Why Data-Driven Marketing Is The Next Big Thing
The average click through rates for display advertising is now at a disappointing 0.06%. And with the rise of social media and new technologies like ad blockers, more and more brands are finally embracing and shifting their investments to content marketing. More companies are realizing the need to become publishers to reach, engage and convert customers more effectively.
But according to this Harvard Business Review article, one thing many brands are missing out on to improve their content marketing success is data journalism. In the world of traditional media, data journalism is one of today’s hottest trends, and big publishers like The New York Times and The Guardian are investing heavily in this form of reporting because they recognize its storytelling potential.
Drawing on existing data sets and data analysis tools, data visualization offers content marketers opportunities to uncover new insights and to tell fascinating stories in a visually appealing and compelling way. And it is precisely this “X factor” that makes data-driven stories so effective on social media in capturing people’s attention and eyeballs.
But data visualization has largely been a missed opportunity for most companies as original data are often treated as top secret and used exclusively to drive business decisions internally only. But what if companies start opening their kimonos of data and offer some of that value back to customers through data-driven marketing?
What benefits can brands expect from data-driven storytelling? Let’s take a look at the top five reasons why your company should add data-driven content to your marketer’s toolkit today:
People love infographics, and that may explain why they are on average the most shared content type on social media. That’s why data visualizations which offer value to your readers are a great way to amplify your marketing messages and increase traffic to your site.
With so many individuals and brands publishing every day, this has led to an explosion of content online. So what can you do to compete with all this noise out there and stand out from the crowd? Sharing original, relevant and actionable insights and numbers is the way to go. And that is exactly what data-driven marketing is all about – producing fresh, insightful content that offers real value to people.
Analyzing and sharing data that has not been shared before establishes your brand as a thought leader and authority in your space. And by offering new insights on market trends or issues that are important to your customers, your brand ultimately becomes the go-to source they turn to for these given topics. Fresh data-driven content may also earn your company media coverage and interview requests, which further establishes your credibility and expertise in your industry.
- New Perspectives
Just as customers can learn something new from the data you share, you can also gain new insights and perspectives into your own data sets from the responses and analyses your readers share. When viewing with a fresh pair of eyes, people may uncover new trends and insights that you would never have thought of, which may provide more topics and ideas for your content marketing.
Today’s consumers are increasingly more concerned about how their personal information is being collected and used by companies. And data-driven content offers an opportunity for brands to help consumers understand how their data is used.
By collecting consumer data in a way that protects their privacy, and sharing fresh, original insights that are relevant to consumers, data-driven content is a great way to help brands build transparency and trust with consumers. Data-driven content also shows consumers that they receive just as much value from the information they give as the companies who receive it.
Here are two great examples of companies mentioned in the Harvard Business Review article that are using their own data to create original, compelling data-driven content. The first piece is from Jawbone, a lifestyle tracking wearable products company, who shares some rich, fascinating insights into the daily routines of its fitness tracker wearers, like when people wake up and go to sleep in different countries.
Here is another good one from Kickstarter – using its own data, the global crowdfunding platform showcases the number of projects that were funded successfully, dollars pledged for each project category, and the number of supporters and dollars pledged around the world.
What do you think? Have you seen any companies who are doing a great job at data-driven content marketing? If you haven’t already, will you be adding data-driven storytelling to your marketer’s toolbox? Please share your thoughts below!
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