Data-Driven Marketing Model

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Data-Driven Marketing Model

Journal Title: Маркетинг і цифрові технології - Year 2017, Vol 1, Issue 2

Abstract

The aim of the article is to search for a new marketing model based on application of data science and large data methods, which demonstrates it’s advantages in the digital economy. The results of the analysis. In marketing business processes, there is a huge amount of information that cannot be analyzed by marketers without the use of progressive methods of intelligent processing of large data masses. In view of this, the applied marketing models cannot be considered as most effective for the organization of marketing processes. The application of data science and data-driven models in management and economics today is an important trend in the development of modern marketing theory and in particular digital marketing. The article presents the historical classification of marketing models developed as a result of evolution: production, commodity, marketing, transactional (traditional marketing), relationships. Their features, as well as advantages and disadvantages are presented; The characteristics of information processes that accompany marketing models at different stages of evolution are presented. The use of a progressive model driven by data is substantiated, its advantages in the information society are considered. The requirements of the marketing model, guided by the data to the specialists, are presented. Considering the social-demographic features and models of buying and taking into account the purchase of products and the combination of segments with similar customers, the analyst can predict future activities of the buyer more precisely. This information is best used in a progressive, data-driven marketing model. Data-driven marketing uses information to initiate marketing actions that can then be better adapted to meet customer needs and desires. The goal is to better understand the behavior of customers and create a marketing strategy in this sense. To do this, the data is purposefully collected at all points of remote communication on the way to the client (for example, social networks, Internet store, corporate website) to formulate and optimize marketing activities. The challenge is to combine different information flows of clients that are going offline and offline. Large data analytics makes it easy to analyze, predict and optimize marketing activities, which provides significant benefits to data-driven marketing. All these tandem benefits lead to significant return on investment for marketers. The results of the comparison of the classical marketing model and the model of marketing, guided by data on the example of advertising support of the admission campaign of the Odessa National Polytechnic University in 2017 are presented. Conclusions and direction for further research. For marketers data are important tool for the decision making. This is important for analyzing and improving marketing effectiveness. Using a data-driven marketing model can significantly increase the return on investment in companies. Using data helps companies act flexibly and consistently optimize their marketing materials and online marketing campaigns. Marketers should regularly use the data to align their offers and products to the needs of their potential customers. On the example of organizing an entrance campaign of a university the benefits of using a model based on data are demonstrated: an increase in entrants who are enrolled in training compared to a traditional marketing model.

Authors and Affiliations

Svitlana Antoschuk, Olexander Fomin

Keywords

digital marketing. marketing model. artificial intellect. data science. large data.

EP ID EP249451
DOI 10.15276/mdt.1.2.2017.6
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