2020 and 2021 have certainly been years to remember, with the workplace changes which occurred due to COVID-19 forever changing the working world. But when it comes to the world of data, what exactly has changed? By focusing on the top 4 data-driven marketing trends in 2023, we’ll reveal exactly what your business should currently be focusing on.
We already know that data is the future. Being estimated at $229 billion dollars in 2025, data is quickly becoming one of the largest industries around. But, that said, data isn’t the same as it was a year ago.
Due to changes in the workforce and the continual progression of technology, there are several new trends to look out for.
In this article, we’ll be touching on what data-driven marketing is, as well as detailing the biggest trends currently facing this industry. And if you’re looking for some more info about the topic, don’t forget to check out this article we’ve written about data-driven marketing with everything you need to know.
Let’s get into it.
What is Data-driven Marketing?
In the uncertain world of customer marketing, data is the one true north. Data allows marketers to make educated decisions based on statistical evidence, instead of just selecting and hoping things work out.
The data-driven marketing approach, in short, is the practice of adapting your marketing approaches based on what your customer data is telling you.
Is your data telling you that a certain user channel getting more clicks than others? Best focus directly on that and cultivate this further.
With data, you’ll never have to make hopefully guesses again. Instead, you can use data to directly market in a way that makes sense. Not only does this improve conversions, but you’ll also be increasing your sales, AOV, and eventually your customer lifetime value.
Data is an incredible source of knowledge for your business.
But how is this market changing? Let’s take a peek at the top 4 data-driven marketing trends of 2023.
Data-driven marketing trends in 2023
This year has seen four main trends develop:
- Even more user streams of ingression
- The importance of autonomy
- Further user segmentation
- Personalization is a key to winning and retaining customers
We’ll break these down one at a time.
1. User Channels
Every single day, more and more social media platforms are cropping up. Whereas heavyweights like Facebook and Twitter have been around for years, newfound forms of finding customers through platforms like TikTok have also risen to the scene.
We only see more platforms arise that can help us find new customers. However, as a business, you don’t want to spread your marketing efforts too thin. That’s where the power of data-driven marketing comes in.
By running data analysis with a platform like Verfacto, you’ll be able to see where your new users are entering from. The particular channel they use can reveal where your marketing efforts are paying off most. By using this information, you can then concentrate your marketing budget and efforts on platforms where you naturally gain more conversions.
By reallocating your marketing budget based on data analysis, you can gain more customers without having to spend more money.
2. Autonomy
Data analysts sitting down and collecting data from various sources before running calculations should be a faucet of the past. Considering that 80% of a data analyst’s time is spent collecting data, without using a data platform that autonomies the process, you’re wasting a lot of time.
Data management platforms can gather and collate data from millions of sources simultaneously, achieving what would take a person days in mere seconds. One of the biggest trends in data, and indeed in business in general, is the automation of tasks.
Why spend time working on something that computer software can do more accurately, faster?
3. User Segmentation
Not all customers are the same. In fact, even in a tiny user base, the general demographics you can find will be incredibly different. Due to this, advertising to your audience as a whole is a losing battle.
While some of your audience may love a marketing concept, others may find your campaign uninteresting, or they may think it doesn’t apply to them.
Due to this, user segmentation based on data has never been more relevant. Using a data management software like Verfacto, you’ll be able to categorize your users based on unique linking factors. No matter how strange it may seem, you’ll be able to find links that put users in similar groups.
From there, you can use behavioral targeting to specially launch campaigns for certain user segments. Due to this, you have a might higher chance that the group will enjoy a campaign, as it is designed for them.
User segmentation as a key data-driven marketing trend allows you to boost engagement and secure more sales.
Data-driven marketing trends reveal that personalization is key
The majority of online users want content that is directly personalized for them. We’ve become all-too-familiar with seeing advertisements based on our recent searches. This form of personalized marketing allows users to see content that directly corresponds to them.
One of the biggest data-driven marketing trends has been personalization within streams like email campaigns. Whereas emails had a relatively low engagement rate before, you can now significantly boost your engagement rates by personalizing emails for the user that will receive them.
For example, by sending through a small discount specifically for a product that a user added to cart but never checked out, you’ll be able to entice that user back to your site.
Using user segmentation as a base, personalization across all forms of data-driven marketing will make sure your customers see marketing efforts that they’re going to be interested in.
In 2023, no one wants generic. Make your marketing as personal as can be with the power of data.
Final Thoughts About Data-Driven Marketing Trends
2021 has been a year of rapid change, both to how the working world functions and to society as a whole. In lieu of this, the data industry has seen a radical shift in core trends. The key data-driven marketing trends to look out for stem back to personalization, user segmentation, automation, and specification on which channels you’re targeting.
By adopting and running with current data-driven marketing trends, you’ll be able to make the most of your customer data. In no time at all, by using services like Verfacto (which is currently offering a free tier of use!), you’ll be able to transform the way your business uses data.
Now that you know the best trends, why not take a look at our article about the benefits of data-driven marketing or even the biggest marketing automation trends for this year?!