Data Create a Competitive Advantage for Marketer
R
ecently,
marketing
has
the existing customers. Marketers can
significant
then collect even more data and, in
Marketers
the same way that businesses with a
nowadays rely mostly on data driven
large network effect do, marginalise
approaches. Data-driven approaches
your competitors. That whole process is
in marketing are the core of today's
called as customer-data capabilities.
marketing tactics, and they're a must if
There is another form of Data Strategies
you want to provide the personalised
called data enabled learning. It is
experience that customers want. What
much similar to the previous one where
does this mean for your company and
in the data acquisition is more likely to
how can you use it to your advantage?
be on digitally as more people uses it
Examine how it can assist your business
and eventually, a critical mass of
and how you might use it in your own
consumers
marketing.
shutting out competitors. There is a
Unfortunately, many people are still
virtuous
having difficulty with the data-driven
customers data, A virtuous cycle is a
approach. Many people ask us where
series of events that reinforce each
they may get useful information. Others
other
bemoan the lack of resources. They
resulting in positive outcomes.
undergone
a
transformation.
emerges,
circle
through
of
a
effectively
learning
feedback
from
loop,
have no idea how to access, analyse, or compare the data they have. Strategies of New Marketers: Many marketers now use data to gain an unbeatable competitive edge over competitors. The more data you have of the customers that will create an offer to make better products or services for them and that will help to
Both customer data capabilities and
acquire new customers as well as retain
data-enabled learning are required to
[6] issue 1 Analyzia Magazine
