This is content archived from our old website. Our new blog is Trendlines.

Why data driven insights trump guesswork every time

One of DIGIVIZER’s early clients was a new market entrant to the Australian market. A food company, it had been hugely successful in its native United States and had used the social web to drive its marketing and revenue growth there.

It was therefore natural for it to make assumptions, based on that earlier US experience,  about the market and customers for its product in this country, about who would buy, their reasons for doing so, and who these new consumers might be.

All proved wrong.

But it worked this out before spending money on misdirected marketing programmes, using DIGIVIZER’s social analytics technology to analyse the market, identify the profiles of those who would buy its products, and to identify the influencers on whom those consumers relied for advice, insights and guidance.

Those profiles turned out to be very different from their equivalents in the US. Because these new (and markedly different) insights were based on data, the company knew it could act with confidence, even though things felt wrong. It was a stark demonstration of the power of data, especially data from actual consumers, potential customers and influencers, and of the difference between a marketing assumption and something real and meaningful.

How did using these new data insights make a difference?

Entirely through social, the company went from market share of zero to over 60% of the Australian branded market segment in which it operates.

Management could see that this social marketing investment delivered a return 10 times greater than any other form of marketing.

The social web delivers these real-time insights every second, and these data points are being published by your customers, prospects, competitors, partners and those who influence them whether you tap them or not.

Now you can. What’s more, you can analyse the data, make decisions, and act quickly, on time, on point and on message – all using real data.

The social web changes the rules of marketing. Sure beats guesswork.

WP_20151215_001

Alan Smith: Alan is Head of Customer Engagement at DIGIVIZER.