Skip to main content

Data: Brands, Marketing & Politics

India is gripped into the election fever as we gear up for our 2024 Loksabha elections. However, this article is not about politics or political parties. The whole idea of writing this article is different and crucial from the marketing perspective. Sounds interesting? Yes, indeed! 

Let's highlight one of the common elements that elections, political parties, and marketing people share, i.e., Data. It's intriguing how political parties use data in their election planning and execution, from candidate selection to analyzing past election results and understanding the area demographics to finalize the seat-sharing formulas with the coalition. At every stage, you will find decisions taken based on data. 

In today's digital world, data is the ultimate tool to keep your marketing arsenal up and to run. Irrespective of the business size, sale value, or geo reach, brands cannot survive without the right data insights. 

In my last 15 years as a marketing professional, I have seen a few organizations that make the best of their available data. However, moving ahead, brands cannot afford to make the same mistake. They should cover every inch and corner of their marketing playground to make the right decisions at the right time. 

So, what's the road ahead?

  1. Be patient with data: Unfortunately, many organizations are not ready to invest the required time in data exploration and have the habit of preferring an Instant Marketing Mix. However, with competition and decreasing customer interest span, brands cannot afford to make the same mistake now. 

  2. Build data-driven setup: Interestingly, many brands today lack a robust data-driven setup for numerous reasons, including budget constraints, traditional mindset, etc. However, moving ahead, they need to think of this setup as an essential element of business growth. 

  3. Identify key data points: When we think of data, it is a huge playground! However, we need to identify the key data pointers that can add value to the overall business growth. Traditionally, this skill set is missing in most of the organizations. However, with the changing business dynamics, the brands should figure out the key KPIs that make a difference to their business. 

  4. Hiring data professionals: Now, the most important thing to consider. Moving ahead, the brands must invest and hire the right resources to fulfill their data demands. No longer can brands sustain and survive without the data professionals to make the right business decisions and precise marketing messaging. 

It's high time brands take references from political parties to make the right data-driven decisions. Like political parties, if brands' decisions are data-driven, there is less possibility of brands committing marketing blunders. 

Please remember it does not matter how long you have existed in the market and who your customers are; if you fail to move along the market demands, you will lose the final battle.


Comments

Post a Comment

Popular posts from this blog

Four Ways to Create Social Media Engagement

Are you using your social media channels to create stable engagement opportunities for your customers? If no, you are definitely missing something big in your marketing efforts. I have often seen marketers giving more importance to short-term objectives than long-term goals. Ideally, any marketing activity should focus on creating long-term impact. And to create this long-term impact, you need to engage your customers consistently.  Today, I am going to write about five important ways that can be utilized to create stable engagement on social media platforms. 1) Be Creative with your Content: Content packaging and positioning is one of the important aspects of marketing efforts. Today, social media platforms have given ample opportunities for marketers to package their content in an attractive manner. Be it simple text, images or videos, marketers can take content liberty to reach out to their target audience. Your content creativity should not be limited to the p...
1 comment
Read more

Relevance and Influence: Balance is the Key

Relevance and influence are two important aspects of social media marketing. Which one of them is more important is very difficult question to answer. The key is to maintain balance between these two. However, it's not that easy. For me, the best way to attain this balance is to have content consistency. I would consider content as a magical lamp to solve social media challenges.  Marketers need to use content precisely to have a great mix of relevance and influence in their marketing strategy. This can be done by effective content syndication. Content syndication does not necessarily mean content repetition, it can be referred as sending consistent marketing message across all the platforms. The success of these two important elements is largely depend on the effective customer engagement, and again content comes in the picture.  Social media has provided marketers with ample sharing opportunities, however,  they need to be utilized properly. Sharing, for me, i...
3 comments
Read more

Four Tips for Enhanced Lead Generation

Be it traditional way or online way, lead generation process has always been close to the hearts of the marketers. With changing times and platforms, marketers have changed their attitude and strategies to initiate and stabilize effective lead generation process. From newspaper to radio and billboards to television, marketers have been playing with different ideas of lead generation. With social media, they have found a simple, yet powerful mechanism of lead generation. Compared to other traditional modes, the biggest advantage that social media offers is the reduced turn-around time for any response. This offers a win-win situation for both marketers and customers to get best out of their delivered efforts. The right place to decide any marketing strategy is at the other side of the table. Think like a marketer and act like a publisher. Let’s discuss some useful tips that can add value to the overall lead generation process. Talk about benefits:  As a marketer i...
4 comments
Read more