You spent a good amount of sweat and resources to get your business running. Thanks to your hard work and dedication, you’re able to offer something new to the world. But the job doesn’t stop there. You need the world to know why your products or services deserve attention. That’s where marketing comes in.
Marketing is one of the core functions of business management, regardless of how big or small the operation is. It’s your way of communicating with your target audience. Marketing done right ensures that your sales funnel works at its optimum level.
When it comes to marketing in the age of social media and the Internet of Things (IoT), you can’t go wrong with going digital. It allows you access to a vast amount of data you can analyze. After data analysis, you’re free to use all the insights gleaned in such a way that serves your business goals.
In fact, more than 80% of marketers make decisions based on data. This level of confidence in data analytics shared by experts ought to inspire you to do the same.
The Role of Data Analytics in Marketing Campaigns
The process of data analytics entails collecting and interpreting data to provide your company with actionable insights into its existing marketing strategies. Data analytics fall under three main categories.
- Descriptive – This looks into data from previous campaigns to inform future marketing decisions.
- Predictive – This looks into data from previous campaigns that may shed light on how customers might respond to specific marketing strategies. The result is targeted messaging.
- Prescriptive – This aims to influence customer behavior via highly targeted campaigns based on data about customer interactions from all available sources.
Marketing analytics focuses on information from a variety of sources, including but not limited to internal customer data, social media interactions, keyword analysis, conversion events, product performance, and website tracking. Being on top of these data touchpoints allows you to utilize them more astutely. As a result, you execute marketing plans that forgo whimsy for accuracy.
Data analytics achieves the following:
- Positive customer experience
Customer experience refers to a customer’s journey with your brand. It begins when customers learn about what you offer and, ideally, ends with a favorable assessment of how well you delivered on your promise.
Data analytics helps you figure out which parts of the customer experience require tuning up so that they go through the entire sales funnel and be happy enough with their experience to do repeat business with you.
- Understanding of customer behavior
You cannot predict customer behavior without understanding it first. Data analytics helps you do just that. For example, you can pinpoint which of your social media posts garner the most likes and shares. With that insight, you can better calibrate your customer engagement strategy.
- Addressing customer expectations
Another benefit of data analytics is knowing your customers’ pain points. This makes you a more equipped problem solver, aligning your offer with customers’ wants and needs.
- Targeted personalization
According to marketing experts, personalization contributes to business profitability. Brands that nurture a more intimate relationship with customers are more likely to inspire loyalty. Here, data analytics is critical to unlocking that potential, given how it makes targeted personalization easy and natural.
- Creation of novel business strategies
It’s essential for businesses to consistently discover methods of keeping customers interested and engaged. Whether via new promotions or new product features, it pays to always provide your target market with something to be excited about. Data analytics helps you envision what those exciting business ventures could be.
- Campaign monitoring
The success of a marketing campaign does not solely rely on how it started on the drawing board. Just as important is how well you monitor your marketing campaigns. Data analytics allows you to change what doesn’t work, tweak what needs reinforcement, and ramp up what’s performing beyond your expectation.
- Demand forecasting
This is especially beneficial if you are experiencing cash flow bottlenecks or gearing up for expansion. Data analytics allows you to forecast demand accurately. You avoid overstocking inventory. Conversely, it helps you anticipate peak seasons. As a consequence, you manage company resources better.
The Benefits of SMS in Marketing Campaigns
While it’s one of the earliest modes of digital marketing, SMS marketing is far from losing its relevance. SMS for business remains one of the go-to digital marketing strategies out there. And that’s understandable, given its many benefits.
- Option for customers
SMS marketing allows customers to opt in or out of the program. That means you’re not overstepping any boundaries. And because you honor consent, rest assured that those who agree to receive your messages are open to hearing from you.
- Efficient delivery
The likelihood of opening an SMS marketing content or offer is higher than an email or a social media post. That’s because it’s typically shorter. Also, it’s less intrusive.
- Customer engagement
One of the main goals of any marketing effort is to engage or interact with a customer. Because SMS is a more personal messaging platform, that goal becomes easier to achieve. Whether you want the recipient to click the link to your website or use a voucher, chances are you’ll see a follow-through.
- Wide reach
Not everyone prefers the same social media platforms or checks their emails frequently. But a vast majority check their SMS inbox when they hear the notification. With a high open rate, SMS marketing ensures the recipients of your message pay attention to it. Plus, all phones come with SMS messaging, regardless of what demographic the owner belongs to.
- Compatibility with other marketing efforts
SMS marketing can be in tandem with other digital marketing efforts. For example, you can run a promotion on your website and use SMS to capture leads.
SMS marketing is accessible even to small businesses. It doesn’t require too much planning or investment.
How Data Analytics Can Improve SMS Marketing Campaigns
Like other digital marketing strategies, SMS marketing requires a strong anchor. That anchor happens to be data analytics. It’s data analytics that gives SMS marketing a sense of purpose and direction. You will not be shooting blanks to targets who cannot be bothered.
Here are the benefits of using data analytics for your SMS marketing efforts.
- Improved targeting and personalization
As mentioned, personalization scores better than sending generic marketing across the board. That’s because customers want to feel like you know them. And one sure way you’ll know them is if you look closely into customer data. Through data analytics, you can address your target audience accordingly.
- Better understanding of customer behavior
SMS marketing data analytics can help you pinpoint the hour of the day that’s highly suitable for a text promotion. It will also let you know which words are most effective for a particular campaign category. Then, you can use these insights to compose a message with a higher potential for consumers to open and read them.
- Optimization of campaigns based on performance data
Data analytics helps you sort out how a current campaign is doing. You will also be privy to insights from previous campaigns. These findings can then help you design an even more effective strategy for your subsequent SMS marketing efforts.
Successful SMS Marketing Campaign Using Data Analytics
There is no shortage of SMS marketing success stories that highlight the power of data analytics. Take a cue from the case of 4theCultr, a superstore for black-owned businesses. One of the brand’s missions is to connect with its target market on a more personal level. The company used SMS marketing in its first customer contact via an opt-in program.
Through data analytics, 4theCultr got to stay on top of customer behavior. The brand recognized which ones abandoned a cart and quickly sent personalized SMS notifications to remind them. The result was an 18% CTR with a 100% conversion rate.
Another brand that leveraged—and succeeded—in SMS marketing is Yesterday’s Books. California’s largest independent bookshop enabled text messaging on its landline, allowing its customers to text their book requests to that number. As a result, Yesterday’s Books could respond swiftly to orders as they came in.
These success stories indicate how personalized messaging via data analytics pairs well with SMS marketing. Using a unique platform to send a message that doesn’t sound generic works wonders.
Wrapping It Up
What separates a successful marketing campaign from a failure could be summed up by one question: how well did it maximize data? The efficiency of a sales funnel relies on data-driven decisions on how, when, and what to communicate to your target market. So, let data analytics serve as your anchor next time you plan to ramp up marketing efforts.
Moreover, expertly mix and match the digital marketing pathways you employ. Do not miss out on the benefits of SMS marketing. Not only is it budget-friendly, but it has a high chance of being read, too. Once your message has been read, you’ve done half the job. If that message packs power, expect sales to shoot up.