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Data-driven marketing techniques are quickly becoming a staple in most of today’s digital marketing campaigns. Each online marketing agency worth its salt is looking for effective ways of leveraging data-driven advertising in order to improve sales turnover and return on investment for their clients.
There are numerous advantages to data-driven marketing, and that is why everyone in the online marketing industry is clamouring for a bigger piece of the pie. These advantages include the fact that these techniques offer customized and personalized marketing experienced for the customer, which in turn lead to higher sales. In addition, data-driven methods of advertisement have a variety of applications, make use of numerous marketing communication channels, improve the product development process, and make the accurate segmentation of markets much easier.
All of these benefits, when successful implementation is carried out, work towards significantly improving the outcome of the advertisement campaign. However, successfully implementing these techniques is often a difficult task for most marketers and companies.
There are a few hurdles that the company needs to cross for implementation to be successful. These challenges include:
Problems with constituting the right team
For successful implementation of these novel techniques, your company will need the right combination of skills from the staff members. These individuals will need to have adequate experience and expertise in developing, maintaining and updating large databases of data. In addition, they need to be efficient in deriving relevant data from customer interaction. Other skills they will require include audience amplification as well as predictive analysis. Unfortunately, for most companies, finding these individuals with the right skills often proves difficult and expensive.
Lack of commitment
A common problem with companies seeking to implement these techniques is a clear lack of commitment to the process. The lack of commitment can be seen through the lens of lack of buy-in from the top management. It can also be seen when the marketers refuse to acclimatize themselves with the basic tools needed in data driven marketing. Even when this technique is included in the overall company strategy, the companies fail to commit wholeheartedly to the use of the techniques.
Failure to integrate data from the different sources
Companies also fail during the integration stages of strategy implementation. This means that the marketers have an uphill task trying to gather the data needed to create a holistic customer view. These companies do not have the required capability to collect and integrate all of the data from the different sources in order to create a unified picture of the target audience.
Departmental conflict of interest
Within the company, different departments will be collecting/acquiring different types of data from the target audience. The data each department collects will solely be based on their own interest, goals, and objectives. The problem comes in when there is a conflict of interest between the departments, and as such, the data collected by the separate entities makes it impossible to create a complete picture of the target audience.
In such companies, there lacks an oversight department or mechanism charged with integrating the data sets collected by each department. The result is inefficient data-driven marketing owing to the distinct conflict of interest between the department’s goals and objectives.
The list of challenges that companies face when trying to implement data-driven marketing techniques is quite long, and the above is just but a brief description of the most pertinent problems. In order to ensure that your company is not encumbered by these problems, it is important to hire an online marketing agency with reputable expertise in data-driven advertisement techniques and strategies.