As you know, we’re passionate about data and how it can make the marketing of your brand smarter and more impactful.
But there’s a lot more to data and how to use it than immediately meets the eye. After all, in the internet age, you have access to data, much easier than ever before. With a little quick and clever thinking, and (of course) using data to your advantage, you can get yourself some amazing marketing wins!
Here are a few tips on how to approach the data you must make the campaign you need.
1. Know what data you need.
Yeah, you obviously want to get the tried and true stuff like the gender and age groups of those who consume your products. But, by learning to dig a little deeper, you can find the information that helps you segment better. More specifically, we’re looking at the financial sector in the Caribbean. An industry that gathers data, by default, from their customers who apply for specific services.
For example, why do customers apply for loans?
First Citizens Bank and Scotiabank started to develop radio ads targeting folks who wanted to buy their first taxi or take that much-deserved vacation.
2. Talk to their needs.
A strong ad doesn’t just paint your products or services in a positive light; it paints it as something that solves a problem for them, makes their lives easier or at least more enjoyable. The major headache that most banking customers can agree upon is long lines.
Which is why banks all over the world, including First Citizens and Scotia are investing more marketing towards getting more of their clients to migrate to their mobile banking apps. Republic Bank dug even deeper into their data and found that most of their clients have one major problem; accessing cash in a pinch. So, they’ve started spending more marketing power behind their ‘Cardless Cash’ solution. When you look through your own data, you’ll find the key to better target your products to your customers’ needs. And your marketing will do better for it.
3. Make them the main character.
Let’s be honest; nobody likes ads. But everyone loves a good story, especially when they’re the protagonist. The new wave with marketing is putting the focus on the person you’re selling to, framing them as someone trying to overcome a problem that your product solves, or as the person savvy enough to recognize quality. But how can you do that if you don’t use your data to figure out who those characters are?
JMMB Bank, on a path to growth throughout the region, have focused all of their ad efforts into this idea, by creating a narrative around the goals of their potential customers, and them as a supporter to those goals and to them being able to live the extraordinary life they deserve. For your brand, the characters might be different, but …(see #4 below)
4. Hook them with other interests.
Creating authentic content based on the things that many people are interested in will help brand new consumers see your products and services, and see your brand as one they might want to support.
Take Republic Bank; last year, like every year, they’ve invested in advertising their Junior Parade of the Bands, despite not being a product or service. That’s because Republic Bank knows that community outreach has to be part of any communication plan. If someone’s developed a positive image of Republic through their Parade of the Bands, they’re more likely to remember the bank’s name and logo when they need to open a bank account or take a loan.
After all, everybody and their child will need a bank account at some point. And many might consider starting an account for their young one at a bank with a passion for creating enjoyable experiences for youth. If you can find the data about what your audience is passionate about, you can also get them to look your way to feel their passions.
5. Give yourself options.
Data gives you the ability to fill in a lot of the blanks when it comes to how to reach your target audience, but it also gives you enough information to come up with more than one crack at it. Among the ad campaigns for local banks, almost all of them have tried more than one version of one of their ads, using them to gather even more data about what works and better target their consumers. What better way to use data than to get even more data, right? Think hard about how your brands advertising can sharpen your focus even more.
Hopefully, with these simple ways of looking at the data in front of you, you can create stellar marketing campaigns that hit their target every time and leave lasting impressions when they do. Maybe this will even lead you to go out and get more data on your ideal customers, to develop stronger connections between their interests and your products and services. So go forth, and make the best ads you can!
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