NCET Biz Tips: Data-Driven Marketing
NCET helps you explore business and technology
By Rachel Grimm
Rachel Grimm
Rachel Grimm
In this day and age, data is everywhere, even when we are unaware of it. Because of this data, we have come to expect personalized coupons from our local grocery store and valuable content in our social media feeds. This personalization stems from data collected through countless touch points in our lives.
You may be thinking…Here comes someone else talking about the importance of data. That message is nothing new. You are probably swamped with data about how important data is. Why pay attention to this one? The answer is simple. Marketing without data is like driving with your eyes closed. It is very dangerous!
Data is big business for numerous industries. In many cases, the data collected is not only used to provide customers with better service or more relevant coupons, but can also be compiled into lists, which can be sold to other companies as third-party data.
However not all data is created equal and simply buying a list does not guarantee a more effective campaign. The challenge facing business owners is how to utilize data to be more effective, but this is easier said than done and it’s easy to throw away advertising dollars on a data-driven campaign with little result in the end. Finding a media partner who can translate that data into insights is the key to building an impactful data-driven marketing strategy.
For example, it is important to find a partner who can reach first-party data. It can reveal powerful insights. What does it mean? It’s in many cases, it’s household-viewing data – census-level data about what and how people watch television across every screen – which is always critical for marketers.
When you find a media partner that can offer this type of audience data you can understand how your marketing campaigns are performing, optimize them and make future campaigns more effective. And to take it a step further, insights can be strengthened when you overlay third-party data, like Epsilon, IHS Markit Polk data, comScore, and Nielsen.
The point is, first-party data combined with third-party data gives advertisers the greatest opportunity ever to target beyond age, gender and demographics, with better audience estimates and stability. It doesn’t matter if you’re running a small business around the corner, a regional company, or a multi-location national conglomerate. Across the board, data is the new demand.
OK, you get the point, enough about data. Learn more about identifying and targeting your top performing ZIP codes to eliminate waste, and about maximizing your internal customer data to build more efficient marketing strategies at NCET’s Biz Bite luncheon on June 26. NCET is a member-supported nonprofit organization that produces educational and networking events to help people explore business and technology. Register for the event and get more info at NCETbite.org.
Rachel Grimm is a Senior Advanced Advertising Manager at Spectrum Reach who is an advertising and marketing specialist partnering with regional and national accounts to develop digital strategies.
You can learn more about TV Audience Data Privacy with thisinformational white paper.