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12 Practical Ways to Use Data Science in Marketing

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All thanks to the Internet, the world is now changing every day. The way we used to see marketing has taken a new shape. According to a recent survey, nearly 3 million data appear on a daily basis. Today, scientists, students, professionals, and many other individuals are using this new technology. As we all are well aware of fact that data scientists raw data to convert them into a meaningful one and so does today’s marketing field is doing by taking up the help of Data Science. 

12-Practical-Ways-to-Use-Data-Science-in-Marketing

With the help of data science and their expertise, the marketing sector is filling a huge gap in the audience today. With this strategy, it becomes somewhat easy for them to plan their execution for better conversion. In the past few years, data-driven tasks have become prominent and they are going to be the key ingredients in almost every sector. If you’re wondering why data science was required in marketing then let’s understand a few things first.

  • In almost every company, the investment goes in a good amount for a nourishing return, but what if they all are going in the wrong direction despite just getting visibility? Being noticed is not equal to getting good results. In fact, they need the right trigger at the right time.
  • If a company decides to launch any product, it can’t just go out there and start selling. It needs close monitoring of consumer behavior and then implements via predictive methods of data science to understand the need and forecast their trend.

The point is at this moment it’s all about data because better data will eventually lead you to a better business opportunity. The time is gone when businesses used to spend more on customer acquisition, today it’s all about targeting the right audience with accurate resources which can only be possible through data science.

We’re here to discuss 12 practical ways to use Data Science in Marketing.

1. Budget Constraint

The base of any organization is to set a limit threshold of their budget to control the ROI (Return of Investment). Now, when the budget is tight, it needs to be figured out how to get the maximum output and plan the strategies. So, to tackle such issues data science will give a clear picture for more clarity.

With the help of data science, any organization can plan its strategy, build the target model for customer acquisition, and will eventually provide fair ROI. Their model can help them in segregating territories as well which can be more helpful for them to target with a limited budget.

2. Audience Persona

The lack of accurate data is a huge problem today in almost every sector and this diverts the goals that any organization sets. With the help of data science and its aggressive tools, it is much easier to dig into more data with high accuracy. Data science can be helpful to identify the pain point of advertisement, the channel of communication with stats and figures which can save time and resources. Focusing on a budget constraint and reaching the right customer at right time through the right channel will definitely provide justified ROI.

3. Social Media Strategy

Today, within a second anything goes on air and becomes viral over the internet. Thanks to the internet and its users on a global level. Social media has changed drastically over a decade and has become the front face of any brand. To catch up with any trend and keep your marketing strategy on track, it becomes crucial to keep yourself updated and gather adequate stats and figures. With the help of data science, it becomes easy to analyze and track users’ behavior over any particular topic and this will build as a pillar for any organization to strategize its campaigns.

4. Selection of Right Channel

Data science has the capability to break down the desired data in as much micro-segment as possible. This becomes easy for the marketing team of any organization easy to execute its plan. With their tools, they can even pull out users’ reactions, channels, and activity timing using the time series model. This can be helpful for the marketing team to strategize and set goals to reach more audiences accordingly.

5. Content Strategy

Targeting and Holding customers are two different and most challenging tasks for any organization. Even if they reach their desired customers, the retention ratio faces heat. To tackle such scenarios, data science can play a very crucial role in filling those gaps. To segregate “what kind of content does your customer need”, “what should be the sentiment of your users”, and “how is it going to affect them” is the top three key questions to analyze users’ behavior.  

To hold and engage any customer, it is crucial for you as a brand to understand what stats can be pulled out with the help of technology to understand their perceptions about the brand and most importantly what actually attracts them. To figure out such a puzzle, the only thing that plays a major role is the DATA.  

6. Product Planning

The market is growing at a rapid pace and with the advancement of technology, it is taking all new shapes. To cope with this dynamic market and maintain the position, it becomes crucial to understand the depth of the market by following different marketing strategies. They can enable any brand to plan out techniques to collect more data that drives any customer. We’ve seen in the past that many good brands are now taking the survey first to understand customers’ needs before introducing any new product and all of this is possible only with Data Science.

7. Product Pricing

As we’ve said earlier there are two main components to maintaining the ROI, TARGETING the right audience and keeping a HOLD on your consumers. Pricing plays a major role in strategizing this field. With the help of data science, they pull out consumers’ behavioral data such as History, Purchase patterns, and Price Bracket. This enables marketing companies to plan out their pricing strategy to keep a hold on their users.

8. Loyalty

Any marketing idea would want to build their brand name just like a foundation and this leads them to build their loyal customer segment. They are adding value to your brand without putting effort and tend to be less expensive than diving a new customer for your product. Once you’ve built your brand strategy, it becomes very crucial to nurture them from time to time by offering them exciting offers. Usually, this drive is taken care of by data science experts who help in providing relevant data to target existing customers and repeat customers to enrich your brand’s loyalty.

9. Campaign’s Planning

Today companies are figuring out different methods of targeting their customers. The user’s behavior and way of approach to the campaign are being measured by data science with the help of data visualization. They pull data out on how and when their customers are engaging with the brand, either with email, SMS, or social media. These sights enable marketing teams to float data accordingly for a better hold.

10. Behavioral Interaction

When marketing teams host events and different campaigns for brand promotion. The number of users’ engagement over this and their approach towards that event or campaigns justify the success of that promotion. With the help of data science, they pull out every single piece of data related to those events and campaigns to make them successful and draw more attention.  

11. Customer Experience Enrichment

To get a better ROI and make your brand successful, it’s always a must to focus on customer experience and ways of keeping them more enriched. Many brands drive different campaigns and marketing mailers as a part of surveys to understand their user’s needs and to collect their feedback. Data science helps in fetching out such sensitive information to understand users’ behavior and their needs which enables them to enrich customers for a better experience. 

12. Promotional Offers

To get more user engagement and draw their attention, marketing teams host contests and different promotional offers via ad campaigns to measure the user’s interactivity. Data science here helps in fetching adequate data and measuring the success of that campaign. It also ensures whether that content has reached its potential customer or not, and “how many users have actively participated in that campaign?” all of these can be derived with the help of data science.

Conclusion

New marketing trends and an increasing level of competition have pushed all of us to think out of the box. Data Science not only helps the marketing team of any company to gather data for customer retention and re-engagement but also helps in lowering the budget for maximum ROI. Data is playing a major role in today’s market and those who have adequate data can sustain as long as they want in their respective field/industry. Data science has taken all new turns in the past few years and will become the main pillar of business.



Last Updated : 26 Apr, 2022
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