The term Data-Driven Marketing has become increasingly popular over the last decade as companies search for new marketing methods to innovate and stay ahead of the competition. Here’s a definition of the term we like from the Financial Times: ‘Data-driven marketing refers to the marketing insights and decisions that arise from the analysis of data about or from consumers.’
Data driven marketing is about getting to know your target market through the use of data and from that, making strategic marketing decisions. So it can only be done well if the data analysis is done properly. To ensure this process is done correctly, it is important to recruit the right staff – it is now being said that data analysis is the new social media marketing. At Bodhi we’re specialists at building data teams, if you’re having trouble sourcing the right staff, contact us.
Below we take a look at some Data-Driven Marketing examples where it is evident that the data analysis process has been done particularly well. To give you an idea of how it should be used, we’ve shown an example below for you to take a look at.
Example – Greenpal
The company ran an AdWords campaign with one ad targeting the entire metro Nashville area. The headline read “Local Lawn Pros in Nashville are a click away.”
Bryan Clayton, the founder and CEO at GreenPal, thought the performance of the ad was good, with a click-through rate of over one percent and conversion rate of over 10 percent on the Nashville landing page. “But we needed to improve on it. We thought, how can we make this more contextual and relevant to the viewer? So we researched census data, looking at the average income and home values throughout the Nashville area.”
Clayton and his team found that East Nashville, an up-and-coming neighborhood, was populated with a more price-sensitive demographic.
“So we segmented those zip codes and only ran a specific ad for them, with the headline ‘The Cheapest Lawn Mowing in Nashville. Lawn mowing from $20,’” says Clayton. “We then created a matching landing page. After running the ad for one month, on-page analytics proved the guess to be true. We saw over 200 percent lift in click-through rate and a 30 percent lift in on-page conversion.”
This is one great example of how the power of data analysis has been used to adjust and improve a marketing approach.