and more.
6. Throw Bricks at Glass Houses
Marketers must be increasingly willing to change the system – or even blow it up. Your data will constantly be changing, it will constantly revealed new insights. Study your results and your competitors’ results, then be ready to continuously reinvent your marketing.
7. First to Act
Marketing is no longer about being creative. Our industry is increasingly centered around collecting data, insightfully analyzing the numbers, and acting effectively and continuously upon those insights. The big winners will be the companies that act first, and take action upon their analytics, allowing the data to guide marketing, business, operations and more.
8. Focus on Marketing ROI
Data-driven marketing will both fuel and enable an increased emphasis on measuring marketing ROI. The most successful marketers will be those who not only measure their campaigns, but measure profit generated by marketing. Only then can you focus your resources on your most profitable options.
Conclusion: The key to marketing today is knowledge. To get ahead and stay ahead, you must relentlessly look at your data, and turn insights and action. To prosper now and in the future, get on top these eight trends now.