The Importance Of Data-Driven Marketing

The Importance Of Data-Driven Marketing

Importance Of Data-Driven Marketing: Digitalization or stagnation as the beginning of an unstoppable decline. Perhaps this statement sounds very forceful, but there is increasing evidence that companies are heading towards a future where their presence on the Internet will be key to their long-term survival. And 2020 has only confirmed this trend, because the impact of the Coronavirus has further accelerated the transition towards the full integration of human activities with electronics.

According to the ‘CEO Outlook 2020:  Covid  19’ report  by  K PM G , 80% of company leaders say that  during the past year they accelerated their adaptation model to the digital environment due to the pandemic. A trend that was nothing more than a response to the behavior of many citizens during the months they had to be confined to their homes, because they began to dedicate more hours to the Internet and, at the same time, sought to carry out most of their transactions online. .

The Digitization Process Involves Investment In Data

In total, in 2020, in Spain the average Internet browsing time was 6 hours and 11 minutes. That is, more than a quarter of each citizen’s time. A strong argument to understand that market opportunities are increasingly in the digital segment and that Information and Communication Technologies (IT C) are already beginning to be the main protagonists of decision making in organizations.

Along these lines, IDC points out in its report ‘the path to a digital native society’ that in 2021, around 40% of European GDP is already digitalized. And he adds that the annual spending associated with digital transformation in Europe will grow at a rate of 18% (CAGR) in these 12 months. An effort that affects all companies, and is already led by sectors such as manufacturing, retail and energy.

For all these reasons, it is expected that in 2027 around three out of every four companies will be as digitally integrated as those native to this environment. A quick and  intense process in which  they will invest mainly in data , because it is estimated  that  50% of their technological spending  was already allocated in 2020  to taking advantage of this information for their own benefit.

The Keys To Why Data-Driven Marketing Is Changing The World

Precisely at ActionsDATA we are moved by data and everything that surrounds it. So we want to emphasize its transformative role and the change in perspective that companies will have to address when considering their marketing strategies.

In 2020, the global president of IDC, pointed out that the relevance of the data goes beyond its comparison with oil, and that it is actually more similar to “water.” “It is essential for life, but it needs to be accessible and clean,” he said. But where does its importance lie and why is its proper use already a differentiating factor in leading companies to success?

Let’s look at some of the reasons why data is already essential when considering new marketing strategies:

  • Data floods the network: It is estimated that there are currently about 4.7 billion Internet users. And each of them produces around 1.7 megabytes of information per second. Therefore, there is a lot of this content that companies can completely legally leverage for their benefit.
  • They allow us to better understand people and, especially, clients: The data, if correctly processed, help create complete profiles of Internet users and reflect their tastes, interests and consumption patterns. And as we head towards a world where experience increasingly makes the difference, companies can take advantage of them to personalize their services.
  • They are perfectly measurable: Technology has quickly understood the importance of data and tools have been created that are capable of analyzing it quickly and efficiently. Companies already have customized metrics options to take advantage of them, and resources such as Artificial Intelligence or machine learning are increasingly prepared to take advantage of them.
  • They favor the automation of processes: Precisely, the use of technology fits perfectly with the creation of automation systems that simplify the implementation of campaigns. It must be taken into account that there are times – as is the case with Big Data – in which it is impossible to analyze all the available data manually, so the use of specialized software can facilitate the management of advertising projects.
  • They speed up decision-making: In marketing it is important to be alert to detect what is wrong in a campaign. Along the way, there are many variables that can ruin everything, so relying on data to detect possible errors and make decisions is a good way to protect yourself from problems. Normally, analysis tools and programs will allow us to monitor our project in real time and will give us the necessary clues to correct anything that may be failing.

Pure Data Is Of Little Use, So It Must Be Worked On.

From all this it follows that, in their digital transition process, it will not only be necessary for companies to incorporate mechanisms to collect data. They must also invest in the processes that should allow them to monetize this ‘raw material’, through programs and applications that give them meaning and value according to their needs. And that is where  Artificial Intelligence  will play a key role in making the mountain of  Big Data more digestible and  opening the door to new  digital business avenues .

All of this, without forgetting the function that Data Centers fulfill and will continue to fulfill to gather all this information, maintain it properly and make it quickly accessible for use. In fact, they are also rapidly adapting to the new reality of their environment, to offer the best possible performance and experience their own evolution towards a future marked by hybrid and multi- cloud services.

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