Copywriter: Lee Bratton, Senior Account Manager, YouCom Direct
Love your data and it will reward your brand. In such a competitive global economy, data marketing is necessary for every organisation. For local search advertising, the data brands have about their customers enable better keywords and rich content for improved Google results. Data marketing can be split into two parts. Historical data and predictive data. Historical data most companies have (even if they don’t collect it very well). It will include the name and contact details but also buying recency, frequency, monetary value (RFM); interests and other transactional data. Predictive data will look at customer geo-demographics, lifestyle, propensity to respond to different offer types etc.
But brands can’t just gather data for the sake of it. Companies must learn to ask the right questions. Agencies will generally help marketing managers define the information they need because they work on many different brands all wanting to increase market share from brand marketing or performance marketing. Here are some examples of ‘brands’ that know the data they need to meet their goal.
MI5 will be using sophisticated computer programs to analyse social media feeds, CCTV cameras (where other systems interact like number plate recognition software), Oyster card data and many more, that will help their goal to keep us safe from terrorists.
Tesco pioneered the use of supermarket data marketing as we know it today with the first widely applied loyalty card. They know what you buy, what time of day (or night) you buy, how frequently you buy, what promotions are successful for you and how your eyes look around a store. They can then combine this with social media groupings to alter buying behaviour. As consumers we are all happy to participate because stores like Boots give us good rewards. But woe betide you buy hair loss gel for a friend, because you’re going to receive a lot of hair loss promotions over the next six months!
Social Media sites like Facebook will have similar face recognition software to the security services and are (as you read this) even now analysing your photos to find you ‘friends’, people who look similar to your family and friends which may make you click to connect with. They also use contextual data targeting. Announce to your friends you are getting engaged and advertisers searching to advertise wedding services will suddenly have you added to their list of targets to receive their advert. Now you are bombarded with wedding photographer adverts (or pre-nuptial solicitor services for the more cynical).
It means ‘they’ really do know everything. If the data is used for performance marketing, which YouCom Direct specialise in, then the data will help generate better keywords and rich content to ensure directory listings appear for the most relevant searches in a certain store radius. This will also mean competitor search results are pushed down the page and often to page two, so it has an added bonus. Targeted copywriting in directories increases calls, click-through-rates (CTR) and improves conversion rates from call to sale and from click to sale (the latter being notoriously poor). To learn more about how data marketing could work for you, email us below.
Follow the YouCom Direct news posts to see the next developments.
Glossary: CTR – Click-through-rate RFM – Recency Frequency Monetary Value
Required reference: YouCom Direct News Article, Nov 2019, London, ‘Data Marketing’.