The two main marketing headlines of the decade: the rise of social media and the fall of mass media.
TV viewing and print media have steadily declined since 2000. According to Business Insider, TV viewing has dropped nearly 50 percent since 2002.
In the case of Internet and mobile technologies for interactive social networking, social media has accounted huge improvements since the outset of MySpace. According to Forbes, social media use among U.S. adults grew by up to 800 percent during the course of the last eight years.
The latest developments are good news for Internet marketers. The quick changeover from mass media to social media opens the opportunity to construct relevant, effective online marketing strategies. A social data-driven personalized marketing strategy not only is more successful, but it also is more scalable and cost-effective.
With that in mind, is personalized marketing better than traditional marketing?
Why Personalized Marketing Beats Traditional Marketing
The traditional marketing method covers a lot of aspects and areas using a limited number of tools, whereas personalized marketing uses programming techniques triggered by social signals.
For several years, traditional marketers have agreed to live with ridiculously low conversion rates for the placement and distribution of banner ads and email ads, with one template for sending messages to an immense target audience.
Traditional marketing usually needs substantial investment up front and large-scale placement and distribution, without assurance that marketers reach the most suitable customers.
In contrast, personalized marketing may be patterned or modeled from hundreds to hundreds of thousands of target audiences. Through a group of social media users, marketers can use social profiles and behavior data to tailor messages with higher significance, efficiency, and value.
How Personalized Marketing Works with Social Data
A personalized marketing campaign has three steps: data collection, data segmentation, and data conversion.
1. The initial step for data collection is to carry out a social login that requires a username and a password. It delivers a method for registration and sign-in to web properties using users’ existing social profiles. It allows businesses to gather and examine the relevant data points required to have a good grasp of customers.
2. Obtaining raw data does not accomplish anything for Internet marketers. The next step is to segment the data and deduce useful information out of it as part of personalized marketing. It includes data analysis to determine consumer behavior and identity in an attempt to create influential personalized marketing campaigns.
3. After the collection and segmentation of data, it has to be converted into insight to grasp its inner nature intuitively. It means connecting the data collected, segmented, and analyzed into the marketing platforms in use, such as advertising networks, CRM tools, email marketing platforms, and so on.
Marketers have put their faith on longstanding strategies and outdated technologies to draw the attention of customers and increase conversion rates. Even though horrible conversion rates have turned into the norm, today’s marketers have the right technology and insight to change their marketing drives.