By: Published under: Data Driven Marketing
The power of an effective marketing strategy cannot be understated. But creating a marketing plan, without a 
solid foundation built on data and information, can lead to lost time, lost resources and lost piece of mind. Collecting reliable data, analyzing it to examine trends and behaviors and building a marketing strategy around this information leads to more focused and successful marketing campaigns.
Data collection from consumers, and even from existing clients, is allowing businesses to fine tune their marketing strategies. By collecting the most relevant information possible, businesses are able to rapidly adjust and deploy their marketing strategies to meet the demands of their often changing marketspace and shifting consumer needs. By collecting this data from customers and potential customers, it allows companies to understand how their clients think and how to not just improve their marketing strategy, but often, how to improve their product.
Once data is collected, it must be analyzed in way that allows a business to take meaningful action. This is rarely an easy task; in fact, around forty-five percent of those in the marketing industry say that analysis of collected data is the most difficult part of marketing. Data can be as valuable or as useless as a business decides to make it. Time and money need to be invested in making sure the data collected is analyzed, examined and tested. Once definitive conclusions about the data are reached, a strategy for improvement can begin to take form.
Data drives marketing strategies. Without valid, relevant data collection and sound analysis, the time and effort spent on marketing could be an enormous waste. Even if marketing strategies seem to be working at the present, they could always be improved by data and analytics. When marketing strategies and products are improved using data driven analytics, businesses thrive.
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