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What is Data-Driven Marketing and How Does It Work?
What is it & How?
Marketing is the key to reaching leads and converting them into customers for your dealership. However, not all marketing is created equal. Many methods deliver little traction but cost you a great deal. Data-driven marketing, on the other hand, allows you to achieve critical goals, refine your outreach, qualify leads based on not just value but their position within the funnel, and encourage conversion of the most valuable leads.
WHAT IS DATA-DRIVEN MARKETING?
Most forms of marketing are based on guesswork. Data-driven marketing, on the other hand, is based on actual information you have gathered about leads. This includes basic things like their name and email address, but it also includes other data, such as:
- Their household income
- Their interests and pastimes
- Their pain points and challenges
- Their family size and makeup
- Their experience with Powersports equipment
All of this information can then be used to tailor and personalize the marketing collateral that you send to each lead.
WHY IS DATA-DRIVEN MARKETING IMPORTANT?
Why is it important that you base your marketing activities on accurate information about your audience? Simply put, they expect it. Today’s consumers expect the businesses they patronize to personalize marketing efforts.
Of course, there is also the fact that data-driven marketing is much more successful. Imagine sending the same postcard out to everyone in your database. You’d expect a pretty poor return on that investment, right? With data-driven marketing, it’s like you’re sending a personalized letter to each person on your email list based on their history, needs, desires, and goals. The return can be immense when done correctly.
THE KEY TO DATA-DRIVEN MARKETING
As you might imagine, the key to this type of marketing is, well, data. You need information from website visitors to flesh out the records in your database. That means you need to find ways to collect this information. You can start with something as simple as newsletter signup – that gets you their name and their email address.
From that point, you can build your efforts (and your picture of each lead) by using questionnaires, surveys, opt-in forms, lead magnets, and other collateral. Each one should give you additional information about your leads, allowing you to qualify them, rank them, and focus your efforts where they’ll yield the most results.
Ultimately, data-driven marketing is the key to success for Powersports dealerships. However, it does require dedication and intentional effort to succeed.
