In today’s highly technological world, it is vital to utilize the available analytical tools in marketing operations. Using Data Science, Computational Analysis, and Statistics, I would be able to achieve several optimizations resulting in higher sales, a more efficient business, and higher satisfaction from the customers. As a digital marketing analyst, I would focus these enhancements on four sections: outbound marketing, financing, product development, and customer experience overall.
Outbound Marketing
Unlike the traditional marketing strategies, which are usually diffused around a broad audience without considering the specific demographics, using advanced analytics allows a narrowing of the potential buyer profile. By analyzing consumers’ behavior and buying habits, I would be able to develop a rough profile of the demographic the company product appeals most to. Then, I would be able to advise the rest of the marketing team on the specific type of person that would be buying our product.
Furthermore, depending on the demographic on which the company should be focusing for maximizing the sales, analytics would help determine the best marketing strategy. Whether it be ads on YouTube, in newspapers, brand merchandise, or marketing through celebrities and sports events, I would help find the most efficient way to reach the target demographic. Therefore, the marketing would yield a more successful result, as fewer resources would be wasted.
Financing
Speaking of resources, using advanced analytics, I would optimize the funding and pricing of the company’s marketing team and products. Firstly, marketing teams are often allotted a relatively tight budget. Therefore, it is vital to use these resources efficiently and in a way that would yield the most results. By analyzing which strategies have worked in the past and conducting dynamic analysis of the existing and changing approach, I would be able to maximize the use of resources.
Additionally, I would be able to suggest adjustments to the prices of the products, which would benefit the increase of the sales overall. According to economic theories and practices, an equilibrium price would yield the most demand from the consumers. Therefore, it is essential to find it, and analyzing the habits of consumers and tracking their spending depending on the changing prices would help find the optimal price.
Product Development
Furthermore, apart from adapting the price to the optimal level of market demand, I would be able to understand what developments would need to be made in the product itself. By analyzing survey data and the popularity of certain products, including those of our competitors, I would determine the features of the product that are most appealing to the customers. Moreover, the analysis would help determine the product modifications that would allow expanding the demographic.
Customer Experience
Lastly, it is most vital to understand that consumer feedback should influence further actions of the marketing team. Using analytics to assess consumer feedback dynamically, I would be able to creatively change the strategy and the marketing media for the best results. Knowing when and what the consumers are buying, as well as maintaining their loyalty and interest through innovative designs and events, would boost the sales and guarantee recommendations of the company to new buyers. Since I would be combining the science of computational analytics with the art of creating, I would also be able to organize an efficient and cooperative team of professionals. Therefore, not only would the outgoing marketing strategies would be highly efficient, but the workplace itself.