In an increasingly competitive digital world and consumers who demand a personalized relationship with brands, optimizing your customer acquisition campaigns with precision has become necessary but no longer sufficient to guarantee a satisfactory return on investment in the long term. This is why need to know what is data marketing.
However, there is an optimization lever that is often seldom used by companies to improve their acquisition performance: data marketing.
How can Data Marketing increase your turnover?
Data marketing is generally used for personalization and loyalty purposes by improving customer knowledge and experience. The data sources used to fulfil this objective are varied: email database, CRM, navigation data, billing system data, loyalty cards or even online transactional data.
They are then aggregated, cleaned, enriched and then analyzed to define customer/prospect segments and to deploy relevant and personalized marketing actions according to the life cycle of each customer.
Here are some concrete examples of what data marketing can help you do:
- Identify and optimize all the points of contact in the customer journey.
- Identify the most profitable customer segments.
- Identify the breaking points (when we lose contact in the customer journey).
- Identify strategic products or services for the company.
These analyzes allow an advanced personalization of the customer relationship and lead to an improvement of many KPIs such as the conversion rate, the COS (Cost of Sales, or cost of sale), the customer lifetime value (i.e., the whole the turnover that will be achieved with a customer throughout their relationship with your brand) and finally, the turnover of the company.
How can your acquisition campaigns benefit from Data Marketing?
Let’s take three concrete examples where all the customer knowledge acquired with the data marketing strategy will be able to improve your acquisition campaigns.
1) Optimize your advertising investments towards the most profitable customer segments.
If the analysis of your data has determined that women aged 35 to 45 living in a city of fewer than 200,000 inhabitants spend on average 25% more than the other segments, you will be able to reuse this information in your campaigns. acquisition by increasing advertising investment on this specific target (and reducing investment on the least profitable targets). For the same invested budget, you should therefore see the number of conversions increase!
2) Identify the essential advertising terminals and platforms to convert your most profitable customers
Without data marketing, it can be difficult to identify the customer journey through the different terminals and platforms used which can be numerous and varied: click on a Facebook banner on a smartphone, consult a YouTube video on the home tablet, click on a Google search result on a laptop …
When your most profitable customer segments are identified, you can then accurately determine their cross-platform and multi-device journeys.
In-depth knowledge of this journey thanks to a data-driven marketing approach will make it possible to reallocate investments on the right media with full knowledge of the facts … and therefore improve your customer acquisition cost by eliminating non-essential terminals and platforms to attract and convert your most profitable customers!
3) Add dynamic personalization to your website
If the majority of your most profitable customers start by buying a product from the X range, you are going to be able to add dynamic personalization to your website that will allow you to highlight the category of products that your potential customer will be most likely to. buy first, and therefore greatly increase the chances of converting it!
Dynamic personalization can also be applied to marketing automation sequences and also to your banners to offer your customers an even more personalized experience.