A lack of balance between long and short-term visions can lead brands to marketing myopia, ultimately keeping them from reaching their business objectives. For many organizations, this problem arises when there is too much inward focus, thus brands are too busy looking at themselves rather than paying more attention customer needs, marketing trends, and other external factors.
So, how to brands ensure that they’re not stuck in marketing myopia?
How to Use Data to Reduce Marketing Myopia
The first step is to balance consumer-centric thinking with business results. This will allow you to lean into digital transformation and focus on the bigger picture. This starts with understanding how to examine the relevancy and quality of your data to then improve the consumer journey. An optimized consumer journey will always lead to improved ROI.
Characteristics of High-Quality Data
The gold-standard of personalization is that no two customers have the same recommendations, because their preferences will always be different. To do this, you need to understand what data to collect and how to leverage it. Here’s what to look for in your data:
How to Step Away From Marketing Myopia
Here are some key strategies to help you target customers better, improve ROI and leverage high-quality data:
- Take stock of data and tools that your brand already has available.
- Take a big picture approach to data-driven marketing.
- Align marketing goals with a customer-first approach.
Check out my full article, Overcome Marketing Myopia by Using High-Quality Data, in Spinsucks, where I go more in depth on the subject.
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