Understanding the importance of data and communication strategy for your brand
Last week I did a video focusing on why brands should pay more attention to their 1st party data strategy combined with their communication strategy to achieve better results in their digital marketing campaigns, which you can find below.
So why the article?
In the article, I want to address few other things I missed in the video which I have experience recently to signify the importance of this in your digital marketing plan.
How does Sri Lankan brands using data now?
Well, truth is most of the local brands really don’t care or use the data they have on their brands from their marketing campaigns, CRM etc. The reason for this is still in Sri Lanka branding, visibility plays a bigger role as objectives compared to more measurable KPIs/Objectives such as ROI, Revenue etc. Due to this reason, most of the digital campaigns are less data focus as at now in local scenario.
Other main reason is lack of knowledge. Most of the brands do not have in-house knowledge on how to collect, manage and use their digital data which could be used for different purposes in order to improve their campaigns and get better results for the marketing dollar they are spending.
What’s the relationship between communication strategy & Digital Data?
Once you started collecting and segmenting and understanding the 1st party data as mentioned in the video brands will starts to understand lot more about their customers, prospects than they knew so far. For a eg a hotel could look at their collected 1st party data to understand,
- The behavior of the prospective customers who visit their brand assets (Eg website, social etc)
- Understand the market behavior, what kind of interest they have from different room types to excursions etc
- Understand the purchasing funnel for online booking – Gather insights on the people who didn’t make a purchase but who has shown interest in different levels in the purchase funnel
Okay, so we know these data, then what?
This is where your communication strategy comes in to play to optimize your campaigns! Let’s look at above example scenarios of data collecting
Understand the purchasing funnel for online booking – Gather insights on the people who didn’t make a purchase but who has shown interest in different levels in the purchase funnel
Once you know the behavior of your customer in purchasing funnel, you could tweak your communication strategy to address these segments separately than trying to push a standard communication message throughout your marketing collaterals. Following are few examples on how to tweak your communication according to the data segments which you have already identified,
- Run promo focused communication for the people who has dropped from last level of the purchasing funnel
- Run room specific offers depending on how much time each person has spend time on those segments by evaluating their interest
- Use these data segments to run cross platform remarketing campaigns while focusing on specific msging and artworks (platform specifics) to bring them back to funnel and eventually convert
How can we collect these data?
This data collection can happen via multiple platforms digitally depending on which platforms you are using to run your campaigns and track data. Following are few which is common to most of the brands,
- Google Analytics
- Google and Facebook pixels
Hope this can you a brief idea about the importance of using data+comms to improve your campaigns digtally. If you got any specific questions which needs help, you can use following form to get in touch with me.