How to use data analytics for smart marketing now and after COVID-19

Marketers all over the world are evaluating their marketing spend. Some have hit the pause button. Others are trying to figure out how to proceed. Many are wondering where to find their traditional audiences online.

Change is everywhere we look – not only in our daily lives but also in the way we search for and consume content. With change comes deep uncertainty, for both consumers and marketers, about the best way forward through the coronavirus pandemic and its aftermath.

Figuring out where to place your brand, how to support your customers, where to find them, and what to do to mitigate loss – these are all questions that proper data analysis can answer. From audience measurement insights and cross-platform analysis to spend optimisation and website analytics, these are some of the digital technologies helping marketers navigate onerous questions.

Importantly, 'change' must now be repositioned as 'opportunity'. In other words, take this chance to transform your business and be ready for what lies ahead. It's here that digital analytics can take the guesswork away from your efforts to adapt and replace uncertainty with certainty, and clear strategies. Here are some ways marketers can navigate through this pandemic and beyond, to build stronger customer relationships by understanding what resonates well with different audience segments.

Prioritise digital marketing maturity

If the shelving of existing projects leaves you with available bandwidth, use this as an opportunity to progress your digital marketing maturity. All too often, digital transformation projects lag behind other competing priorities, muffling a marketer's ability to gain competitive advantage by better understanding the full range of customer experiences.

Today we are ready with the strategy, innovation and resources to help you improve and accelerate this progression. Connecting online with offline data  is one way we can assist - by integrating multiple tools to allow for a more holistic view of your sales funnel, so you can understand the value of your online marketing activity on offline sales.

Develop appropriate pricing strategies

Be ready to revise your pricing strategy to reflect on your customer's situation as well as changes to their perception of value. We can help you actively prepare using machine learning capabilities to demonstrate the benefits and risks of providing pricing adjustments and promotional discounts that align with shifts in consumer habits. A true understanding of the impact of today's conditions will ensure your strategic pricing strategies foster consumer confidence in your brand.

Create informed interactions

Know how to pick up on changes to consumer buying behaviours and media consumption both now and after the pandemic. Recent data shows that consumers are hanging out on digital channels more so now than ever. Some, but not all consumers, will maintain these habits when the recovery period ends. Without leveraging the right technology, it's impossible to reach out to these audiences and predict what's next.

We are working with clients right now, using data analysis to gain visibility of their audiences. By understanding and anticipating the content their customers are consuming, marketers can regulate their media strategy accordingly.

Adjust your marketing mix

It's likely your marketing and media budget is under review. Using data and analytics to evaluate your media spend  will help you understand which marketing activities and channels hold the most value in the current environment and in the long term. Our clients are using our analytical services and expertise to measure the impact on sales of current events, work out how much to spend on advertising and where to spend it. In dealing with the new normal, it's vital to know how to optimise media spend to drive better business outcomes.

Project integrity and trust

Now, more than ever, it's essential to engage with customers from a position of empathy. With an in-depth knowledge of your customers' behavioural trends, you can reframe your interactions through the lens of COVID-19 and proactively take measures that support and meet their requirements. With data analysis, we can help you achieve relevant positive engagement and personalised connectivity to different types of audiences. Serving your customers appropriately during this crisis will go a long way towards building a lasting connection.

Our highly capable and scalable solutions can help businesses make faster, better decisions with short turnarounds. And while we can't be on-site with our clients, we long ago mastered the ability to solve challenges from a digital space.

As a cloud-computing service provider, we are working with marketers to demonstrate how successful analytics can provide specific, granular feedback in a continually changing environment. With the right insights, marketers can remain nimble, adapting their business roadmap to suit shifting conditions, monitoring traffic performance and understanding their users' behaviour online.

Perhaps the most potent application of data analytics during COVID-19 will be to help marketers make the shift to digital and navigate a path well beyond these difficult times. We're here to help our customers accelerate this digital transformation and growth in 2020 and beyond. To find out how we can benefit your business, contact us through Equifax Marketing Services or via our Datalicious contact form

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