How to scale personalization efforts with data-driven marketing

While “data-driven marketing” sounds like a commonplace tactic, it’s actually a relatively new way of structuring campaigns. Traditional marketing relied on assumption-based strategies to figure out what customers wanted. Now, new marketing technologies allow brands to make decisions based on real-time customer data. “More and more brands are innovating with data-driven marketing practices, trying to put data at the center of that marketing process,” said Silhol. “What this means is consolidating three types of data, one being first-party data—ttransactional data, CRM, and other digital assets that you may own as a company.

They’re merging this with second-party data from retailers such as Walmart or Amazon. Programmatic technologies are also expanding their reach with third-party data and open-source data.” “This data-driven marketing piece represents a very large piece of the untapped opportunities for brands, and it requires a lot of capabilities and innovation,” he added. According to Silhol, CPG companies often have a difficult time translating traditional consumer and market insights-based segmentation into addressable audiences due to a lack of a data-driven approach: “Often those companies end up arbitrarily targeting segments online and having this disconnect between what is available in terms of addressable audiences and their marketing segmentation.”