We live in an age where information is only a few keystrokes away at any time. Consumers are more informed than ever – and as a result, they tend to research companies and their products before purchasing. Business owners understand the importance quality and credibility play to the customers and in achieving company goals and objectives.
That's where evidence-based marketing can help.
This overarching marketing strategy uses statistics, research, trends, industry practices, and customer research to provide evidence of product or service viability. It is intended to present the customer with objective verification that the product or service performs as the company states it does. Evidence can inform your marketing messaging or to influence your broader strategies.
Let's look at what this technique can do for your business and how you can begin implementing an effective strategy.
Benefits of Evidence-Based Marketing
Evidence-based marketing increases the chances of marketing success by relying on verified practices. By gathering and leveraging pertinent data, business owners and marketing professionals can develop critical insight for more effective marketing campaigns based on facts rather than opinions or unsubstantiated claims.
Here are some specific benefits your business can expect when implementing this marketing strategy.
Increased Cost-Efficiencies and ROI
There are many types of ads you can use for different goals. Used strategically and monitored effectively, you can expect to get the results you seek. Trying too many techniques without understanding what will work best for your campaign can be expensive and potentially ineffective. A data-driven strategy enables you to make decisions that will save money and result in greater ROI.
Improved Audience Understanding
The most successful companies all know who their ideal customers are. They understand them. They know what motivates them, what customers aspire to, and what shopping and purchasing behaviors they exhibit.
These industry leaders didn't rely on luck to achieve this insight. Instead, they relied on credible sources and customer insights into lifestyle, shopping behavior, and more to form buyer personas. Then, they followed where the evidence pointed and formed their messaging to resonate with where their customers are in their lives and buyers' journeys.
Better Customer Engagement
Customers want to know they are making good decisions, including where they spend their money. They want to know that the business is invested in providing quality goods and excellent customer service.
Customer engagement is the best way to build trust, forge lasting relationships, and create a loyal client base. Evidence-based marketing is ideal for this, as you can use what you've learned about your audience to create more targeted messages that speak to each segment's concerns or desires.
Implementing Evidence-Based Marketing Tactics
Market research is critical when developing your marketing strategy. Though the specific evidence will vary between companies, many common factors within an industry exist.
Here are some general guidelines to follow to ensure you are gathering the correct data.
- Collect valuable and accurate information – Research your audience and product or service to track trends that could benefit your customers. Research web analytics and customer data over an extended period to identify patterns and gain greater insight. Form hypotheses and conduct A/B testing to validate them.
- Decide on a realistic timeline – Study your target customers' buyers' journey and determine a reasonable timeline. By understanding the cycles and thought processes leading up to a purchase, you can align your marketing to be more personal and relevant for the shopper at each point. Establishing a rapport with the customer leads to greater customer engagement and better results as you guide them toward their purchase.
- Rely on experience and expertise – Get info from professionals with expertise in your specific industries. Ensure they are a respected source of information with a history of providing accurate and measurable research.
Achieving Company Goals and Objectives with the Proper Marketing Strategy
Our digital world gives consumers seemingly endless choices of where they spend their money. To rise above the crowd, businesses need a competitive advantage in highly competitive marketplaces. Evidence-based marketing can help your message resonate with consumers by using the correct data. Knowing how and where to get valuable data, such as customer insight, industry trends, purchasing behaviors, and other critical information, is vital to achieving company goals and objectives.
McClatchy is the nation's second-largest media company – and our varied markets give us significant local presence across a national reach. We have time-tested experience and expertise in gathering customer insights gained through our resources of unique audiences, strategic digital tactics, local content sponsorships, and much more.
When you are ready to take your company to the next level, contact our team for help developing an effective evidence-based marketing strategy.
