In our latest edition of The Credera Brief video series, Vincent Yates, Chief Data Scientist and Partner at Credera, shares strategies for utilizing data to improve marketing messages and attract more customers.
Exploring the Secret to Amazing Marketing
Marketers are faced with the same core question: “How do I get more customers?”
One way to capture more customers is to spend more money relative to your competitors. The more money spent on marketing means more people are exposed to the product or service being promoted, which ultimately leads to more conversions. The trouble is, only the company with the deepest pockets stands a chance to win by spending more.
For the rest of us, acquiring more customers means examining how we can improve the message. Or in the words of Yates, “How do we send the right message, to the right person, at the right moment, on the right channel, with the right product and price?”
The answer? Data.
There are two natural ways to collect data:
Purchase third-party data
Collect our own data
The problem with third-party data is its lack of differentiation--meaning if you can buy it, so can everyone else. And if everyone else is buying it, the entire problem is again reduced to who can spend more.
By collecting your own proprietary data and layering it on top of third-party data, you create something unique, allowing you to better target your customers in a way that competitors cannot. Collecting, understanding, and leveraging your own data results leads to better efficiency and higher total conversions, all on a smaller budget.
The Credera Brief
At Credera, we believe the toughest business challenges are best solved by a team—a team who works together to share knowledge to accomplish their goals.
We created The Credera Brief series to distill the trends and ideas from Credera leaders and experts. These short-form videos will share different insights and perspectives across the topic spectrum from MarTech and innovation to strategy and technology.