Even with the omnipresence of big data, most marketers don’t think they’re effectively turning data and intelligence into action. Learn how to improve your response to real-time insights
Many marketers are adapting to and embracing data-driven marketing. While they may understand the importance of data and the opportunities it presents — like connecting with customers in real-time, making better business decisions, and utilizing predictive analytics — only a small portion of marketers are actually using data to its full advantage.
According to a recent report from the CMO Council, just 3% of marketers think they’re effectively turning data and intelligence into action. The majority — 72% — say it takes them too long to act on the insights they’re collecting.
How can you turn all those data points into action? Here are five ways to shorten the path from data collection to marketing action.
1. Stay adaptable
Access to real-time data will do nothing for your business unless it can also act in real-time. Because the way you act will change based on moment-to-moment information, real-time businesses must always be ready to adapt to what’s coming. When customers change their behavior, or when they’ve taken a step that indicates they’re ready to convert, you must be ready in that moment.
Today’s audiences are largely mobile. They’re interacting with their favorite brands in ways that are more personal than ever before. They see ads and make purchases from their own handheld devices. Keep this in mind when creating your real-time response strategy and make sure you’re ready for mobile interactions.
2. Know who you’re targeting
Even though real-time marketing requires you to adapt to what’s happening in the moment, you still must have a solid plan in place to reach the right people. First, identify your target audience and limit the data you’re using at a given time to that group. What method will you use to send your message as soon as you receive the trigger? What motivates this group to buy? Are you targeting their preferences?
Another important part of your plan is understanding the purpose of each campaign and the desired outcome. When you know your audience’s motivations alongside your goals, you can send more relevant messages and pivot in the moment to reach them.
Nailing down these details will ensure that you’re monitoring the right data and targeting the right people.
3. Leverage business intelligence
Business intelligence (BI) allows you to gather and analyze data using automation tools and techniques — it’s essentially the structure of your data systems. With the latest technologies that improve the way data is collected, stored, and evaluated, you can leverage BI for predictive analytics, which in turn tells you how a customer is likely to behave. Utilizing BI helps you make decisions based on facts and translate lots of data into insights you can understand and incorporate into processes.
With BI, you can more quickly analyze data and make real-time decisions based on it. You’ll have a more comprehensive view of your business and marketing efforts but also of the proven ways to connect with customers and leads.
4. Incorporate identity resolution
Identity resolution is a tool used by many marketers that helps you see the person behind the insight. Connect users across channels to better understand the way they behave and their top priorities. Track them across avenues like email, mobile device, cookie, and device ID, among others.
Utilizing this technique gives you a unified view of your customers that considers their different preferences and behaviors. With identity resolution, you receive real-time signals that help identify customers and more effectively send them personalized messages.
5. Use the right data
These efforts won’t get you very far unless you have the right customer data driving your real-time marketing strategy. You must be sure that you’re getting clean, high-quality, and up-to-date data so your messages remain relevant.
The data solutions from BDEX give you the power to take action with real-time insights, and you can rest assured that you’re accessing quality data. Omnisource IQ is our Data as a Service tool that instantly connects you with shoppers who are ready to buy. This subscription-based solution draws real-time data from more than 70 sources.
The BDEX Identity Graph allows you to track consumers across their channels so you know who you’re targeting. You can send more relevant messages to the right people when you can identify them using real-time data signals. BDEX has over 800 million email MD5-MAID-IP matches to enable these connections.
The BDEX Data Exchange Platform (DXP) has over 1 trillion data signals and over 5,500 data categories delivering more data than any other platform. We ensure you get the right data, so you’re making the best decisions with your marketing tactics.
Contact BDEX to learn more about how our data solutions connect you to the right consumers in real-time.