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This article talks about data driven branding strategies in 2021!
The branding strategies of this age has been characterized by data-driven model. Companies are opting for data rather than pure gut instinct. This data-driven branding depends on big data. Previously, data was gathered through feedback, opinions and filling out questionnaires. This resulted in the fundamental flaw found in research: People lie. Not only are these unreliable, they paint quite a different picture. Actions speak louder than words. And big data captures just that
What exactly is Big Data?
Big data consists of a colossal, increasing, and unstructured assortment of information that companies and customers produce on a everyday. The sheer volume of those knowledge are often unbelievably discouraging to brands; but, there square measure tools to assist businesses manage, analyze, and use this information.
Tips to use data (via Google Analytics)
Accumulate and integrate:
Having data does not mean you can use it however you want. Accumulating data and having parameters will result in using this data optimally. Integrating this data in your branding strategy will help it grow exponentially.
Unearth insights that matter
Using the data that you need from the data you receive is a monumental task. Any marketer or branding specialist worth his salt knows that only 20% of the data received is useful. And only 10% can be usable.
Turn data into action
Data-driven does not mean using all the data to make decisions. It also should not result in analysis-paralysis. Using the data to make reliable decisions will optimize your work.
Data-driven branding isn’t the future. Its the natural transition of branding. With the advent of virtual world, data can be used optimally. Using this model will do nothing short of skyrocketing your sales as well as understanding your target customers.
Thank you for reading and stay tuned for more articles from Up Studio!