What is data driven marketing?
Data driven marketing is a strategic marketing approach that empowers marketers to decide which actions to take based on facts (data), not assumptions. Data can be collected from software systems already in use at companies, for example a CRM (customer relationship management system) and marketing automation system. Free Google tools such as Google Analytics and Google Tag Manager are also critical. Companies often have lots of data on their target audience and how they like to engage with the company, from which they can make informed marketing decisions.
Why is data driven life science marketing important?
Data driven marketing removes subjectivity from the marketing strategy process. Rather than making decisions based on the loudest voice or opinion, marketers can use data and quantifiable evidence to inform action.
What is a data driven marketing approach?
An example of a data driven marketing approach is the transparent and privacy-driven collection of first-party data. By using data, it is possible to prove the impact of your marketing efforts and report them with more credibility.
What is first party data?
First-party data is information you collect directly via interactions with your business and your marketing. For example, data collected from a form fill on your website or the downloading and registration on your app. Once you have this data you can use it to analyze who your target audience is, what they like to receive from you