Data-driven marketing refers to marketing strategies focused on information from the study of available customer data. These data can be gathered across different channels and touchpoints through customer interactions and engagements, helping to predict future customer behaviour. The approaches and initiatives are focused on recognizing the availability of information marketers and the data marketers have access to, as well as the data from predictive analytics or other sources. The goal of a data-driven marketing campaign is to enhance customer experience, increasing marketing ROI, and drive sales.
As customers are also aware that brands are also collecting data about them, they also expect a certain amount of understanding of their needs from brands. Data-driven marketing makes it possible for organizations and marketers to create campaigns that are tailored to target specific clients. This translates leads to a deeper understanding of the consumer profile, allowing brands to deliver highly customized messages to their consumers. Industry experts have found that targeted marketing campaigns powered by data led to higher ROI spent on marketing. The combination of target-specific custom ads with optimal delivery time will improve the campaign's effectiveness.
Industry report claims that marketers are spending billions per year on various channels to facilitate data-driven targeting solutions like data management platforms (DMPs) and demand-side platforms (DSPs). Yet many teams are not even able to optimize the full potential of these activated data.
A well-integrated database provides marketers with a wealth of information that they can sift through to determine accurate and actionable information about their customers and prospects. A data-driven approach helps marketers target specific groups of audiences with a product they want. It removes most of the risks involved in launching a new product, diminishing product failure rates. Armed with a better understanding of their target audiences through available data, marketers can help their brand offer better-suited products for their target audience.
By leveraging data to extend their reach across multiple networks, marketers can use their data-driven approach to distribute ads across channels. Ad agencies and marketers are leveraging algorithms and machine learning to remove the guesswork from media planning and buying. Ad spends, and marketing messages are now optimized to reach appropriate targets. It ensures consistent, aligned, and targeted marketing campaign that brings results. This, in turn, refines customer experience as it helps identify areas of improvement for marketers, and guarantees customer satisfaction.
Personalization leads to better customer experience. A Forbes article reported that 40 percent of US consumers say they have purchased something more expensive than they planned to because of personalized service.
The Special Issue on Data-Driven Marketing seeks to publish papers that leverage data-driven empirical approach to (i) derive effective solutions to business problems, or (ii) develop new methods associated with the integration of data and models in decision problems.
This special issue is devoted to research that examines these critical questions, as well as introducing innovative frameworks that improve the robustness of modeling outcomes to address any sub-themes of the central theme of this call for papers. We encourage paper presenters of the first "Rajagiri conference in Management" to submit their original research if it falls in any of the categories listed below. However, to encourage interdisciplinary research and attract high-quality papers, this call for papers is open to everyone.
Topics Covered Include
To be considered, papers should examine significant decision-making problems in any of the applications in under-studied business domain such as FinTech, healthcare, etc. The sub-themes may include —but not limited to — online advertising, consumer search, product recommendations, dynamic assortment and pricing, clinical trials, experimental design, website design, product ranking, and others.
- Consumer personality and Brand personality relationship in the new marketplace like App-based shopping,
- Buyer Brand Knowledge and their relationships with the brand
- Social Media and Brands
- Online Gaming
- Digital in-store advertisement and purchasing behaviour
- New technology-based products and Brand
- Technology based services operations in healthcare
- Technology and Flexibility
Editorial information
Dr. Aviral Kumar Tiwari
Associate Professor, Rajagiri Business School, Rajagiri Valley Campus, Kochi, India
Email: [email protected]
Prof. Ilan Alon, Ph.D.
Professor of Strategy and International Marketing, School and Business and Law, University of Agder, Kristiansand Area, Norway
Email: [email protected]
Dr. Ankit Kesharwani
Assistant Professor, Indian Institute of Foreign Trade, Delhi, India
Email: [email protected]
