5 Most Effective Marketing Tools to Boost Revenue with Data-First Marketing Strategies
Remarkable customer relationships can be built by practicing consistent understanding and analyzing prospects and customers to create personalized customer experience for your customers. Big brands like Amazon follow this as a ground rule for achieving their business success. So, how to actually implement this customer-first mantra into practice – how will you be able to connect more efficiently with your prospects and customers with a customer-first strategy? Well, the best and more effective answer is starting with the customer data. So, here comes data-first marketing or data-driven marketing strategy that mandates involves making calculated marketing decisions which can optimize campaigns to customer data. Marketers need to make the utmost use of reliable and accurate customer data in making all the business decisions to ensure they can identify customer profiles better, enhance customer segmentation, targeting and retargeting by delivering personalized messages and experience to boost impacts of marketing efforts.
Then, how do you like to engage with your audience and find things that will be interesting to them by making use of the data?
Be well-informed of the databases
The first and foremost step is to take account of the existing current condition and position of your database. Consider analyzing the present state to strike a practical and actionable marketing roadmap which will include both current to future marketing and overall business goals. Companies can make use of diverse marketing and data management platforms to store, analyze and deliver personalized customer experiences. Here we have compiled five most effective and all-encompassing marketing tools to implement data-first marketing strategies.
Customer Relationship Management System or commonly termed as CRM is the most commonly used customer data sources that store most of the customer data, revenue data, campaign and program data including new leads, lead scores, opportunities, new offers and customer renewals and many more. This data source platform offers the main interface wherein marketers and salespeople can collect, collaborate and use data they need related to new and existing accounts, individual contacts, new leads, use cases, sales calls, event participation, website visits, landing page visits and many customer behavioral and demographic data.
2. Marketing Systems
Marketing systems are available in wide ranges including email service provider (ESP) platforms, marketing automation platform, account-based marketing platforms, and various advertising and marketing technologies. These platforms are extremely useful in executing all types of marketing programs and campaigns with support for integrating with the existing CRM platforms, thus benefitting users with a 360-degree view of prospects and customers data as well as enabling them to monitor and measure marketing activities, email campaign engagement, customer engagement activities, website browsing activities, and other marketing performance data all from one place.
3. Data Warehouse or ERP Systems
The key advantages of using a data warehouse system is having a central storehouse or depository of customer data. These data sources include inputs and store customer data to the warehouse from multiple sources including financial applications, sales and marketing systems, purchasing tools, operations platforms etc. After storing, these platforms also assist users to systematize, dedupe and clean data to transform the data sets into usable and accurate form for marketers and sales persons. These data storehouses are exceptionally handy in identifying how prospects and customers are making purchases of products, services, and responding to offers and deals and all other pertinent data related to sales and conversions.
4. Marketing tech applications and tools
Most organizations are currently making use of a large variants of marketing technology tools to enhance their marketing processes and overall business operations and optimize customer experiences. Though marketing systems such as marketing automation suites act as primary tool for recording data and performing main marketing processes, these marketing technology tools enable users to integrate with the primary marketing systems to further improve and optimize marketing efforts such as social media marketing, account-based marketing (ABM), mobile marketing, website personalization, customer data enrichment, and many others. Martech tools help a great deal in augmenting the effectiveness of data-driven marketing efforts, building marketing technology stack, and manage several marketing systems by offering seamless integration with those systems as well as CRM platforms.
5. Business Intelligence (BI) and Reporting and Analytics Tools
If data warehouse platform comes in handy in storing and standardizing customer data from multiple data sources, these reporting and analytics tools and BI tools help marketers to format data in stipulated data pattern, visualize customer data and extracting customer insights. Whether marketers look for wider perspectives or minute details, these tools can significantly benefit users to view data in various readable and usable formats as well as dig out actionable intelligence. So, a paid marketing analyst can use these platforms to look through in different web and social media ad campaigns as well as email campaign specialist can dep dive in campaign performance data and get detailed breakdown of marketing attribution.
With all these tools and systems available, marketers need to build the right and performance-driven marketing blocks to achieve marketing success. The more tools and systems businesses may use, not necessarily will yield more powerful campaign success, but they need to evaluate the effectiveness, use and marketing budget to build the perfect stack of marketing tools that will serve the purposes data-first or data-driven marketing approaches.