The concept of Data-Driven Marketing, which involves the use of relevant customer and event data for planning and executing marketing campaigns, has been touted as the future of Marketing, rightly so because it has proven to yield the most successful and cost-effective marketing campaign results, offering Advertisers better ROI and lower cost of customer acquisitions through its “customer-focused” approach. According to Invesp, businesses that employ data-driven personalized engagements deliver five to eight times the ROI on marketing spend, which is most likely why eMarketer in 2018, reported an increase in budget for data-driven marketing by over 40% of brands.
In recent times, the addressable market for Digital marketing in Africa has exponentially grown as consumers have adopted the use of various mobile and digital channels and touch points to carry out basic functions – interactions, entertainment, payment, purchase, education etc. These customers are therefore demanding more personalized experiences, and so it’s no surprise that almost 66% of marketers are personalizing their communications based on consumer data, according to Engagebay.
Digitization which is responsible for this shift in consumer behaviour presents an immense opportunity for Brands (Advertisers) to reach and engage consumers in a more direct and personal way. With better understanding of consumers, their interest and preferences, Brands can respond in ways that endear themselves to the consumers, build trust and loyalty thereby encouraging retention and preventing churn.
Competitive advantage in business today can be attributed to how much insight Brands can generate from their customer first party Data, and how it can be put to productive use in a privacy complaint manner. As a Mckinsey Report on the Age of Analytics puts it, “data is now a critical corporate asset.”
The advantages of data-driven marketing are limitless – better consumer experience, campaign optimisation, segmentation, personalisation, increased ROI, and lots more. A Forbes report on Data-Driven Marketing shows that companies who deploy data-driven marketing are six times more likely to remain profitable year-over-year.
In order to unlock these benefits, Terragon – one of Africa’s leading Data and Enterprise Software Platform has developed the “Data-Driven Marketing Roundtable Series”; with the aim of complementing the efforts of Marketers (Advertisers and Agencies) by exposing them to “data and insights-driven” solutions and technology tools with which they can not only “intelligently reach” their customers, but go a step further with calls to action – thereby enabling measurable outcomes for their marketing campaigns.
Speaking after the June edition of the Roundtable Series which was focused on “Beyond Clicks”, Terragon’s VP, Marketing Osarugue Awani, noted that the Roundtable series would enhance the growth and adoption of data-driven marketing among marketers (Brands and Agencies) across the continent.
She said: “We are proud to lead the charge on Data-Driven Marketing in Africa, in partnership with the regional arm of the Mobile Marketers Association (MMA). We had a very impressive turn out at the June edition and that is a testament to African Marketers’ need for the knowledge we are sharing on this platform. To make the sessions even more impactful we’ve invited renowned thought leaders and Industry experts from various verticals and other mature markets to share their experiences, opinions and real case studies – so that attendees leave each session with deep, practical knowledge on the subject matter.”
Terragon is the leading data aggregation and enrichment, consumer insights and activation platform that helps Brands gain a deeper understanding of African consumers in order to create and deliver better experiences that drive meaningful relationships. Terragon is also the only partner for the Facebook Conversions API in Africa and the first African Company to be verified by the CDP Institute.