Data-Driven Marketing Strategies to Watch in 2010

As we move further into the new year, a number of industry thought leaders are asking if the recent economic downturn marks the beginning of a “new normal.” Marketers have become very accustomed to the requirement of doing more with less.

After all, who hasn’t had their budget cut with zero change in revenue goals? But in 2010, do we need to also face the reality that the shifts in consumer priorities and spending that we’ve all experienced are not temporary?

An essay in the March 2009 issue of McKinsey Quarterly suggests that, “We are experiencing not merely another turn of the business cycle, but a restructuring of the economic order.”¹ Is the consumer focus on simplicity and spending less here to stay?

And if so, does this signal an opportunity for more sophisticated, data-driven marketers? Will a relentless focus on data to better understand consumer needs, attitudes, and behaviors in this tumultuous environment better prepare marketing organizations to not only survive, but also thrive?

The truth is, data on its own is nothing.

The power of data is in its translation into key insights within an integrated framework that balances data, technology, and creative. An integrated approach facilitates the delivery of tightly orchestrated campaigns that provide a consistent customer experience across all touch points with creative that connects and resonates with consumers.

Focusing on a “sweet spot” (whether it be data, creative, or multichannel delivery) all too often creates a “blind spot” hindering the development of an integrated, data-driven marketing strategy.

In 2010, data-driven marketing strategies will become the main source of a sustainable advantage. Marketers will be looking at data more broadly while considering the lens of the consumer in the “new normal.” By embracing a more integrated approach to strategy development, marketers will be able to establish the foundation for success. This means using data and customer insight to drive your efforts both internally and externally.

There are seven data-driven marketing strategies to watch in 2010:

Strategy #1: Move Customized Messaging Multichannel

Marketing organizations will begin expanding the use of consumer profiling and behavior modeling to trigger customized messaging across multiple channels.

Consider, for example, Best Buy’s use of customer personas to train in-store employees. When Best Buy’s training manual leaked over a year ago, many were disturbed by their method of customizing the sales experience based on customer profiles. Now, most tout it as the future of retail.²

Marketing Companies are also benefiting from call centers’ adoption of intelligent and in-context business process management (BPM) engines to guide customer service representatives on messaging when servicing a customer. These tools keep the customer service representative on message and aligned with the needs of the customer.

With many organizations shifting priorities to retaining customers and enhancing existing relationships, call center interaction is one area that cannot be overlooked.