With more data available than ever before, it’s hard for businesses to identify what they need to know, and how to use it effectively. We know that data is integral to the operations of any business and developments in data are now enabling companies to seek out new sources of competitive advantage and make intelligent decisions.

Data needs to be accurate, up-to-date and relevant – businesses need to extract meaningful insights that support their objectives, in much the same way oil is refined for specific purposes.

Data is growing.

A recent report ‘Data Never Sleeps’ estimates that by 2020, 1.7MB of data for every person on earth will be created every second.† This explosion in data has been driven by the internet, smart phones and social media growth. With so much data out there how do you utilise it in a meaningful way?

Mass-marketing has been overdone.

The practice of sending out communications to as many people as possible has been proven ineffective.

The ease with which email communications can be sent has seen a surge in volume that is rendering them ineffective as a marketing tool as people become overloaded, with even seemingly personal emails actually being a newsletter or sales communication in disguise. Many of the more junior marketers have only ever known email marketing and are often more process driven on getting emails sent than looking at the effectiveness.

Post GDPR and reduced budgets.

With so much data available profiling and targeting the people most likely to be interested in your product or service is not only possible but this can significantly reduce the spend required to reach the people who count.

The introduction of GDPR, has often seen consumer databases within companies reduced, whichever legal option (consent or legitimate interest) underpins the marketing activity. However it is still possible to utilise data to profile and target without using personally identifiable data.

Clever targeting for maximum results.

A survey by software provider Veritas revealed ‘92% of marketers think their organisation will benefit from better data’ and almost half, 45%, expect to reduce costs, increase revenue or market share, with better data management. The upshot being less is more – clever, intelligent use of the data available not sending communications to your entire database but selecting those for whom your communication is more relevant.

Where budgets are tight and with a limited sales team we have found using data intelligently it is possible to carefully target those areas with high indexing for a specific treatment or consumer type. This approach helps achieves a greater ROI.

You can read Ellie's full article here: https://www.precisionmarketinggroup.co.uk/harnessing-intelligent-data