By Robert Jordan
Customized data-driven email marketing is gradually taking center stage in the marketing strategy of every organization. It has been helpful as this process of marketing resolves the dilemma of every marketer in targeting the right customer and making useful conversions.
With the expansion of digital marketing over the years, content marketing, search engine marketing, and social media marketing became a rage among marketers. Although this type of marketing proves helpful in attracting more number of potential buyers, it may not lead to useful conversions.
Most customers nowadays have many options to choose, so they take their time in selecting the preferred one as per their requirement. They might go for your competitor’s product, which is aligned with their taste and budget requirements. Such instances are giving popularity to data-driven marketing as it analyzes the right metrics to increase the conversion rate.
Before planning for this marketing, you have to first understand your marketing goals, how the data can be gathered from different sources for laying out a perfect plan in reaching the target. With almost more than a hundred emails reaching recipient’s inboxes every day, one has to find out creative ways in holding their attention. This will directly affect the click-through rate, open rate, etc. finally improving the conversion rate.
Data from many years has played a crucial role in making essential decisions for the organization. Financial data is analyzed by the accountants, investment professionals and other executives dealing with financial affairs, technical data is analyzed by the IT professionals; likewise, other industry data is analyzed by their experts for insights to drive the business growth.
The above process is even followed for sourcing and filtering the right data to facilitate a data-driven email marketing campaign.
In the marketing scenario, customer’s data is analyzed by the marketing experts for developing the right strategy in targeting the potential customer. For example, if you want to improve the retention rate, then you have to study the purchase frequency of your customer, the average spend in their purchase, products being sold, etc. In this way, you will understand the customer’s attitude towards your brand, what triggers them to purchase, how they can be motivated, etc.
Customized data-driven marketing can be planned after that to maintain the communication process with the customer. Better customer relationship will surely lead to an increase in retention rate. A brief discussion with the IT team, sales team, and other teams can also be carried out for making the approach a successful one.
Although data-driven marketing helps the marketer in their campaign, there are certain obstacles which organizations face while implementing this process:
But still, with all these obstacles, marketing driven by data is making its stronghold in leading organizations.
Find below steps for a better email marketing approach-
List segmentation includes:
- Customer’s email address
- At which marketing funnel stage a specific customer is in
- Customer’s likability for a product or service
- Job function
- Attendance for an event
As per a study by Optinmonster, it was found that after the segmentation, opens were 14.37% higher, clicks were 64.78% higher, unique opens were 10.22% higher, bounces were lesser by 0.90%, unsubscribe rate was 8.98% lower.
The data cleaning process is the next stage after the list segmentation. In this process, you need to clean up the list from:
- Outdated contacts
- Contacts which have lost its relevance
- Businesses which have moved out or entirely do not have an interest
The clean-up process might be a tedious task but is helpful in the longer run. Better open rate, click-through rate, and conversion rate can be seen after the successful completion of this process.
Email marketing is one of the revenue-oriented marketing forms driving good results for the organization. This marketing, along with proper analysis of data, can generate wonderful business results. As the market becomes more competitive and complex, the combination will become one of the effective ways of keeping subscribers engaged and interested.
Organizations should not ignore this trend and with useful insights plan an impactful data-driven marketing strategy. With the step-by-step approach, prospects will be interested in your emails, follow you up on social media, websites, and finally, get converted as your customers. This trend is slowly gaining popularity and will be implemented in many of the organizations.