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Customer Data Enrichment (CDE) is a process that enhances raw customer data with additional, pertinent details. Marketers use this strategy to gain a comprehensive understanding of their target customer audience, utilizing various data sources.
The power of AI in marketing has a transformative influence. It sharpens data interpretation, strengthens strategic alliances, and aids in evaluating campaign success. The adoption of AI can keep you one step ahead in this tech-savvy era. But getting the most out of AI means having data infrastructure and analytics at the ready.
In the world of marketing, data plays a critical role, serving as the backbone that steers our decisions and strategies. Over the years, data has evolved and expanded, redefining the marketing landscape. We now have access to almost impossibly large amounts of information, from demographic data to real-time user behavior, offering innumerable business opportunities.
In today’s digital age, data security is paramount. From hackers trying to turn personal information into profit to regulators applying new compliance and legal standards to how data is collected and used, every company on earth has a mandate to keep data safe and secure.
Deterministic and probabilistic data both serve essential roles in decision-making processes. Deterministic data provides definitive clarity, whereas probabilistic data manages ambiguity and uncertainty. The choice between the two depends on your unique situation and requirements.
With third-party data, you’re not simply guessing what your audience might like. Instead, you’re using real data from diverse sources to build a precise profile of your perfect customer. It’s similar to receiving a detailed map that directs you to your customers and their preferences.
It’s no surprise that new movers are a lucrative segment for many businesses. They’re known for spending money — and everyone is in competition to earn their dollars. So why not reach them as soon as they hit their new neighborhood, just as they’re forming their spending habits?
The matchback technique analyzes your untracked orders — regardless of the source — and, just like it sounds, matches them back to the data source you used to reach them. This allows you to allocate the conversion or sale to the correct digital marketing campaign source.
New mover lists are a hot commodity for marketers looking to acquire new customers and establish brand loyalty when consumers are in buying mode — the perfect environment to create new brand loyalties and high lifetime value relationships.
When properly planned, tracked and executed, data-driven marketing campaigns are an excellent learning source, providing valuable information for future campaigns. So, if you’re looking to use data to execute smarter campaigns, keep these five best practices in mind…
Without a LTV analysis, you risk expensive unintended consequences as you shift your marketing budget between various channels. By understanding — and trusting — your customer data, you can strategize accordingly based on accurate LTV and make more informed marketing decisions.
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