In the world of huge competition in the digital world, the marketing & data science combo can let you be one step ahead of hundreds of similar companies out there. This way, marketing activities can be better suited to target audiences worldwide which means both existing clients and customers-to-be that haven’t been gained, yet.
Data science for digital marketing can make the former more loyal, and the latter – more eager to give your brand a try. The cooperation between the two can be very fruitful, indeed, and there are some major examples of the ways they do coin the added value, increase ROI, or optimize key metrics.
Creating insights from data – using statistics, data analysis, computer science, and methods such as clustering, pattern recognition, and regression – is the data science’s thing that can improve the marketing activities’ effectiveness greatly. And it’s the accuracy of marketing analytics & data science that truly makes this combo a power couple.
In today’s world, there’s no place for guessing or the trial-and-error method used intentionally. Luckily, the risk associated with many market uncertainties can be reduced. What may save the day here is yet the data-driven decision-making process that brings tangible, measurable effects.
Table of contents:
1. Marketing & data science – a perfect match?
2. Data science and marketing – examples
3. Data science in digital marketing – key conclusions
Marketing & data science – a perfect match?
The digital marketing & data science team can be a very powerful combo. There are at least several areas that digital marketers, supported by data science specialists, empower or enhance, and the examples of this collaboration will be pointed out below. The bottom line is the potential of standing out of competitors and increasing the market share.
Data science can be called an „intersection between business expertise, programming and statistics”, while marketing may be boiled down to „activities a company undertakes to promote the buying or selling of a product or service”. Data science & marketing analytics let various cutting-edge companies match their advertising and marketing policies with the real target audience, and increase the traffic.
Marketing teams that make use of the expertise and experience of data scientists are much more powerful, skillful, and competent than „ordinary” or „old-fashioned” ones. But, actually, it’s hard to find a marketing team that doesn’t make use of business analytics or data collection, these days. End-users gain a lot, too, from data science and marketing cooperation. They simply get products and services that suit them better and enjoy a fuller customer experience.
But what exactly data science has to offer marketing specialists? In brief, they get a better understanding of who customers or target audiences are and what they need. Of course, to create a full picture, data from multiple sources need to be gathered and analyzed, and here’s where data science (and related big data, data mining, and machine learning), or even Artificial Intelligence and predictive analytics come into play.
Read: Machine Learning vs. Data Science: Similarities and Differences You Need to Know
Data science and marketing – examples
We don’t have to look far for many significant examples of the data science and digital marketing synergy – virtually all major organizations in the digital world want to tip the scales that way. First and foremost, it lets align digital marketing strategies with particular cases, eventually leading to business growth and sales increase.
These use cases cover:
- pattern recognition and anomaly detection
- Search Engine Optimization (SEO)
- marketing budget optimisation
- content and channel optimisation
- consumer profiling
- customer segmentation
- advanced lead scoring
- email marketing
- sentiment analysis
- behavioral analysis
- predictive analytics
- real-time analytics
- market basket analysis
- customer engagement understanding
- recommendation engines
In short, marketing enhanced with data science helps provide data analytics and valuable actionable insights for making better business decisions. Also, tailor-made marketing campaigns to make digital advertising highly effective can be created and customer engagement strategies – refined.
To achieve this goal, real-time raw data and collected marketing data, as well as an extensive customer base are all taken under scrutiny and analyzed for future reference. Existing customer behavior and the digital trace the target audience leaves are both great to accomplish this objective.
Some of the real-life examples or use cases of data science and digital marketing cooperation include Netflix recommendation system, Coca-Cola’s ads and product development, as well as EasyJet marketing campaign. Amazon and Walmart are also known for using this powerful combo for discovering purchasing patterns. In turn, increasing marketing efficiency is what Google and Facebook also wanted to achieve by applying it.
Here are two interesting videos on how data can be used in decision making:
- how Coca-Cola uses data science for better business decisions
- how Netflix uses data for recommendations
Data science in digital marketing – key conclusions
For average digital product users, data science in digital marketing may be quite incomprehensible or even something they are not aware of. While it may not make the headlines very often, it definitely is a very effective solution that influences ordinary people’s purchase decisions.
While users may not really acknowledge it, they leave a huge amount of data (e.g. search history, internet traffic, using social media channels) along their customer journey or online experience with a given brand. And this data is definitely something worth fighting for.
When these pieces of information are approached and analyzed well – and that is the task of the joined forces of data science and marketing analytics – they can be an invaluable source of truth. And they lead to effective actions, aligned to the particular customer segment.
An experienced data scientist can definitely make the digital business up and running because the marketing & data science combination offers huge possibilities for expansion and growth. Email marketing techniques or modern SEO tools are just a tip of an iceberg, and there’s much more in store. With marketing’s creativity and data science’s accuracy and strictness, it is a power couple, indeed.
If you, too, want to take advantage of the marketing & data science cooperation and make your company more efficient and more competitive, contact us now.