Brands should re-assess the data they use for their market strategy

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 14, 2020, 6:09 PM UTC

Instead of wading through a sea of data, marketers can start with the simplest dataset needed for an informed business decision.

Marketers need to leverage data and analytics effectively to stay up to with ever-changing customer preferences. They need to be able to make rapid decisions based on a holistic view of their customer’s experiences.

Brands need to expand their definition of data to include previously unquantifiable attributes like in-store visits and contact service conversations to understand customer behaviour. Incorporating and analysing these data points can help adapt to new market realities.

Marketers should also identify the moments when a customer starts looking into a product or service they want to buy. These moments should be analysed, A/B tested and optimised to reach out to the consumer in an effective manner.

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