iQuanti’s Aditya Saxena (VP, APAC) shares his views on the importance of the use of data analytics to drive higher ROI on marketing spends.
Determining the best marketing strategy/channel that drives a desired action (be it a form fill, call an executive, visit a store, etc.) by customers is vital for the growth of any business. Effective use of data to create attribution models that stitch together customer journeys, and customer targeting can drive higher ROI. Digital channels and advertising provide significant first-party data that can be powerful drivers of ROI, along with data providers who provide analytics and segments that have been built on multiple attributes of underlying customer behavior.
To maximize the lifetime value of a customer, rigorous data-analytics is a key method. Analytics allows firms to see the full picture that’s painted when all the data sources come together. Getting the right mix of personalization in marketing coupled with data could be a business’s current mantra for driving higher ROI.
Read this Economic Times CIO.com article to know more about how brands can use data analytics to get higher returns on their investments across various marketing channels and the extent of success marketers have achieved in being able to tap into this resource for growth.