Every growing business knows about data for marketing purposes. However, not many have caught onto marketing software. Such software allows marketers to manage campaigns more easily, boosts ideal customer identification, detect big trends early on, etc. Marketing software can indeed be a game-changer for your business.
However, with an overwhelming number of options available, it’s crucial to find one that not only aligns with your marketing goals but also enhances your team’s productivity.
So, in this article, we’ll cover everything you should know about marketing data and software. You will know what it is, how data is used, the various types of software, and the reasons a marketing business needs it.
How is Data Used in Marketing?
Nowadays, almost all business processes have become data-driven, including marketing, which experiences some of the best benefits from data.
Data is basically information collected from public and private sources about various different topics, like clients, the market, trends, other businesses, etc. In marketing, professionals use the data to identify ideal customers, craft compelling content, build more effective campaigns, and incorporate it into other processes they want to improve.
Fresh and accurate datasets allow marketers to stay on top of arising trends, fill the needs of the audience first, and create the most relevant day-to-day operations.
What Are Marketing Tools And Software?
Marketing tools and software are these types of solutions that assist marketing departments with different crucial marketing processes. This includes automated customer communications, collecting and organizing marketing data, and scheduling marketing campaign performance.
Statistics claim that the marketing automation software market is expected to be worth $11.46 billion in 2027, with an annual growth rate of 17.67%, which confirms its effectiveness and popularity.
Companies use marketing software for many different purposes: to cut out ineffective processes, carry out day-to-day activities with ease, schedule drops, and optimize content.
What Type of Data Points Are Used in Marketing Software
As already mentioned, data is all over the place and covers many different topics, but not all of them are useful in the marketing department, so let’s take a look at the data types that are used in marketing software:
Demographic Data. The most important data points for a marketer are the demographics, which include names, ages, contacts, locations, histories, and general skills.
Firmographic Data. This type of marketing data for targeting companies includes the following information about them: the name, location, industry type, number of employees, company revenue, and more.
Technographic Data. Data that speaks about the technological hold of prospects or companies.
Chronographic Data. The way an individual, company, or industry reacts to events that impact them is considered its chronographic data.
Intent Data. Data that measures a user’s web behavior, indicates a prospect’s intentions, and predicts their next step is included in intent data.
Quantitative Data. This data is nothing but numbers, like website clicks, event appearances, forms filled out, email open rates, click-through rates, etc.
Qualitative Data. Opposite to quantitative data, qualitative includes hard-to-scale data, including social media statistics, notes, questionnaires, and feedback.
Types of Marketing Software for Business Data
Now that we have discussed what type of data points are used in marketing software, let’s take a look at the different types of software out there. Even though marketing is just a small niche in business, it covers many topics.
#1: Lead Nurturing/Segmentation
These software are specifically designed to nurture lead campaigns, like sending out automated messages based on user engagement and behavior. Statistics have found that nurtured leads make 47% larger purchases than non-nurtured ones, which shows how important it is to have a system in place.
#2: Sales/CRM
This is an automation software that allows marketers to delegate sales; the CRM system organizes and monitors customer information.
#3: Email Marketing Automation
Email marketing automation is a software that integrates with existing email servers and is designed to control email campaigns and automatically send them out.
#4: Mobile Marketing Automation
Similar to email software, the mobile focuses on campaigns sent via text messages and push notifications.
#5: Analytics/Reporting
This software helps track and count analytics and reporting, such as open rates, clicks, customer acquisition costs, and user behaviors.
Key Reasons Why You Need to Start Using Marketing Software
Surveys have found that the biggest benefits of marketing automation include- saving time (74%), higher customer engagement (68%), more relevant and timely communications (58%), and an increase in business opportunities (58%). So here are great reasons to use marketing software.
Time effective
Basically, any software out there will be much more time-effective than a person doing the job manually. Moreover, there are many time-consuming processes in marketing, like filling out user behavior charts, that can be automated, leaving marketers with more time to spend on beneficial business processes.
Reduce staff and costs
As we have mentioned, marketing includes a lot of information that must be controlled and managed, meaning that it requires a large staff group, who all need to be paid. Meanwhile, with automated software, these staff can be reduced, leading to reduced costs spent on payments.
Increase revenue
Even though automated software can take a toll on revenue at first, in the long run, it will increase revenue. With software, there are no limitations, meaning more campaign messages get sent, quicker responses to customer reports, and more personalized messages, which all simulate revenue.
Better data collection
Automated software collects data much faster, without mistakes, and can store and organize it all in one place. Instant access to data in a single software is great for detecting changes over time, seeing any new rising trends, and making tough calculations for campaigns.
Final Note
When it comes to marketing software and data, the benefits are hard to count and ignore. A business that starts to use automated marketing will never go back to manual processes and will notice as their presence improves and they are able to reach new levels of customer.