Marketing is one of the most important parts in using data, delivering a direct impact to the company’s bottom line that is hard to achieve by other means. Therefore, when it comes to data, your marketing should drive the data that you produce in the first place. This is why you don’t just need a marketing strategy, or a data strategy.
You Need a Marketing Data Strategy
A marketing data strategy is a strategy for acquiring, managing, enriching and using data for marketing. If you want to use data for your marketing in the best possible way, you have to think about how you can get hold of the data you need, how you can make it as useful as possible, and how you can use your marketing efforts themselves to generate even more useful data.
We at Nordic Morning can help you create a marketing data strategy and execute on it. We will start by looking at your goals and setting the right approach. Here we will outline:
• What are your goals & success criteria?
• Do you want to have new customers, or to nurture the existing ones?
• What is your conversion funnel?
Then it is important to map out which data is needed in order to measure success. You need to determine how much you will rely on first, second and third-party data. Then you need to have the correct success events setup in your first-party data to capture the things you want your customers to do.
When you have your data in place, there will be an ongoing process to monitor and audit your data channels. To have control over all the data sets, a proper documentation is needed.
Data Management Platform
To bring true power to your data, it’s important to set IDs on your audience. For those who have the luxury of many logged-in customers, the task will be much easier. But we can help you with strategies to extend the IDs’ range into other data-sets. Now there are technical ways of doing this, such as cookie-matching with Data Management Platform. This can work well if you’re using multiple digital touch-points like web and mobile. We at Nordic Morning are working with some of the most well-known DMPs on the market.