5 Top Tips for Data-Driven Decisions
Driving better results for any business starts with harnessing important information through data-driven marketing. At WU Executive Academy, our MBA in Marketing and Sales connects the two dynamic and essential realms of marketing and sales to help students learn how to leverage unused business potential to attract customers through effective interactions.
This unused business potential often comes in the form of neglecting to implement data-driven marketing decisions, leaving various marketing teams guessing how to best attract potential customers. When using data, teams can gain an understanding of what their clientele are looking for, as well as how to provide it. Continue reading to learn more about how to go about making data-driven decisions following your MBA degree program.
Looking at all of the data coming in can be overwhelming, and your specific efforts may be clouded by an incomplete idea of who you are trying to target. By creating target personas—which may have particular occupations, desires, and personalities—you can better drive your efforts to reflect their needs. In our MBA program at WU Executive Academy, you will learn how to reach these customers through the right distribution channels, paving the way to higher conversion rates.
Now more than ever, customers are expecting more personalized experiences with businesses. Tailoring your marketing to certain demographics, purchase histories, online activities, and other information can help your customers feel prioritized and understood. After your business courses, you can use the data you have to personalize the interactions your customers have with your company. Whether suggesting products that are compatible with their purchase histories or offering them promotions that align with their interests, your ability to personalize their experience will help drive loyalty and sales.
MBA students at WU Executive Academy learn how to design marketing and sales strategies that delight their customers. When you begin your program, you can expect to dive into dashboards, cockpits, and metrics across marketing and sales activities, which allow for continuous improvement and the fine-tuning of initiatives.
Paid advertising is an important part of a data-driven strategy, requiring a certain degree of fine-tuning and information about the customer to effectively target them. You can use data to create useful ads that lead customers back to your products and services.
WU Executive Academy takes a truly international approach to education, with a global community of faculty and students and international residencies bringing together a diverse array of ideas and perspectives from different business cultures. This can assist you in staying up to date with industry trends, as you learn from experts in the field around the world.
Current trends include fractured customer journeys with more touchpoints, fading brand loyalty, and marketing automation. By staying in tune with these trends and many others, you will be able to use your data to implement cutting-edge strategies.
Retargeted ads are a way to get back in touch with customers that saw and liked your products and services, but may not have been ready to pull the trigger. Data-driven marketing is helpful here in figuring out who saw your offers, who is interested, and who should be retargeted and how.
There is no doubt that the current market is rapidly changing, creating a need for a deeper understanding of marketing data for optimal business performance. Not only will an MBA from WU Executive Academy boost your educational knowledge, but it will also provide you with expert support to help you advance professionally after graduation, with extensive career services, including CV checks, LinkedIn Tutorials, and access to the university’s executive search partners.
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