Data Science and Marketing

Do you need a data scientist on your marketing team? 

If you don’t know the answer yet, this blog will explain briefly what the role encompasses and what benefits it brings to your marketing efforts.

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What is Data Science?

The truth is that marketing data assets have exceeded our ability to analyze them, and it’s hard to understand what drives the growth engine. Here, a data scientist becomes a game changer.

Unlike a data analyst, a data scientist uses machine learning, clustering, and regression analysis to predict the future and give answers to essential questions:

• How do your target audiences feel about your brand/organization?
• What competing alternatives does your target audience have?
• Who is most involved in your online community?

With these valuable insights, your marketing team can target individuals in a more personalized and cost-effective way and, of course, drive your KPIs.

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How does data science help your marketing team? 

Here are the most common applications of data science in marketing:

Real-time growth experimentation

• Data science can allow you to test your experiments and engage with the target audience immediately, not in retrospect or on an intermittent basis as before.

Channel optimization

• Take a look at where your greatest conversions are and choose channels to use to bring your brand to market. Data science can help you automate this process and ensure you get the highest ROI possible. 

Targeting and micro-segmentation

• Statistical data analysis will help your marketers deliver hyper-targeted, personalized messaging and offerings to smaller, highly-focused consumer groups.

 Persona development

• Data science will increase your marketing efficiency by providing you with a solid understanding of who your true target persona is, what channels they prefer, and what content they are likely to respond to.

Sentiment analysis

• Data science will allow you to collect data at scale to help you empathize with the target audience: monitor their reactions towards the information they receive and give you feedback on content and how people are engaging with your campaign.

Lead targeting and lead scoring

• Data science allows you to track the most significant lifetime value (LTV) customers and then create a model to rank and target leads by LTV or any other KPI that makes sense for your business. 

Real-time data insights

• Data science empowers marketers to improve their audience's experience by providing real-time data and further personalizing content.

So, data science has moved marketing from a creative domain to a scientific one, helping us leverage this data into actionable insight for a greater ROI.