The demand for speed and agility has always been significant when it comes to securing data. With COVID 19 creating speedy modifications in customer demands and behaviors, digital marketers have felt the pressure to get accustomed to this in a short period.
With the world steadily moving on from this unusual phase, some trends like an increase in remote working and an increased focus on health and fitness are anticipated to endure. Marketing professionals must continuously organize and stimulate their data promptly to understand who their audiences are, what they need, and how to reach out to them as events unfold.
According to a Mckinsey report, the US online fitness market has observed about a 50 % increase in its consumer base since February 2020; the demand for digital home-exercise devices has risen by 20 %.
Access to timely and sturdy insight is imperative for CMOs to keep pace with the ongoing evolution of consumer behavior. To accomplish this, CMOs must be able to initiate their data efficiently across various digital advertising marketplaces.
For businesses to prosper in a post-pandemic world, CMOs must have a grip on their data and develop strategies in 3 significant ways:
To speed up synchronization
While technological advancements are continually enhancing the efficiency of data on-boarding, synchronization, and activation, CMOs usually still have to wait for weeks before they can hit the granular user-profiles required to drive compelling digital advertising campaigns. However, onboarding information into digital marketplaces can be a needlessly tedious and expensive process, restricting brands from working with the speed to take benefit of market trends.
However, rapid segment synchronization that enables CMOs to access audiences in hours rather than days or weeks, is feasible. It is also likely to synchronize sections on demand rather than waiting for default time-frame windows. Brands should prioritize agility and flexibility in their data strategies if they want to keep up with customer behavior.
Read More: Smart CMO strategy going into 2021
To ramp up reporting
As well as having to wait weeks to access audience divisions, marketing professionals usually have to rely on monthly reporting to examine the impact of their efforts, meaning the data is often outdated long before they get it.
To improve speed and efficiency in the post-pandemic environment, brands must gauge performance in near-to real-time. Accessing same-day reporting enables them to understand what is working and what isn’t. It allows them to customize and optimize campaigns in-flight and adjust to future activities.
To boost data quality
Marketers face low data quality problems, with regular match rates rarely reaching 50% within the industry. Brands require substantial infrastructure to match IDs at scale and stimulate data across essential programmatic marketplaces and buying platforms.
Constraints around COVID 19 may be relaxing, but the consequences of the pandemic on consumer behavior will be felt for years to come. Hence, CMOs must respond immediately and rapidly to these changes as and when they happen.
If brands want to stay one step ahead in the ever-shifting environment they need vigorous data capabilities. This will provide an instantaneous gateway to appropriate audiences and same-day access to in-depth reporting that can be activated in a convenient and submissive manner.