Today, data makes the world go round, and every business and corporation knows that. That’s especially true when it comes to marketing, as marketing teams can now access more data than ever. After all, countless people use smartphones, computers, and smart devices, which collect data.  

While marketing teams have always used data, they’ve never been able to access as much data as they can now. Each online interaction can offer invaluable information to marketing teams and algorithms. Naturally, this has changed the face of marketing and shaped the tactics that brands use to extend their reach. 

Everything from the content you see to the ads you get on social media and streaming services comes from the data you generate. While this may seem insecure, big businesses and corporations solely rely on secure data. Follow along as we explore how secure, insight-driven data has changed the face of marketing. 

Data Plays a Vital Role in Marketing

Social media data has done more for many modern brands than any other development in the past few decades. This powerful edge lets brands narrow their focus toward people who are more likely to respond well to their ads. Insight-driven data has changed the marketing playbook in many ways, including:

Targeted Ads

Today, seeing an advertisement appear shortly after you see a social media post or search for it is never surprising. The posts and videos you view generate data, which brands then use to their advantage. Instead of casting a wide net, brands can now target individual customers who are already interested in their products.

This saves brands time and money while improving their customer conversion rate. However, the downside is that this makes some potential customers feel uncomfortable. Whether you’re a marketing professional or you work in cybersecurity, you know how easy it is to use user data.  

Now, social media platforms let users alter their “ad preferences” in the settings menu. In doing so, you can avoid targeted ads. Even still, it’s hard to completely avoid personalized ads due to the vast wealth of online data about everyone with a smartphone. 

In-App Sales

Brands have always sought to direct potential customers to their stores and websites to boost sales. Today, many brands directly sell to customers through social media. For example, you may scroll through your Instagram stories, find an ad, and see a prompt to “buy here.”

That prompt only appears on your screen because the data shows that you are in their target audience. The lack of a buffer between customers and sellers increases the chance of “impulse buys.” This helps brands increase revenue without making huge marketing swings that result in no sales. 

Partnering with Influencers

Social media influencers are the new stars of today, and business owners know this better than anyone. They pay close attention to an influencer’s audience and market reach to decide whether partnering is a good idea. Brands often approach social media influencers with partnership deals for products that apply to their follower bases. 

They often pull data from a large portion of an influencer’s follower base. This lets them determine what type of products and services said influencer’s followers are interested in. Brands no longer have to rely on basic demographic numbers when they endorse influencers, as all the key information is there.

Now, brands use an influencer market directly to potential customers who are already primed to buy certain products. Granted, this does leave a bad taste in some of their followers’ mouths, as data sharing is polarizing. Even still, social media influencers are a huge part of the future of digital marketing. 

Gaining Competitive Intelligence

Modern brands don’t just use social media to learn about potential customers; they use it to learn about their competitors. This works in several ways, but it starts with analyzing their competitors’ social media profiles. This is an easy way to incorporate their successes into your existing data-driven strategies. 

By paying attention to their posts and impressions, you can see how their content affects their followers and customers. It’s important to look at your competitor’s conversion rate, then compare their strategies to yours. This requires a lot of humility, as realizing that another brand is doing something better can be difficult at first. 

In doing so, you can determine which of their strategies will best suit your brand’s marketing campaign. This is a great way to identify effective strategies, new trends, and how your brand is perceived. Competitive intelligence can help you boost your brand’s reputation if you use the data wisely.  

Product and Service Insights

Whether you offer a product or service, you must try your best to appeal to the widest range of customers. This is only possible if you use every tool at your disposal, including online data. Such data reflects the way that potential customers feel about and interact with certain brands. 

It can help you identify trends and untapped potential that customers hope to see emerge within a specific field. That gives brands the chance to tailor their products and services to the people who need them the most. A brand can update its products and services to deliver what its customers look for. 

This affects production and marketing in equal measures. It all comes down to integrating the data and trends you research and applying them in palatable ways. 

Data is the Key to Modern Marketing

Today, your online behavior largely dictates which type of advertisements you will see. Data affects not only your algorithm but also how modern brands market their products and services. Gone are the days of spending a fortune on dated advertising techniques and hoping something will stick.

Instead, the direct marketing approach will seemingly become more and more sophisticated with time. Social media data even affects the way that brands alter and create products and services. Neglecting such data is like leaving money on the table, and that’s why so many brands utilize it. 

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