Data-Driven Marketing Strategies

The Marketing Analytics Action Guide from Professors Raj Venkatesan and Paul Farris offers valuable practical advice on how to implement a data-driven marketing strategy.

Click on ‘Download this Resource’ above to read the Guide

Successful marketing depends on consistently make good decisions about which customers to target, the level of resources to be allocated to the new and existing customers, and nurturing selected customers to increase future profitability.

In theory, the availability of more data and better analytic tools, brought by the digital revolution, should make this process easier. In practice, many marketers are overwhelmed by the potential and lack clear strategies to realise the promise of data driven marketing.

The Marketing Analytics Action Guide, from two professors at the University of Virginia’s Darden School of Business, provides a clear step-by-step approach to leveraging big data and data analysis, enabling organizations to create their own analytics systems focused on customer behaviour and enabling marketing executives to:

• Turn data into actionable marketing to win and keep customers
• Use marketing analytics to understand what motivates customers to buy
• Get smarter about what all the data numbers are saying
• Use data analytics to optimize spending on each channel

Crucially, the Guide identifies the need to pay attention to customer ‘attitude’ as well as ‘behaviour’. Behaviour measures the past, whereas using data to understand attitudes is critical in formulating future relationship with customers.

Click on ‘Download this Resource’ above to read the Guide