Marketing relies on data science just as much as any other business operation. Without adequate information, teams are unable to develop impactful campaigns and monitor their performance.
By collecting customer data, organizations can launch data-driven promotions with customized content to attract shoppers and enhance their experience.
3 Strategies for Successful Data-Driven Promotions
Using data to develop targeted promotions gives marketing teams the resources and insights to create impactful campaigns. The top three tried and tested strategies for developing successful data-driven promotions include-
Crowdsourcing Data with Promotions
Customer data is needed to create effective promotions and there is no better source than the consumers themselves. By launching specialized promotions via social media, websites, and other digital platforms, businesses can engage customers and gather valuable information.
Many businesses find success in using interactive content to collect data, such as-
1. Personality Test
Personality quizzes usually consist of a series of questions that are not limited to a specific personality. Participants should be able to complete the test quickly and should be prompted to enter their email addresses to receive the results.
These interactions enable organizations to-
Create customer profiles
Develop actionable insights from the answers
Create a prompt that must be filled out upon completion (email, contact info, etc.)
This method not only engages the audience but also expands the company's email list and discovers customer preferences.
BuzzFeed offers some of the most popular online quizzes that often earn millions of views with an approximate 96% finish rate. This gives the company an incredible amount of data to better understand their audience and create relationships.
2. Pick-Your-Prize Giveaways
Another way to gain insight into customer preferences is by promoting a pick-your-prize giveaway that gives consumers an opportunity to win a variety of products. Applicants that are chosen must pick their preferred items and fill out a form where they define their favorite and least favorite product lines.
By monitoring the results of these giveaways, marketing teams can develop targeted campaigns based on-
The most popular items
Discounts for slow-moving product lines
The most effective sales channels
Management should be sure to continuously monitor these results as customer demand fluctuates, and promotions need updating.
Analyzing the Data
Crowdsourcing data should give sufficient evidence of the top sales channels, engaging content, and popular product lines. It can also pinpoint drawbacks within their processes that are inhibiting customer interactions.
For example, Zipcar UK ran interactive Facebook promotions for years until they discovered a significant number of consumers could not participate because they did not have an account. This persuaded them to launch a giveaway on their own website, which generated 717% more engagements than their social media campaigns.
Analyzing data reveals the performance of marketing efforts and missed opportunities. Businesses can discover-
The social media platforms that generate the most engagement
The promotions that gain the most exposure and drive traffic
The types of posts that are attracting the most customers
This data gives companies an overview of their strengths, weaknesses, and overall performance.
Using the Data to Create Customized Campaigns
Especially when creating specialized promotions, such as holiday campaigns, businesses need to evaluate data to utilize the most relevant information. This includes going over email lists, key performance indicators (KPIs), and customer interactions.
For example, email marketing teams should determine what type of content receives the most positive responses and what subject lines performed the best. This enables management to discover relationships between variables to detect patterns and enhance future promotions.
As one of the most used marketing approaches, businesses should aim to improve their email engagement. This not only entails personalizing content, but also finding the perfect balance between spamming customers and being forgotten.
According to the Data & Marketing Association, over 43% of consumers prefer receiving marketing emails on a weekly basis over any other frequency. Customers also prefer customized content. Aside from addressing the shopper by name, emails should only send relevant promotions.
Aside from transaction data, companies can provide a loyalty program to track customers' personal information, preferences, dislikes, and purchase histories. This enables marketers to send exclusive discounts to loyalty members based on their prior purchases.
It also enables businesses to run discounts on product lines with low turnover rates to boost sales and make room for more profitable items.
Data-driven promotions give organizations the ability to learn more about their customers, improve engagement, and boost sales. To start developing campaigns, businesses should-
1. Utilize interactive elements, such as quizzes and giveaways, to collect valuable customer data.
2. Invest time and resources into analyzing data to formulate actionable insights.
3. Create customized campaigns that are tailored to the shoppers' interests and preferences.
These practices help improve marketing strategies and enhance data-driven businesses.