Data-Driven Intelligence for Full-Funnel Marketing

Data has become perhaps the best driving force of modern-day businesses. In fact, it is perhaps the best time to be a part of a data company and witness the paradigm shift as it takes place. Back in 2008, 3 out of 10 companies considered a data-driven approach as the viable option. As of 2021, this number has increased to 7 out of 10. With the emergence of frontiers specifically designed to cater to the masses, marketers, and advertisers have started tapping into the intricacies of data. 

Insights, when extracted can give rise to accurate consumer profiles. These profiles, when taken into consideration can help dispatch ads that pinpoint the desired demographic and deliver upon the results required. Data-driven intelligent systems are spearheading a plethora of sectors these days. AI and its derivatives have become key attributes of nearly every company’s marketing strategy. Data-driven intelligence when coupled with strategies such as Omni channel advertising or full funnel marketing does wonders. 

But before we dive into the serene waters of data driven intelligence’s perks in the marketing world, let’s shift our focus to something bigger on the table here, Full funnel marketing.  

Full funnel marketing: The basics  

To put it simply, funnel marketing is a strategy that involves splitting the entire sales system into three or more sub-sections. The biggest numbers fall within the first step of the funnel, followed by smaller numbers in the next, and so on. Since the objective is to maximize on the profit margins while boost the number of customers, generating hype/awareness automatically takes the center stage. 

Stage 1: Awareness  

If you’re a data company, the resources deployed so far in search of the right insights shall help you apply the same to the marketing technique being discussed in full swing here. Let’s move toward the sections that make up a marketing funnel. So, imagine for a moment the structure of a funnel with a wide opening at the top and the narrow one at the bottom. Since every marketing strategy requires gathering the attention of as many people as possible for conversions, this marketing funnel shares the same line of thought at the first stage which is generating awareness. 

The awareness stage can be tackled with the deployment of pictorial or motion picture ads. The aim here is to establish the presence of a brand in the customer’s mind. And that’s not the only section of the demographic that is supposed to be targeted, the already existing customers are to be taken into account as well. Since a 60-70% chance favors your sale to an existing customer, this awareness stage shouldn’t be taken lightly.  

Stage 2: Consideration  

The next stage is the consideration stage where you provoke the customer’s thoughts on your brand’s product/service. This is where you get a little intimate with your approach toward brand-customer communications. Email campaigns, messages, and personalized dynamic content are what drive this stage. Hyper personalization is also a contributing factor here as it makes full use of AI based techniques and tools to read and understand the user’s behavior.  

If you crack the code to understand general customer behavior, the consideration stage is where the magic happens. Perhaps it is also the stage where you might get enough insight to create a fresh demographic from the existing one albeit a small one. This new demographic shall stand true to the precise attributes that define your ideal customers. Mapping them upon the universal set and finding out your custom audiences can help you re-run the next campaign efficiently. 

Stage 3: Conversion    

Perhaps the trickiest stage of the entire funnel, conversion is where all your marketing skills culminate to form the best deal for the customer. A good campaign and marketing effort shall eventually leave the customer with a binary choice for an answer. There’s no in-between here, its either a yes or a no with the focus being on making the customer say yes for obvious reasons. The challenge here is to provide the customer with an experience that transcends every tactic that you might’ve used before. 

With the margin being 5-20%, you can clearly see why it is tough to sell a product to a new customer than to sell the same to an old one as discussed above. Converting a potential lead to a customer is not an easy thing to pull off, but if you’ve played your cards right with effective redirecting methods the odds might just fall in your favor.  

Now, what’s in it for data-driven intelligence?    

Simply put, if the techniques mentioned above fall in line with the AI-based data-driven methodology here, the combination would yield efficient results. With data analysis at its core, the quality of data to be used for the project gets the paramount importance. This is where your zero and first-party data sources shall come into the picture with a noticeable impact. With the right data, the quality of insights obtained from the same can assist you target the right subset more accurately. 

Data-driven intelligence often gives room for automation and streamlining of processes. Marketing in the digital world now is a carefully created balancing act that stays in the middle of automation and technological prowess, and the deployment of creative messages at the right place, at the right time. The concepts of AI that drive the creation of identity graphs shall give rise to more accurate demographics being tracked and targeted.  

This in turn will not only increase the efficiency with which new customers can be taken into the loop but it’ll also work wonders for instances where the previous customers are to be wooed. Finding the right custom audiences and using their attributes to map another similar set on the bigger picture is actually the key here. The more like-minded (those sharing a profound interest in your product/service) people you get for your product, the better. 

And that’s about it                  

So, this is what the combination of data-driven intelligence and full-funnel marketing looks like. If you’re a marketer looking for the right guidance and tools to help you target the audience you need, look no further than Cubera for it is the go-to data company that’ll provide you with the insights you need. Its time for you to switch gears and get ahead of the competition.