PM360 asked experts in data analytics in 2022 what areas are still causing marketers the biggest headaches and where the largest improvements are being made to make their jobs easier.
More specifically, we asked them:
- What are still the biggest data pain points that life sciences companies/marketers are struggling with? How can companies work to overcome these issues?
- What are the latest and biggest improvements in how data, analytics, and artificial intelligence/machine learning are making marketing more effective? What areas of marketing are most improved and what do marketers need to know to fully leverage these new opportunities/technologies?
- intelligence/machine learning are making marketing more effective? What areas of marketing are most improved and what do marketers need to know to fully leverage these new opportunities/technologies?
The biggest opportunities created through advances in data analytics are the dramatic new efficiencies in marketing personalization and automation. Data processing technology now allows us to granularly segment audiences, enabling marketers to personalize messaging specific to customer categories, and then follow up with intelligent, automated communication. The result is content most helpful to customer needs and wants, without coming across as annoying.
Computer-based processing is at a point in which tremendous levels of data can be attributed to individual users and analyzed to segment targets into categories based on their interests and customer journey. With categories in place, a business can consider each segment’s decision-making process to develop a personalized marketing workflow for each group.
After segmentation has been established, “personalized workflows” can be put to use by scheduling communication through marketing automation software. Each segment can receive a cadenced flow of messaging related to their interests and behavior. These personalized workflows lead to loyal, repeat customers who refer friends and family. Based on a recent study by New Epsilon, an estimated 80% of customers are more likely to make a purchase when brands offer personalized experiences.
First published in PM360, October 2022
Read the full article here
