It’s pretty clear that in the dynamic world of marketing, success today is driven by data. When we look at trends in the consumer retail industry especially, companies are beginning to up their digital game to keep up with their competitors. In other words, many traditional methods simply don’t cut it anymore. This is where data enablement steps in. Let’s dive into what exactly data enablement is and how it’s changing the way companies go about marketing.
What is Data Enablement?
Every ecommerce brand has the power to collect raw data with ease. But that’s not where it should stop. Data enablement covers the whole scope, extending beyond just data collection. It’s a practice that speaks to the transformation process of raw, idle data into actionable insights for all kinds of purposes — the most important one (in our opinion!) being marketing.
Role of Data Enablement in Marketing
- Customer Understanding: By making use of the data you’ve already collected, you’ll have a much easier time exploring deeper insights into your customer base. Picking your customers apart through data on demographics, behavior, preferences, and past purchases allows you to turn a clump of customers into various segments you can play around with.
- Personalization: One of the most significant trends in modern marketing is personalization — and data is at the center of it all. If you can use data to understand individual customers on a deeper level, you’ll have no trouble delivering content and recommendations that resonate perfectly with each customer.
- Optimizing Campaigns: Marketing campaigns can be quite expensive, so you’ve got to get the most bang for your buck. Letting data drive your decision-making for marketing campaigns allows you and your marketing team to get it right the first time. Data enablement helps you track and measure metrics that represent your campaign’s performance in real time. This means if any strategies aren’t working, you’ll be able to make the necessary changes ASAP.
- Predictive Analytics: People can’t predict the future. But to some extent, data can. Patterns that arise from raw data can be very telling of future trends and customer behavior. And part of data enablement is exactly this. It’ll allow you to build accurate predictive models and make decisions that ensure you stay ahead of the curve.
- Customer Journey Mapping: And finally, spotting where your customers are in their customer journey makes for better-informed retention efforts. Data enablement includes using data to map out the customer journey so that touchpoints and painpoints can both be identified before it’s too late.
How to Use Data Enablement
- Data Collection: Start by collecting raw data from anywhere you can, including your website, social media, email campaigns, and existing customer databases. Accessibility of your data in the first place is the first step toward unlocking data’s hidden potential.
- Data Integration: Integrate your raw data into a centralized database or customer relationship management (CRM) system. Before you can use it, you’ll need to clean and validate your data to make sure it’s reliable.
- Data Analysis: Use data analytics tools to extract insights from the collected data. Companies like Cotera are a big help here. We know and understand it can be difficult to not only pick apart trends and segments on your own, but to understand what to do with them after. We give you everything you need to make proper segments and optimized, personalized campaigns.
- Testing: Customer behaviors and trends are constantly changing. You can never rely on one strategy for too long. You’ll have to keep testing your campaigns and strategies to ensure they’re still relevant — but don’t worry, Cotera helps out with that too :)