Tag Archives: customer life-cycle

[Infographic] Use Data Science To Transform Your Digital Marketing Strategies

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People around the world create over one million terabytes of data every day. Each additional data point has the power to lead you towards finding your digital marketing success.

How do you channel these resources for your business?

Understanding Data Science

The disciplines of statistical mathematics, computer science, and business form the foundation of data science. Fused together, you can use this to enhance your knowledge of marketing. This will sophisticate your efforts and at the same time making the experience for your users more personal.

There are plenty of examples you can point out how data science impacts businesses. Netflix is a great case study. For instance, every time you binge watch or check out a show you’re interested in, you send your personal data to the company. Netflix cleverly designed their algorithm so they can send you show recommendations they know you will enjoy.

Everything you watch allows the algorithm to know you better, all through the art of data science. But how can you use this dimension of marketing to boost your business?

  • Analyze your customer’s journey for how they interact with products and advertisements
  • Effectively optimize search engines to suggest to them future purchases
  • Use smart segmentation to study the demographics and personality types of your users

These are a few of the techniques you can tool to your digital marketing strategy. Uncover hidden insights and elements of your business to reach a new level of success. Learn more now.

Thanks to the great people at CleverTap for this infographic.

[Infographic] The New Marketing Funnel

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[Infographic]-The-New-Marketing-Funnel-315Introduction by Kim Buenafe

The marketing funnel has evolved over the years. Recent advances in technology, increased access to information, emerging digital marketing tactics, and changing consumer behavior have all contributed to this marketing funnel makeover. The customer’s buying journey is now less linear and more complicated than what the old funnel suggests.

The Traditional Marketing Funnel and How it Works

Businesses have been using the marketing funnel to visualize and understand the consumer’s buying process from being a prospect to becoming a buying customer. The term was coined because of how it works – like a funnel. Awareness sits on the wide edge of the funnel where potential customers are drawn in through various campaigns and research. Engagement happens next, followed by discovery and then purchase. Retention takes place when a delighted customer makes a repeat purchase.

For years, marketers have used marketing strategies inspired by the traditional marketing funnel. They capture leads, make sales, and retain customers. The farther the cycle gets, the narrower it becomes. This traditional marketing funnel was all but a linear journey. Fast forward to today, this might not be the case anymore.

Out with the Old, In with the New

As businesses grow, so does the consumers. The digital age not only sparked changes in marketing practices and tactics; it also enabled consumers to gather the information they need and altered the way they interact with each other. Given this scenario, prospects and consumers can now appear at any stage. This paved the way for a new marketing funnel – one that looks quite different from how it once was.

But how does it differ aside from the way it looks?

The new marketing funnel isn’t even a funnel at all. It’s a looping hourglass where customers can enter and exit at any stage of the marketing process. This further extends the finish line to include other stages, like adoption, expansion, and advocacy, that help nurture prospects through an omnichannel experience that’s unique for each buyer.

Let’s take a look at how the new, lifecycle-based marketing funnel works.

Wrap Up

With the new marketing funnel, marketers can come up with better business strategies that propel growth. When done right, it can lead to efficient sales processes and increased business profit. Now, the goal doesn’t end at the point-of-sale with a customer. Rather, the goal is to touch on every stage of the customer life-cycle, from spreading brand awareness to coming up with a long-term brand advocacy – a strategy that spells brand success.

Thanks to our friends at Campaignmonitor.com for this educational infographic.

https://www.campaignmonitor.com/resources/infographics/the-new-marketing-funnel/

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